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Q and A’s regarding the Cynergy Bank Conveyancing Panel
My IFA has asked me for my solicitor’s panel member for the Cynergy Bank conveyancing panel. How do I find this out. I have tried my local Cynergy Bank branch but they have not got back to me yet.
You are best placed to get this information from your conveyancing lawyer. A law firm is likely to keep a file or database of lender panel information which would include, if applicable their conveyancing panel details for Cynergy Bank.
My husband and I changing mortgage lender for our penthouse with Cynergy Bank. We have a son 18 who lives with us. The solicitor on the Cynergy Bank conveyancing panel has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the flat is repossessed. I have a couple of questions (1) Is this form unique to the Cynergy Bank conveyancing panel as he did not need to sign this form when we purchased 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Cynergy Bank .This is solely used to protect the Cynergy Bank if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Cynergy Bank had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Do all the licensed conveyancers and solicitor practices listed on your search have online case tracking as I was under the impression that this was a precondition of being on the Cynergy Bank solicitor panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
I would like to get my ex-husband removed the mortgage deeds. Can Cynergy Bank really tell me which solicitor I can or can not instruct?
You can use any solicitor you like but Cynergy Bank then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Cynergy Bank solicitors panel
Last month we had a mortgage agreed in principle with Cynergy Bank. Solicitors have been instructed? What is the average time that one could expect to receive a mortgage offer from Cynergy Bank?
There is no definitive answer here. Have Cynergy Bank completed the survey? Have you advised Cynergy Bank as your lawyers details and checked that your lawyer is on the Cynergy Bank conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
The mortgage over my property is with Cynergy Bank. Conveyancing has been completed some time ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Cynergy Bank?
You must advise Cynergy Bank prior to letting out your property as this is likely to be a breach of Cynergy Bank’s mortgage conditions. It may be that Cynergy Bank will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Cynergy Bank directly. It should not be necessary to do this via a Cynergy Bank conveyancing panel solicitor.
On the whole I have been dissatisfied with the level or service received from my lawyer. Is there a Cynergy Bank conveyancing panel complaints department or do I complain directly to the law firm?
There is little point in complaining directly to Cynergy Bank. Every solicitor firm and conveyancer must have a complaints procedure. You can get information from the solicitor’s or conveyancer’s website or ask at their office. They must tell you about it if you ask.
The Legal Ombudsman will make sure that your complaint is properly dealt with by the solicitor. It can also advise you how to complain.
If a licensed conveyancer does not have a complaints procedure or will not tell you about it, contact the Council for Licensed Conveyancers (CLC), which will make sure that your complaint is properly dealt with by the conveyancer. Please see below for more information.
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Transfer of Equity for Cynergy BankPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors