Nedbank Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is an online pre- and post-completion checklist for property lawyers. Supported by the CML and PI insurers. COMPLETIONmonitor is a unique risk mitigation tool.

This system facilitates the way you can demonstrate to lender panels that you are, and can remain fully compliant with their instructions, with alerts on Nedbank’s changes. Even though using the software is not a prerequisite for Nedbank , demonstrating you can stay up to date with Nedbank’s Handbook requirements is an excellent support to your application to their lender panel and, just as importantly, protect your firm’s panel status.

The system creates real-time alerts, automatically produces regulatory and CQS reports, and will increase your firm's efficiency. In addition it is user friendly, cost-effective and, for some firms, results in reduced PII premiums.

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Mortgage companies frequently vary their requirements. The UK Finance Lenders’ Handbook requirements from Nedbank are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, over time:

A Timeline of Policy Changes

Since 2008, Nedbank has made 130 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 21.0 days. In total, 60% of the sections of P2 of the UK Finance Lenders’ Handbook for Nedbank have been changed since 15/12/2008.

To find out more about lender panel compliance,

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Recent Changes Include

# Date Assoc. Changes Related To
6.14.3 01/12/2014 CML
6.14.4 01/12/2014 CML
10.11 06/02/2013 CML
16.3.2 06/02/2013 CML
3.2.3 04/02/2013 CML
5.14.10 04/02/2013 CML
5.14.13 04/02/2013 CML
5.17.5a 04/02/2013 CML
5.1.1 04/02/2013 CML
5.5.3b 04/02/2013 CML Lack of Planning Permission Indemnity Insurance

Last update 16/03/2019

FAQs : The Nedbank Solicitor Panel from members of the public

A conveyancer my husband and I had intended to instruct on a purchase said he 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.
We are approaching an exchange and my parents having transferred 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. Apparently, 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 home loan 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.
Are the lawyers identified as being on the Nedbank conveyancing panel, together with their details provided by Nedbank?
The firms themselves provide us confirmation that they are on the Nedbank conveyancing panel as opposed to being supplied with a list from Nedbank directly.
I was scheduled to complete on my flat last Thursday. My lawyer’s firm is on the Nedbank solicitors panel but has moved offices 8 weeks ago and had not informed Nedbank of their new address. Nedbank has locked down the release of mortgage funds until such time as their systems are up to date with the correct details.
This is as unusual as it is unlucky. The majority of lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Nedbank branch or your mortgage broker to see if they can help.
Can you point me to a directory of Nedbank panel conveyancers on the Building Society Association’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.
We are getting a further advance on our mortgage from Nedbank as we wish to carry out alterations or improvements our home. Do we need to appoint a solicitor on the Nedbank conveyancing panel to deal with the paperwork?
Nedbank do not ordinarily instruct a member of their conveyancing panel to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Nedbank list
We expect to receive a DIP from Nedbank this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc).Do the Nedbank recommend a solicitor on the Nedbank conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Nedbank conveyancing panel. The solicitor represents both you and the Nedbank through the process.