Nedbank Conveyancing Panel Information

The information on this page is designed to keep solicitors and licensed conveyancers abreast of latest requirements changes by Nedbank and to assist in remaining on the Nedbank Conveyancing Panel.

Nedbank Conveyancing Panel: Recently Asked Questions

Are Nedbank Conveyancing panel lawyers duty bound to disclose incentives?
Nedbank’s answer to this question can be found at section 6.4.4 of their CML Part 2 requirements

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Nedbank wants me to represent them alone on a residential conveyancing transaction , using the CML Lender’s Handbook. The borrower has his own solicitor (not on the Nedbank conveyancing panel) How does this work and are there different requirements from Nedbank in this circumstance?
The CML, together with Nedbank and other members developed a standard set of requirements where a conveyancer is acting for a lender such as Nedbank alone in a residential conveyancing matter. These legal instructions are contained at Part 3 of the UK Finance Lenders’ Handbook and are to be followed in conjunction with Parts 1 & 2. The CML have published an example requirements letter to the borrower’s conveyancer for use by the lender's conveyancer, and sets out to the borrower's conveyancer, the documentary and information requirements of the lender's panel lawyer.
I am hearing that agents are using online checkers to see if a firm is on a lender panel. Why?
The fact of the matter is that estate agents are feeling the pain if their clients start out on the buying process using a conveyancer who is not on the panel with the purchaser’s chosen lender. Many conveyancing firms are only discovering when they begin working on a case that they are no longer able to work with that lender. Given the inevitable resultant delays in the transaction the chances of an abortive deal increases dramatically. in the circumstances there is understandable anguish on the part of the estate agent as a result of the lost time should the client have to change solicitors .
Are there conditions,outside the CML Part 2 requirements, that a firm should be aware of when on the Nedbank conveyancing panel?
In order to be on the Nedbank conveyancing panel solicitors have to complete an application form and agree Terms and Conditions. A sample of 5 conditions that we see amongst many lenders Terms (but not necessarily Nedbank) are as follows:
  • To quote on all communications with us relating to deeds/registration issues, whether by telephone or in writing, the panel number that we provide for each practising address and the mortgage account or application number for the mortgage concerned.
  • To forward the title deeds and documents to another solicitor/conveyancer within 24 hours of an instruction from us requiring you to do so. On forwarding the deeds as instructed you will confirm to us that you have done so. Upon receipt of your confirmation, we will release you from all undertakings relating to your holding the title deeds.
  • To carry out our instructions with reasonable care and skill, ensuring that all employees carrying out mortgage work on our behalf are qualified and competent to do so
  • To notify us in writing of any change in your details as held on our records for example, change of address, telephone number, document exchange number email address. Notification must be given to us at least 10 days before the change will be effective.
  • If you are a sole practitioner, to arrange for appropriate locum cover from our panel where necessary. Your locum must be a member of the Conveyancing panel.
I seldom receive a copy of a lender valuation any more. Do my Nedbank conveyancing panel obligations extend to checking the valuation details where I am acting on a purchase with Nedbank as the lender?
There are various requirements you need to follow if you wish to comply with your lender client’s instructions as set out in the UK Finance Lenders’ Handbook. (a) You must take reasonable steps to verify that there are no discrepancies between the description of the property as valued and the title and other documents which a reasonably competent conveyancer should obtain, and, if there are, you must tell Nedbank immediately. (b) You should take reasonable steps to verify that the assumptions stated by the valuer about the title (for example, its tenure, easements, boundaries and restrictions on its use) in the valuation and as stated in Nedbank’s mortgage offer are correct. If they are not, please let Nedbank know as soon as possible as it will be necessary for Nedbank to check with the valuer whether the valuation needs to be revised. Nedbank conveyancing panel solicitors are not expected to assume the role of valuer. Nedbank are simply trying to ensure that the valuer has valued the property based on correct information. (III) Nedbank recommend that you should advise the borrower that there may be defects in the property which are not revealed by the inspection carried out by their valuer and there may be omissions or inaccuracies in the report which do not matter to them as a lender but which would matter to the borrower. Nedbank recommend that, if we send a copy of a valuation report that Nedbank have obtained, you should also advise the borrower that the borrower should not rely on the report in deciding whether to proceed with the purchase and that he obtains his own more detailed report on the condition and value of the property, based on a fuller inspection such as a homebuyers report or comprehensive survey. If you do not receive a copy of the valuation you can always ask for a copy of one from Nedbank or the borrower. You still need to comply with the UK Finance Lenders’ Handbook Requirement relating to valuation reports even if you don't receive one directly. Failure to comply not only runs the risk of facing a claim by the lender but also being removed from the Nedbank conveyancing panel
We had our Nedbank panel membership revoked but we have not yet been given an explanation yet. I am completing a CQS application questionnaire what details should I disclose?
In the circumstances please explain on the form what steps 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 revocation of your panel membership did you receive any letters or calls from the lender putting you on notice?
I am on the Nedbank conveyancing panel and scheduled to complete a purchase within the next few weeks. My papers do not include a Mortgage Deed for the client to sign. Who do I contact at Nedbank to get a duplicate Deed?
You should contact Nedbank to obtain standard documents. The CML Handbook contains an express section for lenders to establish who to contact to obtain standard documents. Nedbank in their Part 2’s state:
You will need to quote your Nedbank solicitors panel number.

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Average number of days to register title including a charge in favour of Nedbank
This information relates to purchase only and not remortgages.
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* Data aggregated from sources including COMPLETIONmonitor