About MatthewGillet

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Hello @Crystalcon   The marketplace will go live tomorrow (6 Dec 2018) and look out for some emails and videos on how to get started.   Otherwise you can contact us here on the community. Looking forward to welcoming you!   Matt   @KrystleKocik  ... View more

Hi @JessicaW   You are correct that all standalone transfers in VIC must be lodged online from 1 March 2018. The most common example of this is a cash purchase with an unencumbered title.   With regard to your question regarding restrictive covenants, that depends if you view a transfer with a restrictive covenant a stand-alone lodgement.   PEXA supports lodgement of transfers that reference the covenant registered as a Memorandum of Common Provision in the transfer form but doesn’t have the T2 paper form per se.   My best suggestion is to contact Land Use Victoria should you wish to lodge a Standalone T2 in paper between now and 1 July 2018. As they will need to assess if it fits in with the “stand-alone”   However from 1 July 2018, the paper T2 form will be discontinued which definitely means that from that point it fits clearly within the Registrars Requirements   Matt ... View more

Hello @MorganConveyancing   Thanks for the question, it is a very good one.   This is a carve out in the Registrar's Requirements for discharge of mortgages, mortgages and refinances . In essence, during this phase, the mandated extended to select organisations being Authorised Deposit-taking Institutions (ADSs) and legal/conveyancing practices that represent ADIs. A couple of examples are as follows:   Example 1 - A bank that does its own mortgage processing in house such as ANZ Bank Example 2 - A mortgage processing specialise business such as Dentons, Galilee, MSA and FMS   This mandate excluded private mortgagees and mortgages held by non-ADIs. A example of a non-ADI is Aussie Home Loans   Thus to your question, if the bank is doing their own mortgage processing or outsources their processing to a conveyancing or legal firm than they must lodge them digitally.    I hope that clears up your query. Please reach out if you have any further questions   Regards, Matt  ... View more

Hello.   I am glad to report that this matter is now resolved. You are able to settle files in QLD over the holiday period.    Over the holiday period, the QLD land registry will be unavailable for lodgement of property instruments in both paper and digital for the following period.   Closed from 4pm Friday 22nd December and reopening on Tuesday 2nd January.   However, in order to support your business and customers over this period, PEXA will be open for settlements during this time.   What does this mean?   During the QLD closure period, the PEXA platform will be available to book settlements and take a workspace all the way through to ready-ready. What this means is that settlement will occur on the set date and time and the registry documents will sit in a queue and be lodged when the registry is open for business in the new year. PEXA will be utilising the lodgement override functionality to achieve this. This process mimics the current approach to paper during such times.   Are there any operational impacts?   There are two operational impacts during this period.   The aforementioned settlement process where the workspace will settle and the documents will lodge at a later date QLD workspaces settling during the closure period, the Lodgement Instructions must be signed by all parties. For example: The Incoming Mortgagee and the Mortgagee on Title for a refinance; and All parties for a transfer (NOTE – were a not expecting any transfers to be booked during this time)   What to do next?   The PEXA workspace is now available for booking settlements during the closure period and we encourage you to set these workspaces up ASAP to ensure the industry is ready to settle.   We are supporting you during this time   Over the break, the Support Centre will be open as per usual hours. If you need to get in touch please call 1300 084 515   Please note -  Standalone transactions – discharge (debt repay), single party mortgage, caveats and settlement/priority notices are not available for lodgement. They can be prepared but not submitted until the LTO is live in 2018.     ... View more

Hi Michelle,   Thank you for getting in touch and your continued great work in driving digital transaction in SA.   To your question, there are industry agreed guidelines for loan payout figures. They are:   Indicative figure 2 days prior to settlement; and Final figure confirmed 10 a.m. the day of settlement. The full list can be found here: https://community.pexa.com.au/t5/Help-Centre/Transfer-Guidelines/ba-p/66   We continue to work with industry to meet and exceed the guidelines to ensure the digital experience can be the best as possible for all members.    With this one in question it is certainly an anomaly with ANZ consistently exceeding 90% for the guidelines but we will pass the feedback on. We appreciate it.   Matt ... View more

Hello. Welcome to the community and thanks for getting in touch.   ASPs are new functionality and I would suggest that the bank may have misunderstood the context. As they have title control they will need to lodge a nomination to make the title available for the ASP. On the whole, nominations are generally processed in a timely manner for settlement and other docs. 3 weeks certainly seems to be out of character.   I will raise this with industry to ensure a better member experience. @AndrewT @Kate_Camilleri ... View more

Excellent to see an immediate take up. This is certainly a unique component of SA and great to see further digitisation at the home of the mighty Torrens System ... View more

Hello @StaceyP   Particular to NSW, the following will apply:   On 1 July 2018 - A standalone transfer that has no mortgage or discharge attached must be lodged electronically Common Example - A house that is clear title and purchased in cash On 1 July 2019 - Any discharge, transfer or mortgage (or combination thereof) must be lodged electronically Common Example - a standard DTM. A house sale where there is an existing mortgage on title that is discharged and replaced with a new mortgage by the financier of the buyer. Matt   ... View more

