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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.
Find an Approved Solicitor on the Nedbank Private Wealth Ltd Conveyancing Panel
Nedbank Conveyancing Panel Recently Asked Questions
I am in the process of selling my maisonette and the EA has just telephoned to say that the buyers are appointing a new property lawyer. The reason given is that Nedbank will only engage with property lawyers on their approved list. On what basis would a big named lender only deal with certain lawyers?
UK lenders have always had panels of law firms they are willing to work with, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Banks blame a rise in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Nedbank will not agree to this. Why was Nedbank even consulted?
Your lawyer being on the Nedbank conveyancing panel is duty bound to inform Nedbank of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Nedbank then they would have to discontinue acting for you and Nedbank.
I have been Googling for competitive conveyancing fees. Can I be confident that all the law firms that are identified on your site are on the Nedbank conveyancing panel?
The solicitor and licensed conveyancing practices on our directory have advised us that they are on the Nedbank panel and agreed to advise us to take down their listing in the event of removal off of the Nedbank panel. To date we have not been informed by either a bank or a member of the public that the data about a specific firm being on the Nedbank conveyancing panel is incorrect.
I am trying to get my ex-husband removed the mortgage deeds. Can Nedbank really insist on which solicitor I can or can not use?
You can use any solicitor you like but Nedbank then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Nedbank solicitors panel
Is there a list of Nedbank panel solicitors on the Council of Mortgage Lender’s 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.
I have a mortgage with Nedbank. My godfather retired last week and wants to pay off my mortgage. 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.
Although you do need to retain the services of a lawyer they dont
need to be on the Nedbank 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. There's no capital gains tax for you as it is
your main residence.
It is not clear whether my mortgage offer requires a lease extension . I have called into my local branch 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. 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.