Pexa Fees

[TA_TP]

The LTO (Victoria) have decreased their paper caveat fees to $46.30 as of 1 July 2016.  Pexa fees reamin at $52.65 (total) for lodging a caveat.  Does Pexa plan on reviewing their fees to make it more attractive for us to use, given this was one of the selling points?

[ChrisBodikian · Accepted solution]

Hi TA_TP, thanks for your question!

You are correct that the Victorian LTO has decreased its fee for paper caveats to $46.30 and the LTO + PEXA fee is slightly higher at $52.65 ($37.80 for electronic LTO fee + $14.85 for PEXA fee).  

PEXA reviews prices annually as per its pricing policy (please find the link to the pricing policy here) and has a national price consistent across all jurisdictions.

While the overall fee for an electronic caveat is higher in Victoria, it is important to note the advantages for conducting caveats electronically:

• Faster – it typically takes just 4 minutes to lodge a caveat through PEXA
• Safer – caveats are lodged in real-time, giving you greater certainty that your client’s claim is noted on title
• Easier – there is no need to attend the Land Registry office, book an agent or arrange for express post

Hopefully this provides a bit of context. If you would like any more information on this, please let me know.

Regards

Chris Bodikian