- PEXA (PXA) confirms its first wave of lenders will begin digital remortgaging in the UK by the end of this year
- The company has secured lenders Hinckley & Rugby Building Society and Shawbrook Bank to use the PEXA UK platform for remortgaging transactions
- Over the next couple of months, the company will onboard both lenders and plans to secure additional lenders in subsequent waves, aligning with available landing slots within the Bank of England’s Real-Time Gross Settlement upgrade
- Shares close 0.07 per cent higher today at $14.75.
PEXA Group (PXA) has confirmed its first wave of lenders will begin digital remortgaging in the UK by the end of this year.
The company has secured lenders Hinckley & Rugby Building Society and Shawbrook Bank to use the PEXA UK platform for remortgaging transactions.
This follows successful testing of the PEXA Pay system earlier in the year.
Over the next couple of months, the company will onboard both lenders and plans to secure additional lenders in subsequent waves, aligning with available landing slots within the Bank of England’s Real-Time Gross Settlement upgrade.
The company said its goal is to centralise and streamline the property mortgage remortgage and completion progress in international markets, starting with the UK.
UK CEO James Bawa said it plans to improve its processes through technology and better industry collaboration.
“The enthusiasm and support received from lenders demonstrate their drive to adopt technology for the benefit of their customers,” he said.
“We are taking a considered approach to enter the UK market as we understand the criticality of the completions process and must ensure we take our time to build and launch the right proposition for the market.”
Shares closed 0.07 per cent higher today at $14.75.