Removal from the Cynergy Bank and other lender panels: Why they do it and how to get reinstated
- Recurring delays in registering security 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.
- Breaches of Cynergy Bank conveyancing panel requirements
- Your firm no longer meets the criteria to remain on the Cynergy Bank conveyancing panel
- Recurring non-compliance with post completion requirements set by Cynergy Bank
- 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 subscribe.
Answers to Frequently asked questions concerning Cynergy Bank panel reinstatement
- How often will this firm be required to re-apply to remain on the Cynergy Bank conveyancing panel?
- Is there a limit to the amount of times my firm can submit applications to get back on the Cynergy Bank conveyancing panel?
- What is the application process to revert back onto the Cynergy Bank conveyancing panel?
- Is there a cost to be reinstated onto the Cynergy Bank conveyancing panel?
- To what extent is my firm permanently excluded if my firm’s reinstatement panel submission with Cynergy Bank is rejected?
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.