Digital property exchange platform PEXA is preparing to launch its full proposition to the UK market in September through a series of regional roadshows.
The Financial Conduct Authority (FCA)- regulated brand will be adding its sale and purchase capability to its existing remortgage platform. The launch will support PEXA’s ability to deliver on its mission to make all property transactions in the UK safer, more secure and more certain for all.
To officially launch and showcase its platform, PEXA is hosting a series of six regional roadshows across the UK to give conveyancers, lenders and other market stakeholders an early view of the PEXA platform. Starting in Leeds on the 9 September and visiting Manchester, Birmingham, Cardiff and Exeter before finishing in London on the 23rd, PEXA is also using these events to bring together industry giants in each region to explore the themes currently impacting the housing market and how the offering can address them, with a series of panel discussions featuring experts from across the sector.
Prior to launch, PEXA has been working with a group of early adopter conveyancing firms to onboard them onto the platform, with a view to trialling the new technology. PEXA completed the first digital transaction in the UK earlier this year in conjunction with Muve and Hinkley and Rugby Building Society, as well as securing formal commitment from NatWest for the lender to implement PEXA for its remortgaging capabilities, with a view to expand this to sale and purchase next year.
In conjunction with its remortgage proposition, PEXA can now facilitate 70% of all transactions in England and Wales.
PEXA has also spearheaded the Future Property Transactions Group, an initiative that bring together regional stakeholders to collaborate on the future of the industry and the solutions required to make the transaction process clearer, safer and more certain for all.
Conveyancers and industry stakeholders who wish to attend the launch events can register their interest here, or sign up for further detail on PEXA’s proposition here.
Joe Pepper, UK chief executive at PEXA, said: “The launch of PEXA’s full proposition marks a historical moment both for the business and the wider UK housing market. We have invested significant time and resource to develop and deploy the trusted digital infrastructure that will support the evolution of property transactions.
“This achievement is a true testament to the team who have worked tirelessly to get to this point. There is no silver bullet solution, and we want our roadshows to serve as a platform for a deeper collaboration with the conveyancing and property industry; but we know the enormous potential of this technology and the positive impact it will have for conveyancers, lenders and their customers. Our launch roadshow provides an exciting opportunity to showcase this.”
“We know cross-industry cooperation is vital as the UK property market aims to create a more reliable, secure and certain transaction process. It is through engagement with the broader industry that we have developed our proposition to help tackle some of the pain points in the transaction journey. The FCA approval is external validation of our considered approach and the controls and systems we have put in place, while the completion of the first digital transaction is proof that this is a solution that truly works in practice. We look forward to working closely with our industry stakeholders and customers as we roll it out broadly.”
