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LPE1s for Leasehold Transactions?
Jessica2911
Posts: 7 Forumite
I am 8 weeks into a Leasehold Transaction for the sale of a shared ownership property. The buyer has his mortgage in place, which has been approved by the Housing Association. My solicitor advised me that a Management Pack was requested and issued to the buyer's solicitor in early September (At the beginning of the process). I have been advised that the buyer's solicitor was happy with the contract, and had requested searches on 25 September, we were just awaiting responses. I have now been advised by my solicitor that an LPE1 is needed of the third party management company, and that they have requested costs of this (not even yet requested that they complete it). My question is, isn't it quite late in the process to be requesting this? Is this not a standard form/requirement that my solicitor should have seeked to obtain much earlier in the transaction? And anyone that has recently gone through this, roughly how long did it take/how much did it cost?
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