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.
Find an Approved Solicitor on the Cynergy Bank Conveyancing Panel
Frequently asked questions relating to the Cynergy Bank Solicitor Panel
We are purchasing a 2 bedroom flat in Newcastle with a mortgage from Cynergy Bank. We would like to retain our solicitor but Cynergy Bank says she’s not on their "panel". It seems we have little choice but to instruct one of the Cynergy Bank panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Cynergy Bank conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Cynergy Bank
We are only a couple days away from an exchange and my parents having sent the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to disclose this to my lender Cynergy Bank. Apparently, being on the Cynergy Bank conveyancing panel and acting on their behalf he must inform Cynergy Bank if the balance of the mortgage advance is not just from me. I informed the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for him to raise this?
Your lawyer is obliged to check with Cynergy Bank to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Cynergy Bank if you agree, failing which, your lawyer must cease to continue acting.
I note that you have a post code search directory listing firms on the Cynergy Bank conveyancing panel. Do firms pay you a referral fee if I retain them for my conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the Cynergy Bank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
Please explain the implications if my lawyer’s firm is expelled from the Cynergy Bank Conveyancing panel before the moving date as agreed at exchange of contracts?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Is there a list of Cynergy Bank panel solicitors on the Building Society Association’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
My brother and I have agreed a price on a apartment I spoke to a solicitor recommended by my dad and he suggested retaining a property lawyers approved by Cynergy Bank. The estate agent recommended two local firms so I asked Cynergy Bank if the 2 suggested solicitors are approved, which they are not. Cynergy Bank suggested that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Cynergy Bank 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Enquire of Cynergy Bank for conveyancing panel firms in your area. Lenders have them all over the country. You can also use our search tool at the top of this page to search for a lawyer on the Cynergy Bank conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Cynergy Bank conveyancing panel as it may only take about 2-3 weeks. As long as they meet Cynergy Bank’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
I can not work out if my mortgage offer requires a lease extension . I have telephoned Cynergy Bank on numerous occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Cynergy Bank conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
Your lawyer has to follow the CML Handbook Part 2 requirements for Cynergy Bank. Unless your lawyer obtains specific confirmation in writing that Cynergy Bank will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Cynergy Bank to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.