Find an Approved Solicitor on the Nedbank Private Wealth Ltd
Conveyancing Panel
FAQs for the Nedbank Solicitor Panel
For what reasons would a firm of solicitors be excluded from the Nedbank solicitor panel?
According to a recent survey report by the solicitors regulator three quarters of law firms had been excluded from a lender panel. The top reasons in order are :
- lack 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
My nephew is in the process of securing a new build apartment with a home loan from Nedbank. His conveyancer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Nedbank conveyancing panel as a standard part of the process, and to the valuer when asked.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Nedbank conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Your search tool is useful but there are many lawyers listed near London on the Nedbank conveyancing panel. Can you recommend a specific firm on the conveyancing panel for Nedbank ?
We are not in the business of recommending one firm above another 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..
I am considering applying for a Nedbank mortgage for purchase of a newly converted (under development) with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Nedbank?
There is nothing to stop you using your solicitor but Nedbank will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
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 criteria.
I have a mortgage with Nedbank. Conveyancing has been completed a year ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Nedbank?
You must advise Nedbank prior to renting your property as this is likely to be a breach of Nedbank’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Nedbank directly. You need not do this via a Nedbank conveyancing panel lawyer.
Can I register a complaint to Nedbank about the lawyers being on the Nedbank conveyancing panel?
There is little point in complaining directly to Nedbank. All solicitors and conveyancer must have a complaints procedure. Usually one can find this information from the solicitor’s or conveyancer’s website or ask at their office. They must tell you about it if you ask.
The Legal Ombudsman will make sure that your complaint is addressed by the solicitor. It can also advise you how to complain.
If a licensed conveyancer does not have a complaints procedure or will not tell you about it, contact the Council for Licensed Conveyancers (CLC), which will make sure that your complaint is properly dealt with by the conveyancer. Please see below for more information.