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NatWest has signed a formal commitment to implement PEXA's digital property exchange platform, targeting remortgage transactions by the end of the first half of 2026 and intending to facilitate sale and purchase transactions thereafter.
The FTSE-100 listed bank, which is the UK's third largest mortgage lender, conducted 12.6% of all mortgages in the UK market in 2024. Its market presence expanded further in 2025 following the acquisition of Metro Bank's residential mortgage book.
PEXA Group Limited is a world-leading digital property exchange and data insights business listed on the Australian Stock Exchange. Since 2013, the company has facilitated more than 16 million property settlements, with around 90% of all property transfer settlements in Australia now processed on its platform.
The formal commitment represents the next step in the relationship between the two companies, which initially formed a strategic partnership in April 2024 to explore the platform's capabilities. The move comes ahead of PEXA's broader sale and purchase solution launch scheduled for autumn, which will enable it to serve over 70% of property transaction types in England and Wales.
Barry Connolly, MD Home Buying & Ownership at NatWest
Barry Connolly, MD Home Buying & Ownership at NatWest, said the partnership would help simplify customer experiences. "We always place our customers at the centre of everything we do. 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. We look forward to seeing the results."
PEXA has made significant progress in the UK market during the first half of 2025. The company recently secured FCA authorisation as a payment institution, which allows it to act as a Third Party Managed Account (TPMA) provider to law firms and conveyancers. It has already delivered the UK's first digital sale and purchase transaction as part of a trial phase.
The remortgage proposition has gained momentum since its launch, having supported over £100m in transactions. PEXA launched its remortgage capability in the UK in 2022, building on existing partnerships with Shawbrook Bank and Hinckley and Rugby Building Society.
Joe Pepper, UK CEO of PEXA
Joe Pepper, UK CEO of PEXA, described the commitment as pivotal for the company's mission. "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 its customers and commit to adopting our Platform to support its remortgage transactions. It would not have been possible without the fervent commitment of Barry and his team, and we're excited to work them going forward to deliver the best possible results."
"We see this as an important milestone for the broader property market as we demonstrate the value of PEXA's proposition at scale. Building on the momentum established through our work with Shawbrook Bank and Hinckley and Rugby Building Society to date, Autumn 2025 is set to be even more critical for our business and in the wider industry as we launch our new Sale & Purchase solution."
