Nedbank Conveyancing Panel Information

Nedbank make no specific obligation to carry out any of the searches listed. The UK Finance Lenders’ Handbook simply states that ‘you must ensure that any other searches which may be appropriate to the particular property, taking into account its locality and other features are carried out’.

Remember that most ‘less usual searches’ (as described in the Law Society’s Conveyancing Handbook) are not optional as far as Nedbank are concerned if they are ‘appropriate’. Most lenders will not require environmental searches (you should Check Part 2 of UK Finance Lenders’ Handbook to be sure), but you are obliged to explain risks and availability to the client.

Ground stability, Plansearch,flood searches as well as the searches listed in the question are optional – but only to the extent that you have allowed the borrower client to make an informed choice. Regardless of whether there is a mortgage, If you have not advised the client that these (and other) searches are available and what risks they cover, then you will be liable if the client suffers loss through not conducting one. Is this covered within your Terms of Engagement or Report on Title?

A leading search provider lists over 70 conveyancing searches – do you know what all of them are and when they may be relevant? If you are unsure as to which searches are appropriate based on location call your search provider or call one of the leading search companies such as Searches UK.

Lexsure only know of two or three lenders that operate a separate approved solicitors panel where the mortgage advance is over a certain amount. You should nevertheless check directly with Nedbank. At one stage HSBC would only allow Sole practitioners to act for them where the mortgage was below £150,000. We are not sure if HSBC still operate such a condition. In your case it is best to check with Nedbank

Nedbank approved panel lawyers have to comply with the Part II instructions relating to Transfer of Equity. These are set out in Section 16.3. First, your firm must approve the form of Transfer of Equity (which should be in the Land Registry's standard form) and, if Nedbank require, the deed of covenant on their behalf. You will need to check Nedbank CML Part 2 conditions to see if Nedbank have standard forms of transfer and deed of covenant. Please note that this requirement can change from one transaction to another so do check! Second,When drafting or approving a transfer, you should bear in mind that: although the transfer should state that it is subject to the mortgage (identified by date and parties), it need give no details of the terms of the mortgage; the transfer need not state the amount of the mortgage debt. If it does, the figure should include both principal and interest at the date of completion, which you must check ; there should be no statement that all interest has been paid to date. Further obligations are set out in the UK Finance Lenders’ Handbook which have to be followed by all firms on the Nedbank conveyancing panel

11 consumers search for a conveyancing practitioner on the Nedbank panel every 4 weeks in Hendon. Feel free to contact the Lexsure team who will tell how your firm can be identified by those searching for conveyancing in Hendon.

In this situation please explain on the application what steps 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 termination of your panel membership did you receive any letters or calls from the lender informing you as to why they reached this decision?

You should communicate with Nedbank to obtain standard documents. The CML Handbook incorporates an express inquiry for banks to establish who to contact to obtain standard documents. Nedbank in their Part 2’s state: It helps to disclose the firm’s Nedbank conveyancing panel number.