According to the firm’s Q4 2025 statistics, remortgage instructions over the period accounted for 41% of all cases, with transactional instructions making up the remaining 59%.

This represented a 4% swing towards remortgage activity compared to Q3, the firm said. Quarter-on-quarter, transactional instructions were down 6%, while remortgage instructions increased by 7%.

In its report, conveybuddy said the transactional dip was a result of the usual seasonal slowdown in property sales, but also hesitation caused by the last Budget.

Many buyers and movers, it said, were delaying decisions while waiting for clarity on tax and housing policy.

“Q4 was a sector dominated by the lead-up to the Budget with many potential market participants, understandably, adopting a wait and see approach,” said Harpal Singh, CEO at conveybuddy.

“This was particularly prevalent in the transaction/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.

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“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.”

Despite overall instructions being fairly flat against Q3, adviser engagement on the conveybuddy platform continued to rise. Three-month active adviser users increased by 10% compared with Q3, despite less trading days across the three-month period.

Fourth quarter data also showed a change in the top remortgage lenders where an all-inclusive conveyancing product was recommended.

During the quarter, Nationwide and NatWest were the leading lenders, compared with Santander and Barclays earlier in the year.

According to conveybuddy, the shift was likely driven by changes in remortgage product pricing and cashback levels.

“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,” said Harpal.

“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,” he added.