Property law firm, Amity Law, which specialises in residential conveyancing, has completed its first purchase transaction using PEXA. The completion marks a key milestone in the adoption of a digital completions process in the UK real estate market.
The transaction provided Amity with a chance to experience a live completion environment using PEXA’s FCA-regulated digital completions infrastructure.
The case completed following a controlled onboarding and training process that enabled the team to progress through the transaction stages, and edging towards completion, exchanging funds and digitally submitting the title application with HM Land Registry, all using the PEXA platform.
Amity acted on the purchase of a property, and the transaction was a cash purchase which enabled greater certainty and structure to completion day.
“At the beginning, it is fair to say we all wanted change but still felt some apprehension about what that would mean in practice. Operationally, we knew the process via PEXA would work, but it still felt like a significant change.
“Once we were in the workspace and could see things in action, that apprehension disappeared. The process was easy to navigate and showed us what digital completions can mean in practice.”
Sarah Ryan, Head of Legal Practice and Finance and Administration, Amity Law
Jenny Randell at Amity Law, who handled the case, explained the experience as a turning point in being able to provide a more certain experience for clients.
“It was awesome. The idea of being able to have completions done and dusted before you have even logged on in the morning is genuinely mind-blowing. It completely changes what completion day can feel like for conveyancers and clients.”
Jenny Randell, Senior Licensed Conveyancer, Amity Law
Amity Law is set to continue working with PEXA as it identifies further suitable cases and shares its experience with other law firms, introducers and industry stakeholders.
More law firms are expected to begin exploring digital completions, and PEXA and Amity Law are keen to work with like-minded law firms who want to understand the process, support greater certainty in chains and help shape how digital completions operate in practice.
“This is a brilliant milestone for Amity Law and another positive step for the adoption of digital completions in the UK.
“Amity’s experience shows that while change can understandably feel significant at the outset, the right infrastructure, onboarding and support can give firms greater confidence and control at completion.
“Digital completion is not about replacing the expertise of conveyancers. It is about giving firms better tools to support their clients at one of the most important points in the transaction.”
Joe Pepper, UK CEO, PEXA
