The release coincides with mortgage lenders changing their policies to be able to lend on properties in remediation schemes, or those covered by leaseholder protections.
The LPE1 form will serve to clarify the remediation responsibilities of different parties further, improving efficiency and accuracy in the conveyancing process. The additions are another step in the right direction to improve the buying and selling process.
Propertymark members should be aware of the revised form, which is available to download from our Knowledge Hub and includes the Leaseholder Deed of Certificate.
Leasehold Property Enquiries (LPE1)
This form will coincide with lenders changing their policies to be able to lend on properties in remediation schemes, or those covered by leaseholder protections. The changes to this form arise from the Building Safety Act 2022 which came into force on 28 June 2022.
LPE1 form enhancements
Documents covering the Leaseholder Deed of Certificate, the Landlord’s Certificate, and any known enforcement action taken have been included, including definitions, plus an amendment to the definition of a Right to Manage Company.
Additional questions have been covered, including:
- Whether the Leaseholder Deed of Certificate has been served on the landlord in relation to the sale of the property or remedial works required for the property
- Whether a Landlord’s Certificate has been served
- Where there is any outstanding enforcement action against the Landlord or accountable person (such as outstanding enforcement notices)
These updates are a direct result of the changes introduced by the Building Safety Act and will provide greater clarity throughout the home buying and selling process. Agents should be aware of the changes and the new protections for leaseholders to support prospective buyers and sellers.
