8 min read
Completion day is the final step in buying a home when ownership transfers from seller to buyer. Learn what happens on the day, key timings and how to prepare.
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Completion day is the final step in the house-buying process, when the keys are handed over and ownership of the property legally transfers from the seller to the buyer. From fund transfers to key collection, here’s everything you need to know to prepare for a smooth move.
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Completion day is when the property ownership is transferred from the seller to the buyer. The money is transferred, you pick up the keys and can move into your new home.
Completion day is at the end of the conveyancing process, typically 7–14 days after you exchange contracts, although the exact timing can vary.
The buyer and seller’s solicitors will organise a date that suits all parties in advance, and this date is then written into the contract when you exchange.
Completion usually takes place on a weekday, as banks, conveyancing firms and estate agents have to be open in order to transfer funds, confirm completion and handover keys. Fridays are often popular, giving buyers the weekend to move in and settle.
However, if there are delays and financial holdups completion might fail – meaning you’ll have to wait until Monday to complete, possibly with all your belongings packed up in boxes. Find out more about what happens if completion fails or is delayed.
If you’re buying or selling a property with no chain and there are no complications on the day itself, completion will usually take place late morning, around 11am. This allows your conveyancer time to prepare the final paperwork and transfer funds before the transaction is finalised. Completion may be later in the day if fund transfers are delayed or if technical issues arise, so it’s wise to allow extra time for moving arrangements.
If you are part of a chain, completion is likely to happen later in the day. In longer chains, there is a knock-on effect from when the first buyer in the chain completes to when the final buyer can complete. A typical completion day timeline might look like this:
11am – first buyer completes and collects keys
12 noon – second person in the chain completes and collects keys
2pm – third person in the chain completes and collects keys
3pm - fourth person in the chain completes and collects keys, and so on.
Understanding typical completion day timings in the UK can help you plan your move more effectively, especially if you’re part of a chain or using a mortgage.
The process in the UK typically takes a few hours and includes final checks, funds transfer and handing over keys, however timing can depend on whether there's a property chain and the length of it.
Yes, exchange and completion can happen on the same day in the UK. This is known as a simultaneous exchange and completion. However, it’s not as common as leaving a gap between the two, as it’s considered riskier.
Here are a few key points to consider before deciding if it’s the right option for you:
Housing chains increase risk: More parties in the chain mean more potential problems. If someone changes their mind at the last minute, there’s little you can do.
Lender restrictions: Some mortgage lenders require a minimum period between exchange and completion, which could limit your options.
Funds transfer timing: You need to ensure your funds reach your conveyancer in time, but on same-day exchange, this happens without the security of a fixed completion date.
Preferred buffer: Most buyers, sellers, conveyancers, and lenders prefer (or may require) a gap of at least a few days. This allows time for removals, funds transfer, and handling any last-minute issues.
When it can work: Same-day exchange is more feasible for simpler transactions, such as cash purchases, vacant properties, or transactions with no chain.
If you’re considering this option, check with your conveyancer and lender to confirm if it’s possible, whether there is an extra charge, and ensure your moving arrangements are flexible. While simultaneous exchange and completion can be practical in certain situations, it is not the norm in the UK property market.
Buying a new build property can seem more complex than buying an existing home, however an experienced conveyancer will guide you through the process. The main aspect of new build completions is the ‘long-stop date’. The developer sets this date, which is included in your contract. It guarantees the property will be ready for you to move in by this date.
If the property isn’t completed by the long-stop date, you have the right to cancel the contract and get your deposit back. You also have the option to extend your completion date and continue with your purchase.
Other important considerations when buying a new build include:
Ensuring all snagging issues are documented before completion (if possible).
Confirming all warranties and guarantees are in place.
Checking that all necessary certificates (e.g., gas safety, electrical compliance) are ready.
Thinking about buying a new build? Find out more about the new build conveyancing process and our top tips when buying a new build in our comprehensive guides.
Completion day marks the legal transfer of ownership - when funds are sent, keys are released, and you can move in. This completion day checklist breaks down the key steps you and your conveyancer and you need to complete before, during and after the move.
