PEXA (ASX:PXA) Shares Surge 14% on NatWest UK Partnership Milestone

Sonal Goyal

24 July 2025 12:18 PM AEST

PEXA (ASX:PXA) Shares Surge 14% on NatWest UK Partnership Milestone

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Highlights

PEXA shares surged over 14% to AUD 14.77 following UK expansion update

Formal implementation program agreed with NatWest for digital remortgage and property transactions

PEXA targets broader Sale & Purchase launch in England and Wales by end of CY25

PEXA Group Limited (ASX:PXA) saw its share price jump over 14% to AUD 14.77 on 24 July 2025, following the announcement of a major step forward in its UK expansion strategy. The company revealed that its UK subsidiary has formalised an implementation program with National Westminster Bank Plc (NatWest), a leading UK Tier 1 lender, to enable future digital remortgage and Sale & Purchase (S&P) transactions on the PEXA platform.

Formal Commitment with NatWest Drives Market Optimism

The implementation program between PEXA and NatWest represents a pivotal development in the group's UK ambitions. The arrangement marks the first formal commitment by a major UK bank to digitise property transactions through the PEXA platform.

The program will initially focus on enabling NatWest's digital remortgage transactions, expected to go live in the first half of calendar year 2026 (CY26). This will be followed by Sale & Purchase transactions at a later stage, pending successful completion of the industry-standard due diligence process and execution of final terms and conditions.

Strategic Expansion in the UK Property Market

PEXA’s broader Sale & Purchase solution is scheduled to launch to the wider UK market by the end of CY25, with the potential to support over 70% of property transaction types in England and Wales. The development is expected to significantly modernise the UK’s home buying and remortgaging process, building on PEXA’s proven success in Australia.

Russell Cohen, CEO and Group Managing Director of PEXA, expressed confidence in the milestone, stating:

“We are delighted to formally advance our partnership with NatWest, the first Tier 1 Lender in the UK to commit to an implementation program with PEXA. We look forward to working with them to digitise the property transaction process to deliver an enhanced customer experience.”

He further acknowledged the contribution of the PEXA UK team and highlighted the significance of bringing PEXA’s model of secure, fast, and efficient digital settlements to UK consumers.

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