Pexa forms working group to speed up West Yorkshire transactions – Mortgage Strategy
Pexa has initiated the Future Property Transactions Group, a collaborative effort involving lenders, brokers, law firms, and other entities, to streamline and enhance the property transaction process. The group, which includes Leeds Building Society, Legal & General, West Yorkshire Combined Authority, Mortgage Advice Bureau, Arch Law, and the Open Property Data Association, aims to pilot its initiatives in West Yorkshire. The goal is to leverage the region s strengths in the financial, legal, and property sectors to demonstrate the advantages of efficient collaboration. The integration of data and technology is expected to result in improved efficiency, significant cost and time savings, enhanced customer experience, and reduced fraud risk. This regional pilot will serve as a proof point for a potential nationwide solution. Leeds Building Society s CEO, Richard Fearon, emphasizes the organization s commitment to making homeownership more accessible and simplifying the home-buying process. Pexa UK s CEO, Joe Pepper, highlights the inefficiencies caused by the fragmented nature of property transactions and the group s ability to foster better collaboration among stakeholders. The Future Property Transactions Group aims to collect both quantitative and qualitative data to support a broader, countrywide implementation of their solution, addressing a national issue and potentially transforming the property transaction landscape.
Source: mortgagestrategy.co.ukPublished on 2024-10-01
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