Find a Law Firm
approved by CynergyBank
Ready to buy a new home? Failing to check that a lawyer is on the CynergyBank list of approved solicitors can put your transaction at risk of delay or failure.
Looking for information about your firm's panel status?
How does my firm apply to be on the Cynergy Bank Conveyancing Panel? How can my firm be reinstated onto the Cynergy Bank Conveyancing Panel?Find an Approved Solicitor on the Cynergy Bank Conveyancing Panel
Cynergy Bank Solicitor Panel Sample Enquires to our Call Center
Am I correct in assuming that the fact that my solicitor is not isted on the Cynergy Bank Conveyancing panel that there is a problem with the standard of the firm’s conveyancing?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Cynergy Bank.
Our conveyancer has discovered a defect with the lease for the property we are purchasing. The other side have offered defective title insurance as a workaround. We are happy with insurance and will pay for it. Our solicitor says that as he is on the Cynergy Bank conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or Cynergy Bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Cynergy Bank are the client. A precondition to being on the Cynergy Bank approved panel is to comply with the CML Handbook requirements (last updated for this lender on Cynergy Bank). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Cynergy Bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I am looking for conveyancing quotes online. Can I be assured that all the practices that are identified on your website are on the Cynergy Bank conveyancing panel?
The law firms on our directory have assured us via an online form that they are on the Cynergy Bank panel and agreed to advise us to take down their listing in the event of removal off of the Cynergy Bank panel. To date we have not been informed by either a bank or a member of the public that the data about a specific firm being on the Cynergy Bank conveyancing panel is not accurate.
I was scheduled to move into my dream home last Friday. My lawyer’s firm is on the Cynergy Bank solicitors panel but has changed address 8 weeks ago and had not informed Cynergy Bank of their new address. Cynergy Bank has locked down the release of mortgage funds until such time as their systems are up to date with the correct details.
This is a rare situation indeed. The majority of lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Cynergy Bank branch or your mortgage broker to see if they can assist.
I currently have a mortgage with with Cynergy Bank. Conveyancing has been completed a year ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Cynergy Bank?
Cynergy Bank must be informed of your intention prior to renting your property as this is likely to be a breach of Cynergy Bank’s mortgage conditions. In many cases banks or building societies 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 firm.
I am selling my apartment. I had a double glazing fitted in month 6 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Cynergy Bank are being difficult. The solicitor who is on the Cynergy Bank conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Cynergy Bank are requiring a building regulation certificate. Why do Cynergy Bank have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Cynergy Bank have referred the matter to their valuer. The reason why Cynergy Bank may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.
Cynergy Bank have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Cynergy Bank or your broker and complete any relevant paperwork. Cynergy Bank will tell you what documents they want. Cynergy Bank will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Cynergy Bank will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.
Other Topics
Transfer of Equity for Cynergy BankPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors