Leeds, 11th February 2025 – PEXA, the world-leading, digital property exchange platform, today announces the strengthening of its UK remortgage proposition with the introduction of ‘transfer of equity’ functionality. The new offering allows for PEXA to accommodate the legal transfer, addition or removal of a proprietor during the remortgage process.
The launch marks important progress for PEXA and its partners as it looks to drive efficiency and improvement in the remortgage process. c.15% of UK remortgage transactions include an element of equity transfer, so adding this capability means PEXA is now able to process these transactions. As such, it can now support over 80% of all remortgage transactions in England and Wales within its platform, driving automation and efficiency for both lenders and conveyancers.
Following the news that the PEXA platform helps complete complex buy-to-let remortgages at least ten days faster than they would otherwise be processed, finalising a transaction in 36 working hours, and that it has processed over £100m worth of UK remortgage transactions, the launch showcases PEXA’s continued commitment to growth in the UK market.
Commenting on the new proposition, Joe Pepper, UK CEO of PEXA said: “Our goal is to make a remortgage transaction as seamless as possible for homeowners, lenders, brokers and conveyancers alike. Introducing transfers of equity to our service offering is key to achieving this vision and the team has worked hard to bring it to life. The momentum we are building truly demonstrates the remarkable potential for efficiency in the property market, making a significant difference to our clients and the industry as a whole.”
PEXA is continuing to develop its products in a bid to improve the back-end infrastructure supporting the property sector. The platform’s sale and purchase proposition is also currently in pilot testing, with plans to roll it out later in 2025.
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About PEXA
PEXA is a world-leading, digital property exchange and data insights business, listed on the Australian Stock Exchange. Since 2013, PEXA has facilitated more than 16 million property settlements, and today, around 90% of all property transfer settlements in Australia are processed on the PEXA platform. In 2022 PEXA launched its remortgaging capability in the UK.
For more information, please contact:
Verdi Taylor-Bishop – UK Chief Marketing Officer, PEXA
E: verdi.taylor-bishop@pexa.com.au
Dan Pike – Senior Director, MHP Group (on behalf of PEXA)
E: Pexa@mhpgroup.com
M: +44 (0)7738 837852
