Nedbank Conveyancing Panel Information

The Council of Mortgage Lender requirements of Nedbank are silent on this. Most mortgage companies address 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 a minimum six 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 acceptance.

In the same way that there is a unique Nedbank conveyancing panel most building societies, operate a conveyancing panel for solicitors and other conveyancers that the lender will instruct. Terms and Conditions and criteria for inclusion on a building society conveyancing panel vary from lender-to-lender. Having CQS accreditation may be a requirement. Institutional lenders, such as a building society, is a client and is entitled to instruct the solicitor or conveyancer of its choosing (who, in turn, is free to accept or refuse instructions). Therefore, if lender and borrower cannot agree which solicitor or conveyancer should represent them jointly, they would usually proceed on a separate representation basis. The BSA have not published the equivalent of the UK Finance Lenders’ Handbook Part 3s.

7 consumers attempt to locate a solicitor on the Nedbank panel each month in Hendon. Feel free to contact the Lexsure team who will tell how your firm can be found by those searching for conveyancing in Hendon.

In the circumstances please explain on the form what action you have taken to discover 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 advising you as to their reasons?

You would be advised to get in touch with Nedbank to obtain standard documents. The CML Handbook has an express section for lenders to cite who to contact to obtain standard documents. Nedbank in their Part 2’s state: Please remember to disclose the firm’s Nedbank solicitors panel reference.