Removal from the Cynergy Bank and other lender panels: Why they do it and how to get reinstated
- Non-compliance with the Cynergy Bank panel requirements, the written instructions that Cynergy Bank give you and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which Cynergy Bank may subsequently adopt.
- Cynergy Bank may terminate membership of its conveyancing panel where a firm fails to provide any relevant information or provide incorrect information in its application form or in relation to any future requests for information.
- Breaches of Cynergy Bank conveyancing panel requirements
- Missing deadline to reapply to be on the Cynergy Bank convincing panel
- Recurring delays in registering a charge on behalf of Cynergy Bank Delays or failure to register the Cynergy Bank charge may result in referral to external lawyers of Cynergy Bank to complete outstanding requirements.
Cynergy Bank panel reinstatement : questions that we get asked
- Is it possible to find out this practice’s application for reinstatement is turned down?
- Can we act for Cynergy Bank while the application for reinstatement on the Cynergy Bank panel is being assessed? How do I find out if our reinstatement application to the Cynergy Bank panel is accepted?
- Does my practice need to apply annually to remain on the Cynergy Bank conveyancing panel?
- What are our options if our reinstatement panel application with Cynergy Bank is declined?
- What will happen if our Cynergy Bank panel reinstatement application is declined and the client of the firm has a mortgage application with the Cynergy Bank?
Top Tip: The best way to avoid the hassle of seeking Cynergy Bank panel reinstatement is to ensure that your firm is not removed off of the Cynergy Bank conveyancing panel in the first place.
Note: Subject to certain conditions Lexsure’s experts or consultants can assist in providing you with guidance for reinstatement onto the Cynergy Bank conveyancing panel but under no circumstances will Lexsure (or the Conveycentric Team) submit an application to Cynergy Bank directly or via their appointed panel manager. Any reinstatement application will have to be made by your firm. For the avoidance of doubt, Lexsure (or the Conveycentric Team) are in no way involved in managing the Cynergy Bank conveyancing panel.