Why is it that there have been numerous complaints about the banks on PEXA since PEXA began, yet there has been no improvement in their communication and participation in the workspace. I have a settlement today where NAB is incoming. The local banker advised that settlement was ready and we got a "ready to book" email. However, the PEXA team have advised they are not ready to settle and do not know when they will be. So far I have called the settlement line, the local branch and sent numerous conversations with no outcome. This is simply not good enough. Not only have we lead clients to believe their matter will settle today, but we have wasted time drafting settlement calculations and letters to clients that will now need to be redrafted. We have also processed stamp duty which will now need to be cancelled and reissued. The lack of communication is disappointing and appalling. There are so many deadlines that conveyancers must meet for the banks, yet the banks do not meet any deadlines for the conveyancers. The banks create sooooo much extra work it's ridiculous. Something needs to be done about it.
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