Conveyancing distributor conveybuddy has released its Q4 2025 statistics, showing a shift in activity driven by pre-Budget uncertainty followed by emerging post-Budget demand, alongside a quarter-on-quarter rise in remortgage instructions and increased adviser use of its platform.
During the quarter, remortgage instructions accounted for 41% of all cases, with transactional instructions making up the remaining 59%. This represented a four percentage point swing towards remortgaging compared with Q3.
Transactional instructions were down 6% quarter-on-quarter, while remortgage instructions rose by 7%.
Conveybuddy said the fall in transactional activity reflected a combination of the usual seasonal slowdown in property sales and a more pronounced pause in the market ahead of the Autumn Budget. Many buyers and movers delayed decisions while waiting for clarity on tax and housing policy.
Despite overall instruction volumes remaining broadly flat compared with Q3, adviser engagement on the conveybuddy platform continued to increase.
Three-month active adviser users rose by 10% quarter-on-quarter, despite fewer trading days across the period, suggesting sustained broker activity even while some clients held back.
The distributor said that once the Budget had passed and uncertainty eased, signs of pent-up demand began to emerge in December and continued into January.
REMORTGAGE RESILIENCE SHAPES ADVISER CHOICES
Remortgage activity continued to influence the conveyancing products advisers recommended. Conveybuddy’s all-inclusive remortgage proposition, available across multiple fee tiers, remained concentrated at the lower end of the pricing spectrum.
In Q4, 49% of all all-inclusive remortgage cases were priced below £300 to the client.
In 59% of all all-inclusive cases, brokers chose to include the Telegraphic Transfer (TT) fee within the headline price, accepting a lower referral fee. Conveybuddy said this typically left clients better off than under lender free legal arrangements, where TT fees and other charges are often added separately.
SHIFT IN LEADING REMORTGAGE LENDERS
The Q4 data also showed a change in the leading remortgage lenders where an all-inclusive conveyancing product was recommended. Nationwide and NatWest led during the quarter, replacing Santander and Barclays, which had been the leading lenders earlier in the year.
Conveybuddy said the change was likely driven by movements in remortgage pricing and cashback levels.
Harpal Singh, chief executive at conveybuddy, said: “Q4 was a sector dominated by the lead-up to the Budget with many potential market participants, understandably, adopting a wait and see approach. This was particularly prevalent in the transaction and purchase space and that is clearly reflected in our Q4 statistics.
“That caution fed through into lower transactional volumes, but adviser activity on our platform remained strong. Brokers were still working cases, preparing clients, and positioning themselves to act once there was clarity.
“Once the Budget passed and the noise died down, we began to see pent-up demand coming through in December, and that momentum has continued into January.
“The data also continues to show advisers recommending paid, all-inclusive options, often using mortgage product cashback to cover legal costs and removing additional fees such as TT charges for clients.
“Changes in the leading remortgage lenders are likely to reflect pricing and product shifts, and given the start to 2026, we might see further changes in Q1 as lenders are competing aggressively on price particularly in the remortgage space.
“Brokers will always follow value for their clients, and our role is to make sure the conveyancing process is transparent, fair and predictable when they do.”
