Nedbank Conveyancing Lender Panel Compliance Tool

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

This software facilitates the way you can prove to lender panels that you are, and can stay fully compliant with their requirements, with alerts on Nedbank’s changes. Even though utilising the tool is not a prerequisite for Nedbank , demonstrating you can stay up to date with Nedbank’s Handbook requirements is an excellent support to your panel application and, more importantly, safeguard your panel status.

COMPLETIONmonitor generates real-time alerts, automatically produces regulatory and CQS reports, and will increase your firm's efficiency. In addition it is simply to use, cost-effective and, for some firms, results in reduced PII premiums.

Find a Law Firm approved by Nedbank

Lenders often 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, frequently:

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
6.14.1a 01/12/2014 CML
10.9 06/02/2013 CML
16.1.1 06/02/2013 CML
16.3.4 06/02/2013 CML
5.15.2c 04/02/2013 CML
5.5.3b 04/02/2013 CML Lack of Planning Permission Indemnity Insurance
5.5.3d 04/02/2013 CML Lack of Planning Permission Indemnity Insurance
6.11.1 04/02/2013 CML Obstruction of Access Indemnity Insurance
6.14.1c 04/02/2013 CML
6.2.1 04/02/2013 CML

Last update 15/05/2019

Frequently asked questions relating to the Nedbank Solicitor Panel from members of the public

My fiance and I are buying a 1 bedroom flat in Leeds with a mortgage from Nedbank. We like our solicitor but Nedbank says he's not on their "panel". It seems we have little choice but to instruct one of the Nedbank panel firms or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Nedbank conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Nedbank
can you help? My conveyancer is assuring me that he is legally obliged to apply for a Local Authority search because the firm are on the Nedbank solicitor panel. Is my lawyer correct?
You have limited options available to you. Given that you are taking out a loan with Nedbank your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Nedbank’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Nedbank. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
Your search tool is useful but there are many lawyers listed near Coventry on the Nedbank conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the Nedbank approved panel?
We do not recommend specific firms as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
Can you clarify what the consequences are if my lawyer’s firm is expelled from the Nedbank Conveyancing panel before the completion date?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I had instructed online conveyancers based in Manchester who are on the Nedbank solicitor panel. They are now charging me a separate fee of £135 for dealing with the Nedbank mortgage. Is this an additional conveyancing fee specified by Nedbank?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Nedbank but by your lawyers. Some firms on the Nedbank will charge an ‘acting for lender’ fee and others do not.
Is it common for Nedbank to withdraw a mortgage offer and what would be the reasoning?
Lenders such as Nedbank can withdraw their mortgage offer although this is unusual. In the unlikely event that Nedbank withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are many potential reasons but here are a number of examples:
  • A cashback to the buyer, or | part of the price includes a non-cash incentive to the buyer (eg paid stamp duty land tax),or | any indirect incentive (cash or non cash) or rental guarantee, of which the lender was previously unaware
  • Where the purchase price and borrowers direct contribution differ to details on the mortgage application form completed by the borrower
  • Where to proceed with the Mortgage offer would be unlawful
  • If the lender reasonably suspects that the applicant, borrower, mortgagor or guarantor is involved in any criminal or fraudulent activity, including trading in illegal drugs or other substances, theft, robbery, deception or other serious offences, or if the applicant borrower, mortgagor or guarantor has a conviction for any serious criminal offence, including theft, deception, fraud, robbery or trade in illegal drugs or other substances;
  • If the lender reasonably believe that the applicant, borrower, mortgagor or guarantor is insolvent or is about to become insolvent or has or will have a petition presented or if any one or all enter into any arrangement with their creditors generally or if any one or all should suffer a material change in their financial circumstances
My brother and I are purchasing a flat in Hendon. Conveyancing solicitors in Hendon will soon beinstructed. My mothersuggested that we double-check that the conveyancing practitioner in Hendon is on the Nedbank approved list of lawyers. Aren't all lawyers on the Nedbank panel?
Far from all Hendon conveyancing firms are on the Nedbank conveyancing panel. 7 people a month use our search tool to find a Hendon conveyancing lawyer on the on the Nedbank list of approved conveyancing firms.