Conveybuddy has reported a sharp rise in conveyancing instructions following last week’s widespread withdrawal of mortgage products.
The platform recorded a 26% week-on-week increase in total instructions, which the platform says points to a clear shift in broker behaviour as lenders pulled a wide range of products and adjusted pricing.
This follows shifts in market sentiment around rates and funding.
The uplift was most pronounced in the remortgage space, with instructions rising by 32% week-on-week.
Meanwhile, Purchase cases also saw a notable increase, with transactional instructions up 21%.
Conveybuddy’s data suggests the surge was not driven by new demand entering the market, but by existing business being brought forward to meet lender deadlines.
The platform notes that brokers ensured mortgage applications were submitted before products were withdrawn or rates increased, creating a short-term spike in activity.
It says this behaviour translated quickly into conveyancing instructions, as advisers moved to recommend and secure conveyancing representation for clients alongside mortgage applications, rather than delaying until later in the process.
The data also highlights where activity was most concentrated at lender level.
It found cases linked to Santander rose by 156% week-on-week, while Barclays saw a 61% increase and Accord 56%, indicating some of the lenders where brokers were most actively placing business during the period.
Conveybuddy explains the figures demonstrate how quickly lender actions last week impacted the wider transaction chain, with conveyancing demand closely following mortgage application trends.
It adds that it now expects activity to stabilise in the coming weeks as the pipeline normalises, although further lender movements may continue to influence instruction levels in the short term.
Conveybuddy chief executive Harpal Singh says: “We saw a clear and immediate reaction from brokers last week as lenders began withdrawing products and repricing. Advisers quite rightly focused on getting mortgage applications submitted in a very short period of time, but what was equally noticeable was the immediate follow-through into conveyancing instructions.”
“What this shows is that when brokers move, the rest of the process moves with them. Conveyancing isn’t an afterthought in these moments, it becomes part of the same urgency to protect the client’s position.”
“This wasn’t organic growth in the market – it was a reaction to a closing window. Brokers were effectively accelerating decisions, particularly on remortgage cases where they had more control over timing.”
“That kind of ‘now or never’ moment creates immediate pressure not just on advisers, but across the entire transaction chain, including conveyancers.”