Frequently asked questions relating to the Nedbank Solicitor Panel
from members of the public
My Conveyancer is not listed on the Nedbank Approved Panel. Is it possible for me to continue with my preferred solicitor even though they are not on the Nedbank panel?
You will need to have a conveyancer complete the legal work required when you take out a Nedbank mortgage to buy your property. They’ll carry out all the necessary legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in place. You can instruct a conveyancing firm of your choice. However, if the firm selected is not a member of the Nedbank conveyancing panel additional costs will be incurred as separate legal representation will be required by Nedbank. Conveyancing panel applications can be submitted, so if your conveyancer has not previously applied for membership they can do so.
My wife and I changing mortgage lender for our maisonette with Nedbank. We have a son approaching twenty who lives with us. The solicitor on the Nedbank conveyancing panel has asked us to disclose any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the property is forfeited by the lender. I have two concerns (1) Is this form unique to the Nedbank conveyancing panel as he did not need to sign this form when we bought 4 years ago (2) Does our son by signing this giving up his rights to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Nedbank .This is solely used to protect the Nedbank if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Nedbank had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I note that you have a search directory identifying solicitors on the Nedbank conveyancing panel. Do firms pay you a referral fee if I appoint them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the Nedbank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
My lawyers in London have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with Nedbank. Is it case that being on the Nedbank conveyancing panel they need to have retained the file for a prescribed period?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Nedbank Conveyancing Panel Terms. It might be worth you contacting Nedbank directly.
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 would not normally instruct firms on their approved list of lawyers 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 panel
We have a mortgage agreed in principle with Nedbank. Solicitors have been chosen? What is the average time that one could expect to receive a mortgage offer from Nedbank?
There is no definitive answer here. Have Nedbank done the survey? Have you advised Nedbank as your lawyers details and checked that your lawyer is on the Nedbank conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
I am currently in the process of buying my council flat. I have a mortgage offer with Nedbank. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Nedbank you will need to appoint a solicitor on the Nedbank conveyancing panel.