FAQs : The Nedbank Conveyancing Panel
from members of the public
For what reasons would a law firm be removed from the Nedbank approved conveyancing panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of solicitor practices had been removed from a lender panel. The top reasons in order are :
- Low volume of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Nedbank
We are approaching an exchange and my parents having sent the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my lender Nedbank. I am advised that, being on the Nedbank conveyancing panel and acting on their behalf he must inform Nedbank if the balance of the mortgage advance is coming from anyone other than me. I informed the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for him to raise this?
Your lawyer is obliged to check with Nedbank to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Nedbank if you agree, failing which, your lawyer must cease to continue acting.
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 buying a terraced house and getting a mortgage with Nedbank. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Nedbank conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Nedbank conveyancing panel in your location.
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Nedbank be concerned
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. The CML are developing guidance for Northern Ireland and Scotland.
I am due to exchange contracts on my house. I had a double glazing fitted in month 2010 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Nedbank are being problematic. The solicitor who is on the Nedbank conveyancing panel is saying indemnity insurance will be fine but Nedbank are requiring a building regulation certificate. Why do Nedbank have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Nedbank have referred the matter to their valuer. The reason why Nedbank may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.
Me and my partner are remortgaging a terraced house in Hendon. Conveyancing solicitors in Hendon will soon begiven the go-ahead. My mothersuggested that we make sure that the property lawyer in Hendon is on the Nedbank approved list of lawyers. Aren't all lawyers on the Nedbank panel?
It is not that case that all Hendon conveyancing firms are on the Nedbank conveyancing panel. Click here to find a
Hendon conveyancing lawyer on the on the Nedbank solicitors pane.