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New Forms
A number of trade and member bodies representing the legal, surveying, estate agency and property management sectors have launched updated versions of the information request forms used for property sales. The forms, which “go live” from 11th January 2022, are:
- LPE1 (Leasehold Property Enquiries)
- LPE2 (Consumer summary)
- FME1 (Freehold Management Enquiries)
IRPM, the Law Society, the Conveyancing Association, CILEX, the Society of Licenced Conveyancers, ARMA, ARHM, the British Property Federation and ARLA Propertymark have encouraged all member firms and individual members to use the new versions from 11th January 2022.
The updated forms now include the UPRN; Universal Property Reference Number of the property. The updated form fields are included within the PDF versions. These versions of the forms ask administrators whether they can accept service of notice by email and receive the payments via the electronic banking system to enable more efficiency in the process. Hopefully, that will encourage more legal firms to move into the 21st Century!
This is the third version of the LPE1 form. It includes a number of new additional questions – for example asking whether there are any restrictions on keeping pets, or parking.
The form also asks whether a fire safety or an external fire wall assessment has been undertaken, and whether there are urgent works required as a result of those investigations. This should, in theory, allow those marketing the property to identify material facts about cladding more easily (and estate agents conveying actual facts would be an improvement in itself!).
The Freehold Management Enquiries (FME1) form is on its second version and contains a number of additional questions including who deals with any Deed of Covenant, access to insurance documents, and contributions to the service charge.
IRPM CEO, Andrew Bulmer, said:
“It must be at least ten years ago that the legendary Gerry Fox and I pushed for a common format for replies to enquiries. Other stakeholders thought the same and a sector-wide initiative delivered the first LPE1. The subsequent and comprehensive adoption of this ‘blindingly obvious’ document is testimony to the power of collaboration when stakeholders come together for good. I am delighted to see the latest edition upholding that principle.”
Beth Rudolf, Director of Delivery at the Conveyancing Association, commented:
“The industry has committed to ensuring the forms are up to date and continually assessed to make sure they ask for all the necessary information. These new iterations of the forms do just that, and particularly in light of the ongoing issues many leaseholders are having with their building’s fire safety, it is clearly very important that all stakeholders have full upfront and transparent information on this aspect of the property. We’ll continue to review these forms to make sure they are fit for purpose going forward and in particular as there becomes greater clarity over the need for external wall assessments and access to them.”