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PEXA launches new API Hub to streamline UK conveyancing process

PEXA UK (PEXA), the world-leading, digital property exchange platform, today announces it has launched its new API Hub to speed up and ease customer integration in a bid to help streamline the conveyancing process in the UK. The Hub hosts all of PEXA’s APIs that have been purpose built for the UK market, enabling UK lenders and law firms to access them in one place. The launch is a significant development for PEXA’s proposition, with APIs key to powering the delivery of 48-hour remortgages to its customers. It marks an important step in PEXA’s plans to extend its offering into Sale and Purchase in early 2025.

With a range of APIs currently available, the PEXA platform enables many of the manual processes associated with property transactions to be digitised, with data flowing directly between lender or law firm systems and the PEXA platform. The APIs can be adopted iteratively to suit an organisation’s specific requirements considering budget, risk policies and strategic priorities, allowing for automation of aspects of the case journey as desired. Lenders and law firms of all sizes will be able to save considerable time and resource, reduce fraud and operational overheads, and drive a faster and more efficient conveyancing journey for themselves and their clients.

Through these APIs, a remortgage can be managed end-to-end through the PEXA platform within 48 hours, with APIs automating all key activities without any further need for manual processes. Customers will additionally have access to enhanced case tracking capabilities, with real-time updates available to existing systems via API as case milestones are reached in the PEXA platform.

 
 

PEXA’s UK API Hub is readily available to all with no login needed and the PEXA team on-hand to provide design and test support as required. The open and transparent approach PEXA has taken ensures smooth adoption of this technology in collaboration with all stakeholders, complementing the existing market infrastructure and processes already in place. PEXA is looking to expand the Hub in future releases with comprehensive user guides that will further simplify customer integration activities.

Commenting on the updated proposition, Joe Pepper, UK CEO of PEXA said: “We recognise that to bring about change in the mortgage process, it needs to be as simple and easy as possible for lenders and law firms to embrace automation. Doing that means making any tech integrations with existing infrastructure as seamless as possible, and that is exactly why we have invested heavily in this new API Hub. It demonstrates PEXA’s commitment and readiness to collaborate with our market peers and work to improve the property transaction journey. Our work to support lenders and conveyancers alike is driving progress in the market, and we are delighted to be offering an updated suite of tools ready for immediate use that can meet the diverse needs of our partners and customers.”

The new Hub comes as PEXA continues to scale its presence in the UK. Having launched PEXA Pay, a new payment system in September 2022, resulting in the UK’s first ever digitally enabled remortgage transaction, it has since established its UK headquarters in Leeds following its acquisition of conveyancing firm Optima Legal in December 2022. Having already onboarded Shawbrook Bank and Hinckley & Rugby Building Society, PEXA has most recently announced it is progressing a strategic partnership with NatWest that will see the UK lender utilise PEXA’s world-leading digital property exchange technology to deliver 48-hour remortgage transactions to its customers.

 

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