NatWest has signed a formal commitment with PEXA to proceed with an implementation programme for remortgage transactions by the end of the first half of 2026, with the intention of facilitating sale and purchase transactions.
The FTSE-100 listed bank is the third largest mortgage lender in the UK and was responsible for 12% of all mortgages in the UK in 2024. Digital property exchange and data insight company PEXA has called the move ‘a key milestone’, as it prepares to launch a sale and purchase solution that will enable it to serve over 70% of property transaction types in England and Wales.
‘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’, PEXA said.
Barry Connolly, MD of home buying and ownership at NatWest, said the technology would help the bank simplify experiences for NatWest customers. He added:
“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.”
In May, PEXA 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. The accreditation was followed in June by the UK’s first digital sale and purchase transaction as part of a trial phase.
Joe Pepper, UK CEO of PEXA, said of the agreement with NatWest:
“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.”
