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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
Common questions asked concerning the Nedbank Solicitor Panel
The solicitor my fiance and I had intended to instruct on a purchase said she will levy higher legal fees if my mortgage is with Nedbank due to their difficult processes! Will I regret using Nedbank? Any comments will be appreciated
Nedbank conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the Nedbank conveyancing panel. If they are not, this does add further risk of delay as Nedbank will appoint their own solicitors to look after their interest.
My grandson is buying a house that has just been built with a mortgage from Nedbank. His lawyer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Nedbank conveyancing panel as a standard part of the process, and to the surveyor when asked.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Nedbank conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Your search tool is useful but there are many lawyers listed near London on the Nedbank conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for Nedbank ?
We do not recommend specific firms as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
My house is up for sale and I have a buyer. Does my solicitor have to be on the Nedbank conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Nedbank conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
Can you point me to a directory of Nedbank panel conveyancers on the CML Handbook Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
For 5 years I had a mortgage with Nedbank. My godfather has just retired and wants to pay off the mortgage left on the property. After Nedbank is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the Nedbank conveyancing panel? I do not intend to live at the property once the Nedbank mortgage is discharged.
You
will need a solicitor but they need not be on the Nedbank conveyancing panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. As the property is your main residence you need
not pay CGT but you should speak with your accountants in any event.
I am currently in the process of buying my council flat. I have a mortgage agreed with Nedbank. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Nedbank you will need to appoint a solicitor on the Nedbank conveyancing panel.
Other Topics
Transfer of Equity for NedbankPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors