Common questions asked concerning the Nedbank Conveyancing Panel
from members of the public
A lawyer my husband and I wanted to use for conveyancing on a remortgage said he will levy higher legal fees if my mortgage is with Nedbank because of 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.
Can you help?. For no fault of my lawyer but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from Nedbank was issued random date and we have agreed a date for me to move into the property on Tues etc. My solicitor says that as she is on the Nedbank conveyancing panel she needs to reorder the searches as they are no longer valid.
One of the many conditions to being on the Nedbank approved panel is to comply with the CML Handbook requirements (last updated for this lender on Nedbank)which specifies that a local authority search be not more than 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Nedbank.
I have checked 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 would like to get my former partner taken off the mortgage deeds. Can Nedbank really tell me which solicitor I can or can not retain?
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
When it comes to mortgage companies such as Nedbank do lawyers have to be pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
Do the majority of lenders operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Nedbank conveyancing panel requirements are different to Nedbank’s conveyancing panel requirements.
My offer was accepted on a house on the 17th January 2014, valuation was booked 4 days after, received a clean bill of health. Solicitor appointed, so all that was missing was my mortgage offer. Having made daily calls to Nedbank and chasing them on my offer I have now been told that my offer will not be issued unless the lawyer is on the Nedbank conveyancing panel. Are Nedbank entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Nedbank to deal with your lawyers application to be on the Nedbank conveyancing panel. There's no guarantee that your solicitors will be accepted.