Property exchange platform Pexa has launched an application programming interface (API) Hub to speed up integration and improve the UK’s conveyancing process.
The API Hub hosts all of Pexa’s APIs that have been developed for the UK market, to enable lenders and law firms in the UK to access them in one place.
Pexa said the launch of the hub was a “significant development”, as it was key to powering the delivery of 48-hour remortgages. This will also be the platform for Pexa’s plan to expand into the sale and purchase market early next year.
With the range of APIs that are currently available, the Pexa platform will enable manual processes that make up property transactions to be digitised, with data being passed between lender systems, law firm systems and the Pexa platform.
The APIs can be implemented to fit a certain organisation’s requirements around budget, risk and strategy, while allowing for the automation of some parts of the transaction process.
Pexa said this would allow firms to save time and resources, reduce fraud and operational overheads, and provide a faster conveyancing process.
Using the APIs, a remortgage can be managed from start to finish through the Pexa platform within 48 hours. This works with the API automating parts of the transaction process.
Customers will also be able to view the progress of a case, with real-time updates.
The API Hub can be used with no login required and the Pexa team will be available to provide users with support.
Pexa plans to expand the Hub in the future with user guides that will further simplify customer integration.
Pexa aiming to change the UK mortgage process
Joe Pepper, UK CEO of Pexa said: “We recognise that to bring about change in the mortgage process, it needs to be as simple and easy as possible for lenders and law firms to embrace automation. Doing that means making any tech integrations with existing infrastructure as seamless as possible, and that is exactly why we have invested heavily in this new API Hub. It demonstrates Pexa’s commitment and readiness to collaborate with our market peers and work to improve the property transaction journey.
“Our work to support lenders and conveyancers alike is driving progress in the market, and we are delighted to be offering an updated suite of tools ready for immediate use that can meet the diverse needs of our partners and customers.”
Since entering the UK market in 2022, Pexa has been scaling its presence, and in May, it teamed up with NatWest to offer borrowers a 48-hour remortgage.
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
