NatWest has signed a formal agreement with PEXA Group to begin implementing the digital property platform’s technology across its mortgage operations.
The bank, which accounted for 12.6% of all UK mortgage lending in 2024 and recently expanded its footprint with the acquisition of Metro Bank’s residential loan book, is targeting the completion of digital remortgages by mid-2026.
It also intends to support digital sale and purchase transactions through PEXA in due course.
The announcement marks a significant step in the relationship between the lender and the Australian-founded fintech, following the formation of a strategic partnership in April 2024.
It also comes ahead of PEXA’s planned roll-out of its broader sale and purchase proposition this autumn, which will enable the platform to serve over 70% of transaction types across England and Wales.
PEXA, which has handled more than £100 million in remortgage transactions since launching in the UK, recently achieved authorisation from the Financial Conduct Authority as a payment institution. This enables it to operate as a third party managed account (TPMA) provider for solicitors and conveyancers — an important step in supporting end-to-end digital property deals.
Barry Connolly, managing director for home buying and ownership at NatWest, said: “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.”
Joe Pepper, UK chief executive of PEXA, said the agreement with NatWest represented a pivotal moment for the business. “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 with them going forward to deliver the best possible results.”
He added: “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.”
