The bank, which accounts for more than 12% of Britain’s mortgage lending, said the implementation would start with fee-assisted remortgages, but sales and purchase transactions will follow later.
Barry Connolly (pictured), managing director for home buying and ownership at NatWest, said: “We are delighted to go live with this solution, which makes things simpler, easier, faster, and more transparent for customers.
“PEXA has a strong track record of driving transformational customer experiences within the Australian market, which we want to bring to the UK to benefit our existing and future customers. We look forward to strengthening our partnership with PEXA throughout 2026 and beyond.”
Digital-only transactions
Pexa launched in the UK in 2022 and pioneers digital-only property transactions. In July last year, it said Hinckley & Rugby Building Society was the first to complete a transaction entirely digitally.
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The business is the UK’s only Financial Conduct Authority (FCA)-regulated digital property completion infrastructure, meaning that it can receive funds directly from the consumer, acting as a third party-managed account (TPMA) provider to conveyancers for property transactions.
Pexa also works with Shawbrook, Metro Bank, and a number of other UK lenders. A market leader in Australia, where 90% of all property transactions use the system, it said it wants to improve the property buying process for everyone.
Joe Pepper, Pexa’s UK chief executive, said: “Given the current volatility in the mortgage market, the benefit of being able to offer more customers faster completions on remortgages is clear.
“The NatWest and Pexa project teams have worked closely together to deliver a highly integrated solution for remortgage transactions, and I’m very proud that we have reached this important milestone with NatWest ahead of schedule.
“This announcement illustrates the continued progress we are making as we work alongside mortgage lenders and conveyancers to modernise UK property transactions, making them more efficient, more certain and more secure. In doing so, we believe this can deliver better outcomes for lenders, conveyancers, mortgage brokers and consumers alike.”