Confirm mortgage release with your lender: Make sure your mortgage provider has everything they need to release the funds to your conveyancer in time for completion.
Request redemption statement: If selling, your conveyancer will obtain this to confirm how much is remaining on your mortgage.
Ensure deposit and funds are ready for your conveyancer: Double-check that your deposit and any other required funds are cleared and available to transfer on the day.
Prepare completion statements with your conveyancer: Review the financial breakdown showing all payments made and due, including legal fees, Stamp Duty Land Tax, and any agreed adjustments.
Organise removals and utilities: Book your removal company and confirm timings. Contact your gas, electricity, water, broadband, and council tax providers to set up or transfer your accounts.
Arrange buildings insurance: Most lenders require buildings insurance from the day you exchange, so make sure your policy is in place before completion.
Keep your phone nearby: Stay available for calls from your conveyancer or estate agent in case of last-minute updates or confirmations.
Confirm final balance: Ensure the final completion balance (including any remaining fees) is accurate and ready to go.
Fund transfer: Your conveyancer sends the purchase funds to the seller’s solicitor and confirms when the transaction is legally complete.
Receive confirmation of ownership: Once funds have cleared, your conveyancer will call to confirm completion and legal ownership.
Collect your keys: Usually collected from the estate agent once completion has been confirmed – you can now move in!
Do a final property check: If possible, inspect the property before unloading your belongings to ensure it’s in the agreed condition and all fixtures/fittings remain.
Register your ownership to the Land Registry: Your conveyancer will handle this, updating the property title to show you as the new legal owner. This process can take several weeks to complete, depending on the transaction and Land Registry workload.
Pay stamp duty: Your conveyancer will file and pay any Stamp Duty Land Tax (SDLT) due on your behalf. This must be completed within 14 days of completion.
Update your address: Notify banks, insurers, council tax, utilities, HMRC, and the DVLA of your new address to avoid missed bills or penalties.
Settle in and unpack essentials: Focus on key rooms first (bedroom, kitchen, bathroom) and check all utilities are running smoothly.
Receive updated documents: Once registration is complete, your conveyancer will send you key documents such as the updated Land Registry Title (Title Information Document), your final completion statement, and any property warranties, guarantees, or management information (for leasehold properties).
Keep all completion paperwork safely: Store your completion statement, mortgage offer, and any property guarantees or certificates for future reference.
If completion fails or is delayed, the completion date may be postponed to the next working day. Delays can happen for several reasons, including:
Problems with transferring funds
Issues in the property chain
Mortgage funding delays
Changes in personal circumstances
If failure to complete on the agreed contract date is your fault, you’ll be in breach of contract and may incur financial penalties, including:
Contractual interest on funds
Compensation to the seller
Out-of-pocket expenses for onward chain issues, such as removals, overnight accommodation, or furniture storage
For these reasons, you should never agree to a completion date unless you are 100% certain you will be able to meet it.
Completion day can feel overwhelming, however with a bit of planning, you can make the process much smoother. Here’s what to focus on:
Plan ahead: Once your completion date is confirmed, start organising your move. You can think about booking a removal service, agreeing date and times, and you can start packing. Remember to also contact your new utility suppliers, arrange your bills and sort out your building’s insurance.
Have all your paperwork and funds ready: Make sure all documents related to your property sale are organised, and that your deposit or remaining funds are prepared for transfer.
Stay reachable: Keep your phone close and on loud in case your conveyancer, estate agent or anyone else involved needs to contact you or request last-minute documents.
Collect your keys: Once the completion day money transfer has been confirmed, you’ll be able to collect the keys to your new home, usually from the estate agent or seller.
Already planning your home move? Download our handy moving house checklist for step-by-step tips.
It depends on your circumstances. If you’re a cash buyer or buying a vacant property, same day exchange and completion can be quick and efficient. However, if you’re in a chain or relying on a mortgage, it’s generally safer to allow at least a few days between exchange and completion to reduce the risk of delays or financial penalties from a failed transaction.
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