on 30-05-2017 08:56 AM
The past few months have seen an acceleration from Western Australian lenders as upcoming transformation dates approach - preparing for 100% digital transactions.
The WA market will be the first state in Australia to move all eligible transactions online at the end of this year. As a result, lenders operating in Western Australia’s property market have boosted their engagement with PEXA. What a momentous achievement for the entire industry!
Many WA lenders are completing high volumes of transfer transactions each week. The rest are heading in the same direction and adapting their processes to meet upcoming compliance deadlines – in particular, 1 August which is just around the corner.
Bankwest’s Executive Manager Digital Operations Strategy, David Morrissey recently spoke to PEXA about their progress towards total online transactions, saying:
“Our goal is to transact online whenever possible with the lawyers and conveyancers who have made the switch online to bring property consumers a seamless digital experience through the PEXA platform.”
With 4,074 practitioners now engaged with PEXA and 383 representing clients in Western Australia, it won’t be long before David’s goal will be matched with increased volume.
To find a financial institution and the corresponding transactions you can perform with them or their representative, use the PEXA Qualifer Tool.
I look forward to what the next few months will have to offer!
If you have any questions, please don’t hesitate to ask me in the comments section below.
Until next time,
Tracy Longo, General Manager Operations
on 30-05-2017 04:47 PM
Great to see all the banks working towards the milestones that we have ahead of us in WA. This will also assist with the readiness for the transfer timelines later this year!