COMPLETIONmonitor

Cynergy Bank Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is an online pre- and post-completion checklist for property lawyers. Supported by the Council of Mortgage Lenders and PI insurers such as AmTrust. It is a unique risk management tool.

This system is the only way you can demonstrate to lender panels that you are, and can remain fully compliant with their instructions, with automatic updates on Cynergy Bank’s changes. While utilising this technology is not a prerequisite for Cynergy Bank , demonstrating you can remain up to date with Cynergy Bank’s Handbook requirements is an excellent support to your panel application and, just as importantly, safeguard your firm’s panel status.

COMPLETIONmonitor generates real-time alerts, automatically produces SRA and CQS reports, and will enhance your firm's efficiency. It is also user friendly, cost-effective and, for many firms, results in a PII saving.

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Mortgage companies often change their requirements. The UK Finance Lenders’ Handbook requirements from Cynergy Bank are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, over time:

A Timeline of Policy Changes

Since 2008, Cynergy Bank has made 168 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 16.2 days. In total, 40% of the sections of P2 of the UK Finance Lenders’ Handbook for Cynergy Bank have been changed since 15/12/2008.

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Recent Changes Include

#	Date	Assoc.	Changes Related To
14.2.1	14/12/2018	CML	Post Completion Conveyancing Where should conveyancing panelfor Bank of Cyprus UK send the title deeds and documents following completion?
17.2.1a	06/12/2018	CML	Redemption Payments Where do solicitors and conveyancers send the discharge and repayment remittance in relation to Bank of Cyprus UK mortgages ?
5.14.9	06/12/2018	CML	Leasehold Conveyancing Contact details at Bank of Cyprus UK for approved lawyers for matters relating to the lease.
5.15.2a	06/12/2018	CML	Leasehold Conveyancing : Management Company Contact details at Bank of Cyprus UK for conveyancing panel lawyers for apparent problems with the management company.
5.5.4	06/12/2018	CML	Planning Permission and Building Regulations : Restrictions Contact details at Bank of Cyprus UK for approved lawyers where the property is subject to restrictions which may affect its value or marketability Restrictive Covenant Indemnity Insurance
6.7.4	06/12/2018	CML	New Build Conveyancing Bank of Cyprus UK panel conveyancer requirements for New Build Conveyancing : will the Bank of Cyprus UK proceed if the property does not have the benefit of a new home warranty scheme
4.5b	17/07/2018	CML	Certificates of Title Contact details at Bank of Cyprus UK for conveyancing panel/approved lawyers where certificate of title should be sent
6.6.1	07/03/2017	CML	Buy to Let Conveyancing Contact details at Bank of Cyprus UK for approved lawyers were the subject property is let/to be let and to check Bank of Cyprus UK lend on buy-to-let.
6.8.1	07/03/2017	CML	Roads and Sewers Contact details at Bank of Cyprus UK for conveyancing panel lawyers if no agreement and bond for an unadopted road or sewer Adoption of Road or Sewer Indemnity Insurance
16.3.2	06/03/2017	CML	Transfer of Equity Bank of Cyprus UK details for requesting debt amount

Last update 16/01/2019