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My IFA has has requested my lawyer’ panel member for the Nedbank conveyancing panel. Can you suggest how I find this out. I have contacted my local Nedbank office but they have not responded to me.
the sensible thing to do is ask for this information from your solicitor. A law firm is likely to keep a file or database of lender panel information which would include, if applicable their conveyancing panel details for Nedbank.
I do hope you can help me. My lawyer is advising me that he has to conduct a Local Authority search as the firm are on the Nedbank approved lawyer panel. Is this really necessary?
You have limited options available to you. As you are taking a mortgage 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.
How up to date is your database of lawyers on the Nedbank conveyancing panel? Do Nedbank send you an updated list?
The law firm practices themselves provide us confirmation that they are on the Nedbank conveyancing panel as opposed to being supplied with a list from Nedbank directly.
I am considering remortgaging my property does my lawyer need to be on the Nedbank Conveyancing panel?
In theory, you could use a solicitor that is not on Nedbank conveyancing panel, but Nedbank would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
Is it the case that all conveyancing lawyers on the Nedbank conveyancing panel work on a no move no charge basis?
On the whole there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their service
I was thinking of purchasing my friend’s property. Once we agree a price, what’s the best way to proceed? I plan to obtain a mortgage with Nedbank. Is there anyway to cut out the solicitors to save us both money? My father said that years ago it was possible to take the documents into the local Land Registry office and they did the rest
If you are getting a mortgage with Nedbank involved you will need to appoint a solicitor on the Nedbank conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Nedbank. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Nedbank conveyancing panel.
I have a mortgage with Nedbank. Conveyancing has been completed a year ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Nedbank?
Nedbank must be informed of your intention prior to renting your property as this is likely to be a breach of Nedbank’s mortgage conditions. It may be that Nedbank will permit you to let 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 solicitor.
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Transfer of Equity for NedbankPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors