Removal from the Cynergy Bank and other lender panels: Why they do it and how to get reinstated

  • Significant non-compliance with post completion requirements on behalf of Cynergy Bank
  • Your firm no longer meets the criteria to remain on the Cynergy Bank conveyancing panel
  • Failure to act in accordance with the Cynergy Bank panel requirements, the written instructions that Cynergy Bank provide and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which Cynergy Bank may subsequently adopt.
  • Breaches of Cynergy Bank conveyancing panel Terms and Conditions
  • Significant 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.

Answers to Frequently asked questions concerning Cynergy Bank panel reinstatement

  • Am I restricted as to the number of occasions my firm can submit applications to be reinstated on the Cynergy Bank conveyancing panel?
  • Does my practice need to apply annually to remain on the Cynergy Bank conveyancing panel?
  • What will happen if our Cynergy Bank panel reinstatement application is declined and our client has a mortgage application with the Cynergy Bank?
  • To what extent is my firm permanently excluded if my firm’s reinstatement panel application with Cynergy Bank is rejected?
  • Can we act for Cynergy Bank while the appeal for reinstatement on the Cynergy Bank panel is being progressed? How do I know if our reinstatement application to the Cynergy Bank panel is accepted?

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 preferred 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.

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