Cynergy Bank is a specialist UK bank focused on business owners, property entrepreneurs, and family businesses. While its name might be relatively new to some, it was formerly the UK subsidiary of the Bank of Cyprus, serving the UK market since 1955.
Following its acquisition by Cynergy Capital in 2018, it rebranded to Cynergy Bank. Today, it operates as a specialist "challenger bank," distinguishing itself from high-street giants by offering relationship-based banking and manual underwriting rather than relying on automated computer decisions.
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About Cynergy Bank
Cynergy Bank is not a mass-market retail bank for the average home buyer. Instead, it positions itself as a "human digital bank" for the "mass affluent" and business sectors.
Its core philosophy is providing a personal connection. Customers typically have access to dedicated Relationship Managers who understand complex income structures (such as self-employed profits, foreign income, or multiple revenue streams) that automated systems at major banks often reject.
Mortgage & Property Finance Products
Cynergy Bank’s lending is split into two main categories: Buy-to-Let Property Finance (for investors/developers) and Private Banking/High Net Worth (HNW) Mortgages (for homeowners).
Residential Mortgages (High Net Worth):
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Target Audience: Unlike high-street lenders, Cynergy’s residential mortgages are typically reserved for High Net Worth individuals. This usually means applicants with an annual net income of £300,000+ or net assets of £3,000,000+
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Features: They offer bespoke lending for main residences and second homes
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Flexibility: They are known for high flexibility on Interest-Only repayment strategies (e.g., sale of property or bonus income) and Lending into Retirement
Property Investment & Buy-to-Let:
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Professional Landlords: They cater to experienced investors, including those with large portfolios
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Commercial Mortgages: Finance for mixed-use properties, offices, retail units, and industrial assets
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Complex Structures: They lend to Limited Companies (SPVs), offshore entities, and trusts
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HMOs & MUFBs: Finance available for Houses in Multiple Occupation and Multi-Unit Freehold Blocks
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Development Finance: Loans for residential and commercial development projects, typically between £5m and £20m.
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Pros and Cons of Cynergy Bank
Here is a balanced overview of choosing Cynergy Bank for your finance.
Pros:
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Manual Underwriting: They do not use a computer to credit score. Every application is assessed by a human underwriter who looks at the wider story, making them ideal for complex income or self-employment
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Relationship Managers: You are often assigned a dedicated point of contact, providing a level of service usually reserved for private banking clients
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Complex Income: They are experts at handling foreign income, complex bonus structures, and retained profits for business owners
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Savings Rates: On the personal banking side, their Online ISA and Fixed Rate Bonds often feature near the top of "best buy" tables
Cons:
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High Entry Barrier: For residential owner-occupier mortgages, the "High Net Worth" criteria rules out the vast majority of standard borrowers
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Legacy Tech Issues: Customer reviews frequently mention frustrations with the online banking interface and authentication app, describing them as clunky compared to modern fintechs
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Not for First-Time Buyers: Unless you are a very high earner, this is not a lender for standard first-time buyers looking for a 95% LTV mortgage
Customer Service and Reviews
Cynergy Bank generally receives mixed reviews, largely split between its savings customers and its borrowing clients.
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Savings Customers: On platforms like Trustpilot, feedback is mixed. While customers love the competitive interest rates, there are frequent complaints about the usability of the online banking system and the "Digipass" authenticator app
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Mortgage Customers: Reviews from borrowers (often via brokers) are more positive, praising the commercial capability and the "can-do" attitude of the Relationship Managers when dealing with complex deals
How to Apply for a Mortgage
The application route depends on the type of customer you are:
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Mortgage Brokers: For most new borrowers, the best route is via a professional mortgage broker. Cynergy Bank works with a select panel of intermediaries who understand their niche criteria and can package your application correctly. You can contact us directly to act as an intermediary for you with Cynergy Bank, get started now to speak to an expert
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Direct Contact: If you are a High Net Worth individual or an experienced property professional, you may be able to contact their team directly to discuss your proposition with a Relationship Manager. However, keep in mind that you won’t get the benefit of comparing their deals with other specialist lenders if you deal with them directly.