"Our Q3 figures reflect what we’re seeing from the market: activity is still good, although we’re aware many feel activity levels have been subdued as a result of speculation around what might be announced in next month’s Budget"
- Harpal Singh - conveybuddy
Conveyancing distributor, conveybuddy, has released its Q3 2025 statistics, showing broad growth in instructions, a stable purchase-to-remortgage mix, continued broker preference for all-inclusive remortgage options, and a shift in the leading remortgage lenders compared with Q2.
Remortgage instructions accounted for 37% of all cases in Q3, slightly down from 38% in Q2, while purchase instructions were 63% in Q3 compared with 62% in Q2. Quarter-on-quarter, purchase instructions rose 27% and remortgage instructions increased by 26%. With a significant number of mortgages maturing in the second half of 2025, conveybuddy expects this balance to remain similar into Q4.
The distributor highlighted that the strength of the remortgage market is influencing the conveyancing products brokers recommend.
Conveybuddy’s all-inclusive remortgage product, available across multiple fee tiers, was chosen mainly in three bands: the £249 option accounted for 31% of all-inclusive cases; £299 for 22%; and £349 for 16%. Together, these tiers represented nearly 70% of all-inclusive remortgage cases, showing a strong preference for lower-priced options.
During Q3, 53% of all-inclusive cases were priced below £300 for clients. In 61% of these cases, the Telegraphic Transfer (TT) fee was included in the headline price, typically leaving clients better off than lenders’ ‘free legal’ options, where TT fees and other charges are added on separately.
Broker activity on the conveybuddy platform also increased. Three-month active adviser users grew 23% quarter-on-quarter, while the total number of registered brokers now approaches 3,000. July set a record for new registrations, and September marked a new high for three-month active users.
A new addition to the Q3 statistics is a review of the top three lenders where brokers recommended an all-inclusive remortgage product. Santander led with 19%, followed by Barclays at 18% and Nationwide at 14%, with other lenders making up 27%. This contrasts with Q2, when Nationwide topped the table. With cashback levels consistent across these lenders, conveybuddy suggested the shift was likely due to changes in remortgage product pricing during the quarter.
Harpal Singh (pictured), CEO at conveybuddy, said: “Our Q3 figures reflect what we’re seeing from the market: activity is still good, although we’re aware many feel activity levels have been subdued as a result of speculation around what might be announced in next month’s Budget."
“Unsurprisingly, many are adopting a wait-and-see attitude. While we saw excellent growth in September, it was slightly below our initial expectations, probably due to the Government’s ill-conceived stamp duty policy kite-flying in August."
He added, “At the same time, it’s clear brokers remain focused on doing the right thing for remortgage clients. We continue to see strong demand for separate legal representation rather than ‘free legals’, with many clients using cashback to fund our all-inclusive remortgage option that removes unwanted surprises like TT and other charges. ‘Free legals’ remains the biggest misnomer in the market."
“Lower-range fee levels on our all-inclusive remortgage remain the most popular because they deliver a straightforward, cost-effective service with no hidden fee surprises for the client."
“The rise in active adviser users and steady new registrations point to continued demand for price transparency and reliable service from our panel firms. We’ve built solid momentum through Q3, and based on the maturities pipeline, we expect this to carry on into Q4.”
