Cynergy Bank Conveyancing Panel Compliance Audit

If your firm values Cynergy Bank as a conveyancing client then it’s time to commit to a Cynergy Bank panel compliance audit.

Cynergy Bank is most likely one of your most valued clients for conveyancing work.

How certain are you that you are strictly following the instructions as a practice on the Cynergy Bank conveyancing panel?

You may prefer to use your current Lexcel auditors but Lexsure stand alone in being able to carry out a full lender panel compliance audit for your conveyancing files where Cynergy Bank are the lender.

Our full database of Cynergy Bank Handbook instructions enables us to audit a law firms’ conveyancing files whilst on the Cynergy Bank conveyancing panel retrospectively and in the similar manner Cynergy Bank would.

Our panel of expert auditors independently review utilising propriety templates and Lender P2 archives whether each conveyancing matter was in line with the requirements at the point that the CoT was issued.

In the absence of your search company offering the service as part of your account management the costs is £1,975+VAT. Our team will review eight transaction files involving Cynergy Bank, which we can stratify by tenure (e.g. leasehold) year of completion or a mix variables.

Once finished, Lexsure will issue a detailed compliance profile for your cases with Cynergy Bank and a baseline risk summary. We will also follow-up with you to explain our auditor’s findings and recommendations in a formal interview. Subsequent audits will occur. Lexsure will contact the head of conveyancing to request the status of actions taken. No more than two lender conveyancing panel audits may be requested by a firm in a twelve month period.

Lexsure’s Conveyancing Audit Scheduling System (LCASS) enables you to choose the date, time and location of a Cynergy Bank conveyancing panel compliance audit. The system is available 24/7, which eliminates most instances where you have to wait for business hours to contact Lexsure to schedule or reschedule a Cynergy Bank panel compliance file audit. Please note that before accepting a Cynergy Bank conveyancing panel compliance audit we have to conduct a conflict check. It is sometimes not possible for Lexsure to carry out a Cynergy Bank panel Part 2 compliance file audit

Cynergy Bank Conveyancing File Audits : Ask Us Anything


I am told that if I arrange an audit through certain search providers that I can have the lender compliance conveyancing audit for free. Is that right?

As of today we we have not heard of any such offer but please contact your search provider directly and ask them to call us. Once in a while discount voucher codes are available via certain search providers on a specific panel.

Does Lexsure outsource their P2 Handbook compliance audits to an external panel of conveyancing specialists?

No. We do not outsourcelender compliance audits to an external panel of conveyancing experts. Audits are completed by our in-house team.

Why would my firm consider a Cynergy Bank handbook compliance audit?

Lexsure often talk with Cynergy Bank conveyancing panel firms who are confident that they have robust compliance protocols. Yet Lexsure sees common breaches of the lender Handbook instructions. In fact, we have yet to complete a single audit that didn’t uncover serious breaches. An adverse externally-commissioned audit by a lender could result in an insurance claim or removal from a panel. Non-compliance with handbook requirements for Cynergy Bank or any lender leaves you open to costly and damaging claims if the lender suffers a loss and even regulatory action by the SRA. Lexsure’s lender compliance audits are the best way to ensure all is in order.

What is the selection criteria for joining the Cynergy Bank conveyancing panel?

You will need to check with Cynergy Bank directly or their panel manager, if any. Lexsure is not connected with Cynergy Bank in managing their conveyancing panel or selection criteria.

How do Cynergy Bank select files for audits?

We are not aware as to the reasons why Cynergy Bank would select a file from a conveyancing practice presently on or previously on their conveyancing panel