Buy to Let - Nedbank Conveyancing Requirements for Properties Let at Completion

Nedbank legal requirements are explicit in Part 1 of the Lenders Handbook which provides that unless it is clear from the mortgage offer that the property is tenanted or is to be let at completion then you must check with Nedbank as to whether Nedbank lend on "buy-to-let" properties and that the loan is for that purpose.

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Previously updated on 22/08/2019 Part 2 of the UK Finance Lenders’ Handbook for Nedbank deals with who you need to contact If different from section 1.11, i.e the contact point if property is let or to be let. It also deals with whether Nedbank lend on buy-to-let

You must refer to us. Our instructions will usually advise the occupancy status of the property. Please advise if your perception is different to that advised by us.

Where the property, or part of it, is currently let, or is to be let at completion, then the letting must comply with the details set out in the Nedbank mortgage offer or any consent to let Nedbank issue. If the letting fails to comply, or no such details are specified, you must report the position to Nedbank

Part 2 of the UK Finance Lenders’ Handbook for Nedbank deals with who you need to contact If different from 1.11, i.e the contact point when you do not have details of current letting or letting to take place at completion:

You must refer to us.

Firms authorised on the Nedbank conveyancing panel,when it comes to buy to let properties need to check Part 2 of the UK Finance Lenders’ Handbook as to whether counterparts or certified copies of all tenancy agreements and leases in respect of existing tenancies must be sent to Nedbank after completion

In considering whether the bank requires a counterpart letting agreement to be sent Nedbank specifically states:

Yes.

The information contained within this webpage is for general information purposes only for lawyers in England and Wales, it does not constitute advice and you should always check the UK Finance Lenders’ Handbook for Nedbank Buy to Let requirements as well as the mortgage offer. Whilst we endeavour to keep the information up to date and correct but does not make any representation or warranties of any kind about its completeness, accuracy, reliability or suitability. Any reliance you place on the information is strictly at your own risk. Lexsure will not be liable for any direct or indirect loss or damage arising out of or in connection with the use of this information. The same caveat applies to members of the public looking at this page. If you wish to find a buy to let conveyancing specialist on the Nedbank panel or a buy to let mortgage broker click here.