Cynergy Bank Conveyancing Panel Information

This not something that the CML would traditionally get involved with however they do host a number of useful legal related conferences which are attended by firms on the Cynergy Bank conveyancing panel. It is our intention to run specific lender focused seminars in the near future including a webinar on Cynergy Bank’s Part 2 requirements. Practitioners on the Cynergy Bank conveyancing panel will be invited. Further details will be communicated as part of the LENDERmonitor P2 change Notifications.

During 2013, 21 sections of the UK Finance Lenders’ Handbook P2 were changed by Cynergy Bank. Some changes are more important than others but as a firm on the Cynergy Bank conveyancing panel you are of course obliged to comply with individual lender requirements, as set out in Part II of the UK Finance Lenders’ Handbook. Locktons have recently pointed out in an article that non-compliance with Part 2 requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.

Remember: CML requirements are not guidelines; they are the lender client’s instructions.

With lenders and solicitors working so closely with one another it is surprising that there has not been greater demand for the introduction of a bit of transparency regarding not just the figures for the Cynergy Bank conveyancing panel but for all lender panels

It would be advisable to provide details of the date of removal, information on the reason for removal, date of appeal and any reason given for reinstatement. This should not negatively affect your application but gives the CQS team viability as to what has gone on.

You would be advised to get in touch with Cynergy Bank to obtain standard documents. The CML Handbook has an express question for banks to establish who to contact to obtain standard documents. Cynergy Bank in their Part 2’s state: Don’t forget to disclose the firm’s Cynergy Bank conveyancing panel number.