Nedbank Conveyancing Panel Information

The Council of Mortgage Lenders, together with Nedbank and other stakeholders developed a standard set of instructions where a solicitor is acting for a lender such as Nedbank alone in a residential conveyancing matter. These obligations are contained at Part III of the UK Finance Lenders’ Handbook and are to be followed in conjunction with Part I and II. The CML have published an example requirements letter to the borrower’s lawyer for adaptation by the lender's conveyancer, and sets out to the borrower's conveyancer, the documentary and information requirements of the lender's panel solicitor.

The CML Part II requirements of Nedbank are silent on this. Most mortgage companies deal with the issue of file retention via their Terms of panel appointment where they generally provide that for evidential purposes, the firm must keep the file for at least of 6 years from the date of the mortgage. Data imagining is normally suitable compliance with this requirement. Many lenders point out in that it is the practice of some fraudsters to demand the conveyancing file on completion in order to destroy evidence that may later be used against them. It is therefore important to retain these documents to protect Nedbank’s interest. To be absolutely sure of Nedbank requirements in this regard please check the Terms and Conditions of Nedbank’s conveyancing panel appointment.

In this situation please explain on the form what action you have taken to find out the reasons behind cancellation of your Nedbank panel status. In particular please provide details if you have received communications from the lender. E.G. before cessation of your panel membership did you receive any letters or calls from the lender advising you as to their reasons?

You should communicate with Nedbank to obtain standard documents. The The Council of Mortgage Lenders Handbook contains a specific question for lenders to reveal who to contact to obtain standard documents. Nedbank in their Part 2’s state: Don’t forget to disclose your Nedbank conveyancing panel number.