PXA +16.53%: Stormed higher after it signed a deal with the UK’s National Westminster Bank to facilitate mortgage transactions on its platform.
- PEXA received a formal commitment for an implementation program to facilitate future remortgage and sale & purchase transactions by NatWest.
- NatWest’s remortgage transactions are expected to go live in the first half of calendar year 2026, with Sale & Purchase transactions intended to follow.
- PEXA also plans to launch its broader sale & purchase solution to the wider market prior to the end of CY25
This is a huge step forward for PEXA and validates their UK expansion, and we can fully understand why the market has gotten excited today. The UK is a very complex market and they’ve taken longer than expected to reach this point. That in itself provides a strong barrier of entry for competitors, and this deal should lead to many others.
MM remains long & bullish PXA
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