About Caz_at_Astills

Can we please have a notification sent when we have signed off on a workspace and then another party changes something that requires us to re-sign ( prior to workspace being in Ready Ready status). As a discharging bank is our practice to sign off all workspaces in the morning so they are ready for settlement from our end. Numerous times over the past few weeks we have had go back and re-sign the workspaces for one reason or another but we are not notified we have to do this. As the outgoing mortgagee nothing on our side of the transaction changes so we shouldn't have to re-sign at all but we should at least be notified if a workspace we have previously signed needs to be signed again. Can you please look into this issue? Thank you ... View more

Is there any update on when we will be able to use PEXA for ACT transactions?  Thank you ... View more

I act for a mortgagee and do quite a lot of discharges where our client is being refinanced. The incoming bank will send the PEXA invite with a settlement date nominated but still "pending" from their side as below: My issue is that if I don't accept that settlement date and the date is subsequently accepted by the incoming mortgagee, I don't receive any notification. This creates issues as I have to keep going back into the workspaces to see if settlement has been accepted by the incoming so I can book settlement and order the payout with my client (obviously this is not productive). Alternatively I have to accept the settlement date and order the payout only to have the incoming advise they're not ready (usually once payouts have been provided) and push settlement back (again not productive).  Is there anyway that notifications can be tailored to individual needs so that I can receive notification once any party accepts the settlement date instead of just all parties as it is now?  ... View more

I know this has been raised previously but is there any progress on allowing a redacted version of the loan account number to be shown to the other parties when the bank loads their payout figure (eg. showing the last 4 digits). I do a lot of discharges and am constantly having to provide these details to the incoming bank so they can confirm they are paying out the correct loan. Being able to see the account number once the payout is loaded would save a lot of time and provide clarity to all parties as to the debt being repaid. Thank you.  ... View more

Hi all   How long does it usually take for registration confirmation in SA for PEXA transactions? I had 3 refinances settle on Tuesday (acting for incoming bank) and all 3 are still showing docs as lodged but unregistered.    Thanks in advance. ... View more

Acting for a FI I often have linked workspaces for purchase and refi components of my loan. It would be great if you could if there was a hyperlink that could take you directly to the linked workspace eg clicking on the workspace ID would open the linked workspace rather than having to go back to dashboard. Thanks      ... View more

Coming back into the legal game after over 4 years in the valuation industry I had no idea what PEXA would be like to work with.   I returned to my paralegal roots with a Banking and Finance role at Astills Lawyers where we act for several lenders in all states around Australia. Our conveyancers also assist clients with property transfers in Qld, NSW, VIC and SA. As we only have the one office located on the Gold Coast, PEXA is an invaluable tool for us in achieving fast and efficient settlement outcomes for all our clients no matter where their property is located.   PEXA has provided us with fantastic one on one training, encouragement and support through our PEXA Direct specialist, Morvanna Jones.   From my perspective, some of the main advantages in using PEXA are:   Direct support from our PEXA direct specialist, Morvanna; Ability to create workspaces for all States; Efficiency in providing loan funds for settlement (ie. no longer needing to order bank cheques); Ability to link lodgements for borrowers who are purchasing and refinancing allowing simultaneous settlements with the click of a button!; Automatic rollover of settlement time when workspace is not ready (no more trying to organise 3-4 parties to change the settlement time at short notice 😊); Title activity reports providing up to date details of title activity without the added expense to clients for title searches; Short transfer times of clear funds to all parties in the workspace upon settlement (no more waiting for bank cheques to clear); Expedited registration of documents and receipt of registration confirmation statements allowing is to confirm security of our clients’ loans almost immediately; Creation of documents within the system which reduces the chance of errors and requisitions.   ... View more

Question: We are panel lawyers for several banks and will be transferring control of the CT to the bank following the next PEXA release. Will we still receive the Registration Confirmation Statement if we do not control the CT?  ... View more

We act for several private lenders who have 28-30 page mortgage memorandums which we normally attach to the mortgage and lodge as one document ie. a 30 page mortgage. We act in all States. Whilst you can upload a copy of the memorandum for future reference to files, we are unable to load these to be annexed to the mortgage document for lodgement as we would in paper. What is the electronic work around for this?  ... View more