Conveybuddy reports rise in remortgage activity as broker numbers hit record level

Conveyancing distributor conveybuddy has reported a marked increase in remortgage activity during the second quarter of 2025, alongside a surge in broker registrations on its platform.

The firm said remortgage instructions accounted for 38% of cases between April and June, up from 36% in the first quarter, while purchase business slipped from 64% to 62%.

With hundreds of thousands of mortgages due to mature in the latter half of the year, conveybuddy expects the remortgage share to remain strong.

The company’s all-inclusive remortgage product, which offers multiple fee tiers, also saw significant uptake. The £249 option accounted for 32% of cases, the £299 tier for 24.5%, and the £499 level for 19%. Together, these accounted for almost three-quarters of all-inclusive remortgage instructions, reflecting what the firm described as strong preference among brokers and borrowers for mid-range fees.

USER NUMBERS

Broker adoption of the platform rose sharply, with registered users up 40% on the previous quarter to more than 2,500. July set a record for new registrations and the second week of August was the busiest week since the firm launched in 2024.

Harpal Singh, chief executive at conveybuddy, said: “Our Q2 figures underline what we are hearing from the market in that remortgage activity is strong and the sheer number of mortgages coming up for maturity through the rest of 2025 is likely to ensure this trend remains.

“It is very positive to see our broker users recognising the value of their remortgage clients having separate legal representation and our all-inclusive remortgage product is incredibly popular with many clients taking advantage of cashback availability in order to fund this.

“Mid-range fee levels on the all-inclusive remortgage product remain the most popular, providing a cost-effective conveyancing service to clients, and our increase in broker users and registration suggests there is a real demand for fee transparency and an excellent service from our panel of law firms.

“We have built some real momentum through the first two quarters of the year, and if our July/August figures are anything to go by, this is only going to continue in the future.”