I purchased a freehold property in Lambeth but still pay rent, why is this and what is this?

It is rare for properties in Lambeth and has limited impact for conveyancing in Lambeth but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.

Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.

This question may be naive but I am unseasoned as FTB of a two bedroom flat in Lambeth. Do I collect the keys to the house on completion from my solicitor? If this is the case, I will instruct a High Street conveyancing solicitor in Lambeth?

There is no need to visit the lawyers office on the day of completion. Your solicitors will transfer the completion advance to the seller's lawyers, and shortly after the monies have arrived, you should be invited to receive the keys from the Estate Agents and move into your new home. Usually this occurs early afternoon.

I can not fathom if my bank requires a lease extension. I have telephoned my Lambeth building society branch on numerous occasions and was reassured it wasn't a problem and they would lend. My Lambeth conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?

Your property lawyer has to comply with the Council of Mortgage Lenders’ Handbook Part 2 requirements for your lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.

At last I have had an offer on a flat in Lambeth agreed to, the sellers do nevertheless have a connected purchase. The sellers have put an offer on on an apartment, but it’s not yet agreed to, and have viewings of other apartments booked. I have instructed a bricks and mortar conveyancing solicitor in Lambeth. What do I do now? When should I get the mortgage application with Virgin Money started?

It is usual to have anxieties where there is a chain as you are unlikely to want to incur costs prematurely (home loan application is in the region of £1k, then valuation, Lambeth conveyancing search fees, etc). The first course of action is to ensure that your property lawyer is on the Virgin Money approved list. Regarding the next stages this very much dictated by the uniqueness of your case, desire for the property and on the state of the market. During a rising market some purchasers will apply for the mortgage with Virgin Money and pay for the valuation and only if it comes back ok would they pay their conveyancing practitioner to proceed with the conveyancing in Lambeth.

Should I be concerned about third parties that I am dealing with are suggesting an internet conveyancing firm rather than a High Street Lambeth conveyancing firm?

As with many professional services, often referrals from family and friends can be very helpful. Yet there are many parties with a vested interest in a conveyancing deal; estate agents, financial adviser and mortgage companies might all suggest solicitors to appoint. On occasion the lawyers might be known to one of the organisations as experts in their field, but sometimes there is an underlying commercial relationship behind the endorsement. You are at liberty to select your preferred conveyancer. However, bear in mind that the majority of lenders have an approved list of solicitors you are obliged to use for the lender related work in your transaction.

I need to instruct a conveyancing practitioner in Lambeth for my house move. Is it possible to check a firm’s record with the legal regulator?

One may read published Solicitor Regulator Association (SRA) decisions stemming from investigations from 2008 onwards. Visit Check a solicitor's record. To find records Pre 2008, or to check a solicitors record, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, call +44 (0)121 329 6800. The SRA could monitor call for training reasons.

How easy is it to change a solicitor as I need to find a Lambeth based conveyancer who is on the bank conveyancing panel. How simple is it to change conveyancer?

If you haven't yet instructed a conveyancer to commence the conveyancing and at this stage simply received an estimate as to costs, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Lambeth that you're considering.