Hinckley & Rugby Building Society has conducted PEXA’s first UK transaction, introducing its digital remortgage system to the UK market.

The Society announced its partnership with PEXA – which owns and operates Australia’s online property exchange network – in August. The paperless system was designed to revamp the remortgage process for consumers, lenders and conveyancers.

Sarah Johnson, the Society’s head of lending, said: “It was a privilege to undertake PEXA’s first UK transaction and to be a part of bringing this exciting system to our customers.

“The platform will be a huge benefit to both our direct customers and those who deal with us through mortgage brokers, and we are proud of the role we have played in developing a revolutionary new offering in readiness to the UK market.”

Colin Fyfe (pictured), Hinckley & Rugby’s chief executive, added: “We’re extremely proud of our role in undertaking the UK’s first PEXA remortgage transaction and to be the first financial establishment in the UK to offer its platform to our customers.

“By offering PEXA’s digitised method, we are responding to a growing expectation from customers for modernised and more efficient services. As a mutual business, we very much support the development of such innovations so that we can continue to deliver the best possible service we can for our members.”