Announcements | Outages, Service Charter updates etc

Please note, we have identified a service issue which may intermittently impact some users from accessing pexa.net.au or completing settlement online. I will keep you up to date with further developments. We regret any inconvenience this may cause. If you're experiencing any of these issues, let me know below. 

Emily, PEXA Community Manager

Hi all,  

PEXA Release 6.1.1 has been delayed by one week to complete final testing and quality validation of the Transfer of CT Control (pull) bulk upload solution and cater for some additional feedback from the market. This is now scheduled to go live September 11. For information on this release, please refer here. 

In line with the PEXA System Pricing Policy, the annual PEXA pricing increase comes into effect on Tuesday 1 August, 2017.

The new pricing table inclusive of GST for the key transactions from 1 August 2017 is:

 The full pricing table is available here.

*Settlement Notices and Settlement Notice Withdrawal fees for single & multiple titles will be automatically discounted to $8.80 from 1 August 2017.

Settlement Notices (QLD)

From 1 August 2017 the PEXA fee for Settlement Notices will be applied for all Settlement Notices completed electronically through PEXA. To align with the PEXA fee for Priority Notices in New South Wales and Victoria, the PEXA fee to lodge or withdraw Settlement Notices will be discounted to $8.80 per title ($8.80 per single title and $8.80 for multiple titles). This is a great saving from the current cost of $19.03 to lodge or withdraw a Settlement Notice for a single title and $32.45 to lodge or withdraw a Settlement Notice for multiple titles.

Determining the fee increase

The annual review of PEXA fees for electronic lodgements is determined in accordance with the PEXA Pricing Policy. A number of elements are taken into account when reviewing the PEXA fees. The first element is the change in the weighted average lodgement support services (LSS) costs from the Land Registries. Any change in the weighted average LSS is passed through directly. The second is the Consumer Price Index (weighted average of eight capital cities) published by the Australian Bureau of Statistics (ABS 6401.1) CPI for the period has increased by 2.1% and this was applied to PEXA's operational cost component. The third element relates to changes to PEXA's direct input costs (including, for example, costs that may be introduced by third parties which materially impact the cost of providing services), although no additional costs were factored into the most recent price review.

What next?

PEXA will continue to expand its capability to support a broader range of transaction types and reduce existing exclusions throughout the 2018 financial year and beyond. An extensive program of work is also underway to continue to enhance the PEXA user experience. We will be working closely with members of the e-Conveyancing Community to define, test and deliver this program.

If you have any questions regarding the changes to PEXA fees pleas get in touch. Contact our dedicated Support Team on 1300 084 515 or at support@pexa.com.au.

Updating the Fees in an existing Workspace
If you have an existing Workspace that is scheduled to settle after 1 August 2017, you may need to update your Workspace to have the latest fees accurately reflected. See more information on what to do here.

There is a bank holiday in NSW on Monday August 7. Confirming this will have no impact on PEXA transactions that day in NSW, and electronic settlements will proceed as per usual. However there will be reduced settlement hours (last slot 4.30pm AEST). For more information on hours of operation please refer to the Service Charter (point 8.2.). 

PEXA Release 6.1 is now live! Read all details in the Release notes here. 

In this release, PEXA introduces the ability to:

• Process a new National Mortgage form in NSW, QLD, SA and WA.
• Transfer CT control via the Transfer of CT document
• Flag a workspace as being associated to a commercial transaction, assisting financial institutions to route and complete work relevant to their business unit.
• Select more than one title when sending an invitation
• Marking conversations as read [updated 28 June]

 With PEXA Release 6.1 going live on Monday 24 July 2017,  the PEXA Service Charter has been updated to reflect new functionality being introduced.

Find attached a marked-up copy of the PEXA Service Charter, highlighting the latest changes. 

Useful Links:

• PEXA Service Charter
• PEXA Release 6.1 Information 

The PEXA platform will be offline from 3pm to midnight on Saturday 22 July 2017 to prepare for Release 6.1 which goes live Monday 24 July. 

The Service Charter has been updated on Monday 6th March 2017 on the PEXA website, in accordance with changes being introduced for Release 5.1.

You can find the Service Charter here.

The Service Charter will be updated on Monday 8 August 2016 on the PEXA website, in accordance with changes being introduced for Release 4.1.

You can find the Service Charter here.

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Section 2.18 PEXA will support linked Lodgements
PEXA will provide capability to enable Subscribers who are, or who are acting for, an incoming mortgagee or a mortgagee on title to complete Sequential Lodgements or Simultaneous Lodgements.
Electronic Workspaces are linked via the Settlement Schedules of the relevant Electronic Workspaces.
PEXA will make the link request available to be accepted by the same Subscriber within the Electronic Workspace to be linked. Once the link request is accepted by the relevant Subscriber, PEXA will Link the Electronic Workspaces.

2.18.1 Sequential Lodgement
PEXA will not commence settlement of a Trailing Electronic Workspace(s) unless:

• the Lodgement and Financial Settlement in the first (or Preceding) Electronic Workspace has completed successfully; or
• where applicable, the relevant Subscribers have selected Lodgement Override in the Preceding Electronic Workspace.

PEXA will only facilitate linked Sequential Lodgement under the following conditions:

• the initiating Subscriber must be, or must be acting for, an incoming mortgagee or a mortgagee on title;
• the initiating Subscriber must be be a participant in the relevant Electronic Workspaces;
• the settlements must not already be linked for a Simultaneous Lodgement, Sequential Settlement or Simultaneous Settlement;
• Financial Settlement can only be executed for a Trailing Electronic Workspace if the Lodgement and Financial Settlement in the Preceding Electronic Workspace have been completed successfully; and

Sequential Lodgements must have at least an hour between the preceding and Trailing Electronic Workspaces on the same date of settlement.
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2.18.2 Simultaneous Lodgement

PEXA will only facilitate linked Simultaneous Lodgements under the following conditions:

• the initiating Subscriber must be, or must be acting for, an incoming mortgagee or a mortgagee on title;
• the initiating Subscriber must be a participant in both Electronic Workspaces;
• the settlement in both Electronic Workspaces must be scheduled for the same settlement date and time;
• the settlement in both Electronic Workspaces must be a Financial Settlement; and
• the settlements must not already be linked for a Sequential Lodgement, Sequential Settlement or Simultaneous Settlement.

After Locking the Electronic Workspaces simultaneously, PEXA will Lodge and settle the Electronic Workspaces independently.

As advised in Titles Registry Alert 127, revised Queensland Titles Registry fees take effect as from 1 July 2016.

The Titles Registry online fee calculator will be updated on 1 July 2016 to reflect the revised fees that commence on that date.

Please note that up to and including 30 June 2016 the calculator will continue to function using the existing 2015-2016 fees.