1 August 2017 is the banking industry deadline for paperless refinancing. It marks the first compliance date for how refinance transactions must now be lodged with land registries in NSW and Victoria. Western Australia follows suit in December.

From 1 August 2017, refinance transactions in Victoria, where the transacting parties to discharges of mortgage and mortgages are authorised deposit-taking institutions (ADIs) under the Banking Act 1959 (Cth), are to be lodged electronically (both retail and commercial mortgages).

In NSW, where both mortgagee(s) in a refinance transaction are ADIs, any combination of mortgages and discharges of mortgage signed on or after 1 August 2017 must be lodged electronically, except where the mortgages and discharges of mortgage are to be lodged with any other dealing, affecting the same folio(s) of the Register.

Objections to mandated use of PEXA

In February of this year, The Australian Institute of Conveyancers, Western Australia (AICWA) stated:

“Mandating will help PEXA to become profitable if Landgate and the land registries in other states mandate the use of electronic conveyancing. In the absence of a competitor, this puts the state governments in bed with the banks and private industry to effectively create a government-sanctioned monopoly for PEXA.”


“In 2014 WA Lands Minister Terry Redman told Parliament that use of electronic conveyancing platforms, including PEXA would not be mandated and the industry would be able to transition to using electronic conveyancing at “its own pace”. We call on the WA Government to honour this commitment.”

In March 2017, AICWA concluded: 

“The AICWA supports electronic conveyancing however is unequivocally opposed to mandating”.  

A PEXA user in Western Australia reports on the benefits:


Copyright 2017 Legal Practice Intelligence