NatWest has signed an agreement with homemoving platform Pexa to help the bank boost its digital remortgage transactions by the end of the first half of next year.
The firms say: “Participating on Pexa’s platform will be a significant step in assisting NatWest with increased speed and certainty for digital remortgage and sale and purchase transactions to homeowners, as it looks to drive efficiency, and greater transparency to provide the best outcomes for its customers.”
NatWest handled 12.6% of all mortgages in the UK market last year and expanded its reach following its £2.5bn purchase of a portfolio of prime residential home loans from Metro Bank last July.
NatWest managing director home buying & ownership Barry Connolly says: “Growing our business can only be successful if we are anticipating and meeting our customers’ needs.
“To do this, we use data and technology to make property transactions and re-mortgage processes more efficient. The Pexa platform will help to reduce the administrative burden and reduce the risk of fraud.
“This partnership will also accelerate processes through the automatic sharing of data between parties.”
Pexa UK chief executive Joe Pepper adds: “Our goal has always been simple – collaborate with the industry to make transacting property in the UK more seamless, more certain and more secure.
“In doing so, we know we will deliver better outcomes for lenders, conveyancers and consumers alike.
“It is a pivotal moment in our mission for a lender the size of NatWest to see the potential benefits Pexa brings to its customers and commit to adopting our platform to support its remortgage transactions.”
