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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
FAQs : The Nedbank Solicitor Panel
Can you please explain the reason why all property lawyers are not on the Nedbank Conveyancing panel?
Even though it may seem unfair for Nedbank to restrict who can act for them from the public’s or solicitor’s point of view, the other side of the coin is that the lenders are becoming ever more anxious and feel the necessary need to protect them from mortgage fraud and other illegal activities. As a result of this concern Nedbank are limiting their panel of approved conveyancing lawyers to a manageable size. The Nedbank conveyancing panel is not the smallest
Our conveyancer has uncovered a problem with the lease for the flat we are buying. The other side have put forward defective title insurance as a solution. We are happy with insurance and will pay for it. Our lawyer says that as he is on the Nedbank conveyancing panel he must ensure that the lender is happy with this solution. Who is the client here, us or Nedbank?
Just because you have a mortgage offer from Nedbank does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and Nedbank are the client. These conveyancing instructions have to be complied with by the Nedbank conveyancing panel who has to balance acting for you and Nedbank
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Nedbank conveyancing panel. My lawyer has said that they are on the Nedbank approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Nedbank conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Nedbank solicitor panel.
I am mortgaging my home does my lawyer need to be on the Nedbank Solicitor panel?
In theory, you could use a solicitor that is not on Nedbank conveyancing panel, but Nedbank would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the Nedbank conveyancing panel?
Some major lenders now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
I can not work out if my mortgage offer requires a lease extension . I have telephoned Nedbank on numerous occasions and was told they are content with the situation 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. Who do I believe?
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.
My offer on house has been accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties in the pipeline. My conveyancing solicitor has been instructed. What do I do now? When should I get the mortgage app going with Nedbank?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Nedbank conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Nedbank and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.
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