Target Group has partnered with PEXA to integrate its digital property exchange platform into Mortgage Hub.
This move aims to boost conveyancing efficiency by allowing Mortgage Hub to use PEXA’s application programming interface (APIs) for settlement and lodgement services.
Customers will have titles lodged with HM Land Registry quickly after funds transfer, reducing fraud and errors.
Target will also build its own conveyancer panel using PEXA’s expertise.
Peter O’Connor (pictured), chief executive of Target Group, said: “Rather than an updated legacy system, Mortgage Hub is the UK’s first digital by design originations platform.
“By combining user-centric design with cutting-edge tech and powerful integrations, we’re able to create a platform that transforms the mortgage process and accelerates the time to offer, improving the experience all round.”
O’Connor added: “Leveraging PEXA’s game-changing platform and process is not just a huge milestone for Target and Mortgage Hub, but in our overall goal to drive the mortgage market forward through a digitised and connected ecosystem.
“Target and PEXA are so closely aligned in our shared ethos and our ambitions for digital transformation, making this partnership a fantastic fit and hugely exciting.”
Joe Pepper, UK chief executive of PEXA, said: “We’re on a mission not only to provide the right tools and technology needed to create more efficient property transactions, but to facilitate the collaboration of all stakeholders to drive positive change in a fragmented but interconnected process.
“With Mortgage Hub’s ability to let lenders build their own version of the platform that suits their specific needs, we’re confident Target Group share our vision for transforming the UK property market.
“The integration of PEXA’s APIs will help drive progress towards more streamlined and joined up property transactions that benefit every person or party involved.”
