What is a Lease Plan?
Any new lease lasting seven (7) years or more must be registered with Land Registry and maintain a compliant lease plan. The lease plan is essentially a drawing that identifies a leasehold demise within a property or in other words a scaled metric drawing depicting exactly what area of land is included within the lease.
There are a number of reasons why you might need to obtain a lease plan, but the most prevalent are:
- A lease of seven years or more is being granted
- Land forming part of a registered title or that has been previously unregistered is being sold
- A section of land being split into two or more parts and sold
What does being Land Registry compliant mean?
Legislation was introduced by Land Registry in 2002. In essence, lease plans needed to be compliant with new guidelines mainly to create consistency.
To comply with the guidelines a lease plan must:
- Be drawn to an appropriate scale
- Clearly indicate the property orientation (e.g. the north direction)
- Have sufficient detail to be identified on the Ordnance Survey map
- Clearly identify its location in relation to its surrounding area
- Show roads, road junctions or other landmarks around the land
- Include any land associated with the property such as a garage
- Show buildings in their correct position as well as drives or pathways if they form part of property boundaries
- Where appropriate Identify any varying floor levels
- Show measurements that correspond to scaled measurements (as much as possible)
What happens if I do not provide a compliant plan?
If a lease plan is required, it is worth getting it right the first time. If the plan submitted to Land Registry is not compliant and rejected you will need to resubmit your application with a replacement plan; this can be time-conumsing and potentially costly.
We will attend your property at an agreed time and date to complete a physical assessment. Coral will then provide your legally compliant lease plan within 48 working hours from the day of the survey.
Further, not only do we deliver Lease Plans, we can also tie in the requirement for an Energy Performance Certificate (EPC). Virtually all domestic properties being leased or sold require an EPC.
So why pay for two visits from two alternative providers when Coral Energy can provide a complete package at a competitive price ? - Contact us today