New digital initiative launched to tackle home buying delays
The Future Property Transactions Group has been established to address delays in the home buying process by fostering collaboration among various stakeholders. The group includes Pexa, a fintech company specializing in digital property exchanges, as well as Leeds Building Society, Legal & General (L&G), West Yorkshire Combined Authority, Mortgage Advice Bureau (MAB), Arch Law, and the Open Property Data Association (OPDA). The group s primary goal is to streamline the property transaction process, making it more efficient and seamless for all parties involved. The group s initial focus will be on West Yorkshire, and its inaugural meeting will take place during the Leeds Digital Festival. Richard Fearon, chief executive of Leeds Building Society, emphasized the importance of making homeownership more accessible and easier to achieve. The group aims to achieve cost savings, improve customer experience, and reduce the risk of fraud. It plans to develop a regional solution that could be implemented nationwide. Pexa s chief executive, Joe Pepper, highlighted the group s potential to address inefficiencies in the property market by promoting better collaboration and utilizing technology. Maria Harris, chair of the OPDA, also stressed the importance of collaboration and communication in achieving the group s goals. The Future Property Transaction Group will continue to convene and expand its membership as the initiative gains momentum. The pilot program in West Yorkshire is expected to provide valuable insights for potential nationwide implementation.
Source: mortgagesolutions.co.ukPublished on 2024-10-01
Related news
- REVEALED : The number of Oxfordshire pubs that have closed during the pandemic
- How EtherCAT helps industrial communications | Control Engineering
- BRI projects untouched amid Myanmar riots
- 90 million euros will increase the IQ of eleven Greek cities - Ειδήσεις - νέα
- Bridging the compatibility gap
- SKT to Lead AI Transformation in Industry and Society with AI Services and Technologies
- Australian police probe purported hacker ransom demand
- Recent Moves in Washington Signify Ongoing Focus on Open Banking Adoption in the U . S .
- Building cyber resiliency in public services
- Silicon Valley and WEF - Backed Foundation Announce Global Initiative for COVID - 19 Vaccine Records
- Bottomless pits ? Cost of government ventures
- Setting Democratic Ground Rules for AI : Civil Society Strategies
- UK Gambling Regulator Unveils New Guidance to Help Combat Problem Gambling
- Pexa forms working group to speed up West Yorkshire transactions – Mortgage Strategy
- An OIX perspective on digital identities and trust