Nedbank Conveyancing Panel Information

This not something that the CML would traditionally get involved with but they do host numerous general conveyancing related conferences which are attended by firms on the Nedbank conveyancing panel. We do intend to run specific lender focused seminars in the near future including a webinar on Nedbank’s Part 2 obligations. Solicitors on the Nedbank conveyancing panel will be invited. Further details will be made available as part of the LENDERmonitor P2 change Notifications.

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’.

Please note 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 borrower.

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. Does your ROT and Ts and Cs cover this?

A leading search supplier 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 STL.

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.

Please tread carefully here as what you are suggesting may not be acceptable to the lender. It is possible that you (as a non-panel firm) or the mortgage applicant are not at liberty instruct a panel firm of your choice. An increasing amount of lenders are making it clear to their panel firms that where a non-panel member firm is instructed by one of their mortgage applicants, the lender will appoint a panel firm to carry out its instructions and to liaise with the borrower's conveyancer. You also need to make the costs implications and potential for delay very clear to your client.

In the circumstances please explain on the form what action you have taken to discover the reasons behind cancellation of your Nedbank panel membership. 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 informing you as to why they reached this decision?

You would be advised to communicate with Nedbank to obtain standard documents. The The Council of Mortgage Lenders Handbook includes an individual question for lenders to reveal who to contact to obtain standard documents. Nedbank in their Part 2’s state: It is likely that you will need to disclose your Nedbank conveyancing panel number.