Those involved included the British Property Federation, the Royal Institution of Chartered Surveyors and the Association of Residential Managing Agents.
The second edition of the LPE1 form will be released on 1 October 2015 along with the introduction of a buyers leasehold information summary (LPE2).
The amendments have been made to:
- reflect changes in the Association of British Insurer agreements with lenders
- provide better definitions and general wording, and
- include new questions aimed to reduce the need for additional enquiries, for example with regard to any transfer fees payable on sale.
Read the full Law Society article here