As a long time PEXA user (and yes I love the platform) I am sick and tired of the banks treating the platform with contempt. Yet again, I have had a settlement roll over 90 minutes this morning due to the Mortgagee on Title not lodging their Nomination until 1 minute before the agreed time. Yes, settlement will still happen today, but what do I tell my client who has their life in a removal van - just wait another hour and a half and we can settle. Who pays for the delays? The extra removalists fees charged to our clients due to settlement not taking place at the allocated time. We are now seeing practitioners charging when settlements are delayed - and this is fair enough - the workspace should have been ready/ready and we could have all moved on to other things. Our clients will be the losing party with this practice as it can be guaranteed that the banks won't pay the extra expenses incurred purely due to their tardiness. Something has to change, and quickly!
... View more
