on 21-06-2021 02:09 PM
When will anything be done about these banks/settlement agents. Todays issues are First Legal yet again. They don't receive funds until 12.30pm, then they insist on waiting until everything is balanced to sign off the workspace. You can only insist on this if you are capable of checking workspaces and conversations quickly, and are accessible by phone. First Legal are clearly none of these things. So here i sit, my client has a removalist truck and is waiting to move in, settlement was 12.30pm and it has just gone past 2pm and First Legal still they haven't signed off. I've messaged 3 times, sat on hold for 17 minutes before i had to see a client so hung up. All this because they couldn't just sign off when they sourced the funds, for some unknown reason they believe it is their job to balance financials. First Legal, that is our job! All you have to do is prepare your mortgage, source the funds WE request and sign off! It's not difficult, yet for some reason you make it difficult for everyone involved. You are incapable of doing things like signing off quickly, so put a process in place that doesn't rely on you being quick, that really basic process is to just sign off when you source the funds!!
on 24-06-2021 01:51 PM
Hi @danielR , thank you for sharing this feedback. I’m one of First Legal’s account managers at PEXA and feedback like this is really helpful for us to understand how we might be able to help improve the overall settlement experience.
Panel lawyers operate in an often challenging environment due to the funding scenario you mention. Further compounding matters is the high volume environment the industry is experiencing post COVID, coupled with the usual additional high volumes of end of financial year.
I appreciate what an incredibly frustrating situation this is for you and ultimately our shared client who is waiting to access their new home. Improving the on time settlement experience is the number 1 priority for PEXA as a business and there is considerable work underway with the market to review the process end to end. Practitioners are represented at Member Advisory Council sessions in each state comprised of practitioners and industry bodies with attendance by major banks.
Stay tuned as we look to improve the experience in the coming months. In the meantime, I’ll share this feedback with First Legal and keep the feedback coming!
on 24-06-2021 04:36 PM
A brief update - please feel free to provide feedback to First Legal directly via the link below:
Feedback will be reviewed directly by the First Legal Quality Team.