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approved by Nedbank
Ready to buy a new home? Failing to check that a lawyer is on the Nedbank list of approved solicitors can put your transaction at risk of delay or failure.
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How does my firm apply to be on the Nedbank Private Wealth Ltd Conveyancing Panel? How can my firm be reinstated onto the Nedbank Private Wealth Ltd Conveyancing Panel?Find an Approved Solicitor on the Nedbank Private Wealth Ltd Conveyancing Panel
Frequently asked questions relating to the Nedbank Solicitor Panel
Am I correct in assuming that the fact that my solicitor is not identified on the Nedbank Conveyancing panel that there is a problem with the standard of her work?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Nedbank.
I am purchasing a newly constructed flat and my solicitor is informing me that she is duty bound to disclose incentives from the builder as her firm is on the Nedbank conveyancing panel. I am on a tight deadline to exchange and my preference is not to prolong matters. Is my lawyer right?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Nedbank approved panel is to comply with the CML Handbook requirements (last updated for this lender on Nedbank). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I note that you have a search directory listing law firms on the Nedbank conveyancing panel. Do firms pay you a referral fee if I instruct them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the Nedbank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
My lawyers in Liverpool have advised me that they can not locate my conveyancing file. At the time of my purchase I took out a mortgage with Nedbank. Is it case that being on the Nedbank conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Nedbank Conveyancing Panel Terms. It might be worth you contacting Nedbank directly.
I am buying a property where the roof has a solar panel. Nedbank have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Nedbank your lawyer must to check the Nedbank conveyancing instructions contained in the Part of CML Handbook for Nedbank . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Nedbank where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. Requirements for Scotland are due in the near future.
Hi, thinking about buying a house off my mate. Assuming we can agree a figure, what’s the best way to proceed? I plan to obtain a mortgage with Nedbank. Is it possible to avoid using solicitors to save us both money? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with Nedbank involved you will need to appoint a solicitor on the Nedbank conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Nedbank. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Nedbank conveyancing panel.
It is not clear whether my mortgage offer requires a lease extension . I have telephoned Nedbank on various occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Nedbank conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
Your lawyer has to follow the CML Handbook Part 2 requirements for Nedbank. Unless your lawyer obtains specific confirmation in writing that Nedbank 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 Nedbank to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
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