March has provided a very clear example of how quickly this market can move when lenders feel the need to take action, with widespread product withdrawals and rate changes triggering a sharp increase in broker activity as they worked to secure deals before rates were pulled or repriced.
Undoubtedly, from our experience, that urgency also flowed directly into conveyancing instruction levels. Our data showed a 26% week-on-week increase in conveyancing instructions, driven largely by remortgage cases which rose by 32%, alongside a 21% uplift in purchase activity, highlighting not only the scale of the response but also how quickly advisers had to move to ensure the legal process kept pace with mortgage applications.
However, what matters more than the spike itself is understanding what sits behind it, because this was not new demand entering the market, but existing business being accelerated, effectively bringing forward work that might otherwise have been spread over several weeks.
That distinction is important, because it tells us just as much about what may happen next as it does about what has already happened.
THE LIKELIHOOD OF A QUIETER PERIOD
When you compress activity into a shorter timeframe, there is usually a consequence, and that is a potential slowdown in the weeks that follow, not because the market has worsened further, but because a portion of the pipeline has already been processed earlier than expected.
We have seen this pattern before in response to rate changes and policy shifts, where a surge is followed by a more subdued period as the market resets, and there is every chance we will see something similar play out here.
For advisers and firms, that requires a degree of planning ahead, not just operationally but commercially, because if volumes soften, then the focus needs to shift from chasing new business to maximising the value of the cases already in progress.
WHY CONVEYANCING CAPACITY IS UNDER REAL STRAIN
At the same time, the pressure on conveyancing firms during these periods should not be underestimated, because unlike other parts of the process, capacity cannot simply be scaled up overnight, and when instruction volumes spike, it can quickly expose some firms’ limitations in resource, systems, and service delivery.
What we tend to see in these situations is a mixed response, with some firms temporarily closing to new business, others increasing fees to manage demand, and some simply struggling to maintain service levels, which ultimately impacts the client experience.
That creates a real challenge for brokers, because once a client has secured a mortgage rate, the expectation is that the transaction will move forward smoothly, and any delay on the legal side can undermine that progress.
This is where panel stability and visibility become critical, because advisers need to know which firms have the capacity, the capability, and the systems in place to take on new work and deliver within the required timescales.
TAKING CONTROL OF THE CLIENT JOURNEY
One of the biggest risks in a market like this is leaving too much to chance, particularly when it comes to conveyancing, because if a client is left to find their own solicitor or defaults to a family recommendation, there is very little control over the quality of service, the speed of the process, or even the total cost.
That is not a position any adviser wants to be in, especially when they have worked hard to secure the right mortgage outcome, only to see the wider transaction held up by factors outside their influence.
By taking ownership of the conveyancing recommendation, advisers can place clients with firms that are known to have the right capacity, the right expertise, and the right infrastructure to deliver, giving everyone involved the best possible chance of completing within the desired timeframe.
MAKING THE MOST OF THE OPPORTUNITY IN FRONT OF YOU
If we do see a dip in activity following this recent surge, then the importance of each individual case becomes even greater, because those clients already in the pipeline represent the immediate opportunity for both service delivery and income generation.
The evidence from March suggests advisers are already recognising this when it comes to conveyancing, ensuring instructions are secured alongside mortgage applications rather than being left until later in the process, but there is also a wider point here around taking a more holistic approach.
Every client interaction should be seen as a chance to review all relevant needs, whether that is protection, insurance, or other services such as conveyancing, because in a more subdued market, it is the breadth and depth of advice rather than the volume of cases that will drive sustainable outcomes.
BUILDING RESILIENCE IN A CHANGING MARKET
Ultimately, periods of volatility are becoming a more regular feature of this market, and while they create short-term spikes in activity, they also test the resilience of the wider process, particularly in areas like conveyancing where capacity and service consistency are so important.
For advisers, the key is not just reacting to the immediate opportunity, but ensuring the processes, partners, and propositions they rely on are robust enough to handle both the peaks and the quieter periods that follow.
Because while this month has showed how quickly activity can increase, it also serves as a reminder that what comes next may require a different approach, one that focuses less on volume and more on controlling outcomes, protecting clients, and making the most of every opportunity already in front of you.