Morning @StaceyP   Apologies if this is doubling up on the reply but for certainty I can offer the following:   1. a "standalone transfer" refers to a transaction where there is only the Transfer of Land document lodged. In simple terms, the most common form is a cash transfer where a buyer is paying cash and there is no existing mortgage on title (clear title)    2. In NSW, these dates form part of the Registrar's Conveyancing Rules and providing there is no amendment to these, the dates are fixed.   I hope that helps.   Matt ... View more

Hi All   Ubank are an active member of the exchange and partner with legal panel providers, namely MSA and Galilee.   When unsure, the best place to look is the pexa qualifier which will guide you through. It's attached below   https://www.pexa.com.au/qualifier-tool   If you you need a hand please get in touch       ... View more

I agree and this is exactly the feedback we love. As we are now seeing further push towards digital in the transfer space, the next wave in industry transformation looks set to focus on this very matter.   stay in touch in the community as we will keep you on the loop regarding industry initiatives to improve the digital transfer process. ... View more

This is great news. Santina and Raf welcomed the team in to their office for the first time way back in Feb 2012! Santina and the team have been huge change advocates for their local community and also conveyancers Aus wide. Well done  ... View more

Thank you @EmilyBilling   @Sudhakar1 and @Uday this article contains the updated content for the most recent linked lodgements upgrade @Marcello  ... View more

Afternoon @DMc   In addition to BankWest, below is the list of PEXA ready Trust Accounts:   ANZ Bank of Melbourne BankSA Bendigo and Adelaide Bank Commonwealth Bank Macquarie Bank National Australia Bank St. George Westpac Thanks for getting in touch.   Matt ... View more

Howdi!   My name is Matt and my focus is working with financial institutions on meeting their compliance deadlines.   2017 is a massive year for eConveyancing. Some things to look forward to in the coming months are:   100% lodgement of single discharges and mortgages in NSW - March 2017 100% lodgement of refinances in VIC, NSW and WA - Aug 2017 100% lodgement of WA transfers - Dec 2017   Ask me anything ... I look forward to your questions.   Matt ... View more

Hi @apc @SusanH here is the article on linked lodgement stepped out with real life examples and how to transact through PEXA ... View more

Hi Helen,   Apologies, I missed the context. In the this scenario, the party with CT Control will need to do the following:   Create a workspace in the role of CT Controller Complete the nomination document with the following: Nominate the document to a paper instrument Retain control of the CT Select "Other Document" in the drop down Enter the appropriate details. I have put together a screen shot to assist.   ... View more

Hello Helen,   Thanks for the query. In PEXA, we don't capture the name prefix (Mr, Mrs etc) and Land Use Victoria do not record this in the register.    In the VIC context, should a customer change their name you are able to do the following:   * In PEXA - include a justification  * In Paper - include the reason in the recital panel   Happy to talk further.   Matt ... View more

Thanks for your question @Pilar. Yes, bulk conversion will take place this weekend meaning that all titles where a major bank has a mortgage will be converted from paper  (pCT) to electronic (eCT). A handy publication came from Land Vic last night and I encourage you to have a read:   http://www.dtpli.vic.gov.au/property-and-land-titles/land-titles/customer-information-bulletins   To your specific questions:   Who is required to complete the nomination? Is it the eCT control, incoming mortgagee or the purchaser's representative? If it's the purchaser's representative, do we complete this via PEXA or paper form? The nomination is always completed by the party that has the control. As the October reform concerns only the Major Banks, the nomination will be completed by the Major (or their representative should control be transferred to them). The most common scenario is as follows:   Consumer A has sold their property. The property has a Major Bank X mortgage on it that needs to be discharged. Major Bank X lodges a nomination and then completes the discharge.  Generally, a purchaser's representative would only have control where the title is unencumbered, in eCT format and assigned to them which is not part of the October reform.   2. I have a settlement before 22 October and there is no incoming mortgagee. I'm assuming at settlement I will be handed over a pCT and paper discharge of mortgage. Will the LTO still accept the paper discharge of mortgage? In the LTO's recent bulletin, it was advised that a paper discharge of mortgage signed after 1 August 2016 will not be accepted unless lodged electronically by the mortgagee. If they will accept it, do I need to lodge it before 22 October?   Yes they will as this is a transaction that involves a transfer of land. The 1 August reform deals with stand-alone transactions not tied to a settlement or other instruments. For example, when a consumer pays of their loan and wants to discharge the mortgage. The bank is now required to lodge the discharge electronically.   Please keep the questions coming. This is important in order build your property community. I also encourage you to reach out to your PEXA Direct Specialist as we are keen to help you work through all your questions and build your digital expertise. @HeatherC @PaulMajor ... View more

Another exciting element of this milestone was not only to celebrate VIC exceeding 1000 Subscribers but to see the phone continually  buzz as 18 subscribers (practitioners and banks) were able to transact outside of business hours over the weekend   That's the power of digital! Try doing that in paper. ... View more

Great work @Action keep them coming! ... View more

No worries Margie. I will get in touch and let's get something started ... View more

Hi Margie,   Thanks for getting in touch. There are a number of government PEXA Members. A common start point in PEXA is getting used to lodging caveats, then working out how transferring land would best work within your department.   If you wish, we could provide an introduction to an active Subscriber who I am sure would be willing to share knowledge.   Matt       ... View more