Boost for digital conveyancing after Framework opens up LPE1 enquiries

The Home Buying and Selling Group’s Property Data Trust Framework has taken a step closer to unlocking the potential of digital conveyancing after it was updated to allow answers to Leasehold Property Enquiries (LPE1) to be represented in a standard way.

The change means that key enquiries made of the Managing Agents of leasehold properties can be captured and shared in a way understandable by everyone.

FRAMEWORK

The Framework is a set of open and free-to-use data standards developed collaboratively across the property industry by the Home Buying and Selling Group.

The new, revised LPE1 form coincided with lenders changing their policies to be able to lend on properties in remediation schemes, or those covered by leaseholder protections earlier in the year.

Beth Rudolf, Director of Delivery at The Conveyancing Association, says: “This is a further step in the ongoing journey towards full digital conveyancing. Standardisation leads not just to a greater understanding but also speeds up the process around LPE1 enquiries.

“As an industry if we continue to work collaboratively we have high hopes for improving the home buying and selling process for all home movers and stakeholders.”

Maria Harris, Director, Digital Cat Consultancy, adds: “I’m grateful as always to our volunteer participants who commit their own time and resources to keeping the schema updated.

“The forms and data used across our industry are changing constantly which makes their support even more important.”

ENCOURAGING

Other bodies alongside the Conveyancing Association, such as the Society of Licenced Conveyancers as well as ARHM, BPF, The Property Institute (TPI), RTMF, RICS and Propertymark are encouraging their member firms to use the new version of the LPE1.

The Homebuying and Selling Group is holding its Upfront Information Roadshow Premiere as part of National Conveyancing Week in central London tomorrow (Tuesday 21st March) between 10am to 12pm followed by an hour of networking.

It is suitable for estate agents, mortgage advisers, conveyancing lawyers, mortgage lenders, surveyors, and everyone who provides software and services to those industries.

There are limited spaces to attend in person or people can sign up to join in online. Those looking to attend in person click HERE.

For details on how to join the event online, click HERE.