PEXA has processed over £100m in UK remortgage transactions through its platform, marking significant progress in the digital transformation of property exchanges.
The milestone reflects increasing demand for PEXA’s platform, which supports faster and more efficient processes for lenders and conveyancers.
PEXA Pay has been tested by 11 institutions and is now used by Hinckley and Rugby Building Society and Shawbrook Bank.
The company is also developing partnerships with Metro Bank and NatWest.
PEXA recently launched the Future Property Transactions Group to collaborate with mortgage lenders, conveyancers, brokers, estate agents, and industry bodies, aiming to streamline property transactions.
Currently focused on remortgages, PEXA plans to roll out a sale and purchase proposition by 2025.
Joe Pepper, UK chief executive officer of PEXA, said: “Reaching £100m in transactions in the UK is a watershed moment for PEXA, signalling a new era for the market.
“But we don’t stop here! Our mission is to keep driving the digital transformation that the industry desperately needs to better support conveyancers and lenders, and we can only do that in partnership with key players.
“With major banks on board and as we gear up for our planned sale and purchase launch in 2025, we are primed to streamline the property transaction process for the whole market.”
