NatWest has announced a new partnership with digital property exchange platform PEXA.
The platform plans to launch its UK sale and purchase product offering in the second half of 2025, in conjunction with its existing remortgage proposition, which aims to deliver 48-hour remortgage transactions.
NatWest will proceed with an implementation program to transact remortgages by the end of the first half of 2026 and with the intention of facilitating sale and purchase transactions at a later date.
The news is the next step on the bank’s journey with PEXA, having initially formed a strategic partnership in April 2024 to explore the platform’s capabilities.
NatWest conducted 12.6% of all mortgages in the UK market in 2024 and expanded its reach further in 2025 following its acquisition of Metro Bank’s residential mortgage book last year.
This is a key milestone ahead of PEXA’s launch of its broader sale and purchase solution in the Autumn which will enable it to serve over 70% of property transaction types in England and Wales.
PEXA recently secured FCA authorisation as a payment institution, which also allows it to act as a third party managed account (TPMA) provider to law firms and conveyancers and has already delivered the UK’s first digital sale and purchase transaction as part of a trial phase. The remortgage proposition has also continued to generate momentum, having supported over £100m in transactions since its launch.
Barry Connolly, MD of 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 remortgage 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 CEO of PEXA, added: “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 and purchase solution.”
