Hinckley & Rugby partners with global fintech firm

Colin Fyfe

Hinckley & Rugby Building Society has announced a new partnership with an Australian company which helps people navigate the challenges of remortgaging a property.

The building society is joining forces with PEXA as the Melbourne-based exchange network gears up to enter the UK market.

It will be one of the first UK lenders to collaborate with PEXA, which is known for introducing the world’s first fully digitised property settlement process.

Hinckley & Rugby has already offered the company support with the design and testing of its platform ahead of its inaugural UK transaction, which is due to take place in September.

Colin Fyfe, chief executive at Hinckley & Rugby, said: “The work carried out by our teams, in partnership with PEXA, is a testament to the expertise and experience of my colleagues at the Society. Our involvement in assisting PEXA to bring greater innovation, benefitting both our direct mortgage customers and those served by intermediaries, is further demonstration of our commitment to bringing fintechs to the market. We are especially proud of our role in undertaking the first transaction in the UK.”

PEXA UK’s chief executive James Bawa added: “We are thrilled to have Hinckley & Rugby Building Society undertake our first transaction as our initial reference site. We are incredibly appreciative of their consistent support of a platform we believe will help transform the sector, reducing the time and stress of remortgaging for customers.”