PEXA Secures FCA Approval As It Prepares For Major UK Expansion

PEXA has reached a key moment in its UK journey after the Financial Conduct Authority gave the company the green light to become an Authorised Payment Institution. This approval will now allow the platform to expand into handling Sale & Purchase property deals alongside its existing remortgage services.

With this update, PEXA is now ready to play a bigger role in the UK property market. By the time its new service launches later this year, the platform expects to support nearly 70% of all property transactions in England and Wales. Plans are already in place to grow this number even more.

The FCA authorization also means PEXA can act as a Third-Party Managed Account (TPMA) provider for UK legal firms. This step lets PEXA hold and move funds securely during property sales, something very important in complex real estate deals.

PEXA Builds A Strong Foundation For UK Property Innovation

This progress follows years of work and major investment by PEXA in developing its UK solution. The company has built a tailored system to suit the local market, including the creation of “PEXA Pay,” a special payment scheme that works through the Bank of England.

PEXA Pay now becomes the seventh net settlement payment method approved to clear through the central bank. It is designed to make property transactions smoother, faster, and more reliable, offering a digital solution that meets UK banking and legal standards.

Since PEXA first arrived in the UK with its remortgage service two years ago, the platform has already handled more than £100 million in transactions. That early success set the stage for the much-anticipated launch of the new Sale & Purchase feature later this year.

PEXA Looks To Strengthen Partnerships Across The Industry

This new development allows PEXA to work even closer with firms across the housing and legal sectors. The company plans to keep growing its partnerships as it brings more of its trusted services into the UK market.

PEXA believes that this milestone brings them one step closer to building the digital backbone for property sales in the UK. With strong tech, secure systems, and industry support, the company is preparing to help modernize property deals for years to come.

Joe Pepper, who leads PEXA in the UK, reflected on the approval, explaining that trust and care have been at the center of PEXA’s approach. He noted that improving the property market takes time and that every new tool must be built to last and scale properly.

According to him, getting FCA approval shows how strong and secure PEXA’s systems truly are. The news is also expected to boost confidence among PEXA’s growing network of UK partners, who rely on the platform’s high standards of safety and compliance.

Looking ahead, PEXA is focused on long-term goals in the UK. It aims to support the full digital transformation of property transactions by offering modern tools that work well with both lenders and conveyancers.