Leasehold Management Information Pack
When selling a leasehold property, sellers will be asked to provide information about the management of the leasehold.
Seller's must apply to their freeholder or landlord for a leasehold management information pack, containing information on:
- The last 3 years of the managing the company's accounts
- Service charge and ground rent accounts
- Buildings insurance details
- Information about planned works
- Details of any disputes
- Fire risk surveys, asbestos surveys
- Details of any applications to buy the freehold
Freeholders will usually make a charge for the provision of the pack.
Leasehold management information packs may also be referred to as:
- Leasehold information packs
- Leasehold management packs
- Managing agent information packs
- Replies to LPE1 enquiries
With your solicitor instructed, ideally before you find a buyer, you should waste no time in applying for the leasehold management information packs. Obtaining management information is a major cause of delays in leasehold sale transactions - especially if you wait until you have found a buyer before applying for this information.
Chris Salmon, Director
About the author
Chris Salmon is a co-founder and Director of Quittance Legal Services. Chris has played key roles in the shaping and scaling of a number of legal services brands and is a regular commentator in the legal press.