Service charge accounts
An interview with Andrew Bond, partner at Smith & Williamson. Andrew's work covers a range of assurance related issues such...
We are sorry to hear that you have received a surprise bill soon after purchasing. As a recent buyer, this can be unexpected and stressful.
A large major works bill could potentially arise at any time depending on the repair and maintenance needs of the building.
The purpose of the form is that the seller provides a buyer with information that they can rely on to make the decision to commit to buying the property. If the information in the LPE1 was missing or incorrect, it could be that there was a misrepresentation on the part of the landlord or their managing agent.
If you suspect incorrect information was given in the LPE1, we suggest you speak with your conveyancer. They may be able to investigate the matter for you.