Buying or selling a home is a major milestone, and one of the most significant steps in the process is completion day. This is the moment when legal ownership of the property is officially transferred, the balance of funds is exchanged, and keys change hands. It’s exciting, but it can also feel overwhelming without the right guidance.
Whether you’re a first-time buyer or a seasoned seller, here’s everything you need to know about what happens on completion day in the UK, how to prepare for it, and what pitfalls to avoid.
Related: What Happens After You Accept An Offer
What is completion day?
Completion day is the final stage of the conveyancing process in a property transaction. It’s the day the buyer becomes the legal owner of the property and the seller vacates. In most cases, this is also when the buyer receives the keys and can move in.
On this day, your solicitor or conveyancer will handle a range of tasks, including:
- Transferring the remaining balance of the purchase price from the buyer to the seller
- Confirming the release of keys via the estate agent
- Registering the new ownership with the HM Land Registry
- Ensuring all outstanding payments, such as Stamp Duty and legal fees, are settled
It’s worth noting that completion must occur on a working weekday, as banks and solicitors need to process the funds.
How much time is there between exchanging contracts and completion?
The period between exchanging contracts and completion is typically 7 to 28 days, although this can vary depending on the complexity of the chain and mutual agreement between parties.
Once contracts have been exchanged, the transaction becomes legally binding, and a fixed completion date is set. This window allows time for final checks, mortgage fund release, removals to be arranged, and final paperwork to be prepared.
In rare cases, buyers and sellers may opt to exchange and complete on the same day, but this can be risky and is usually only advisable in chain-free or cash transactions.
What happens on completion day?
Completion day begins with both solicitors confirming all the legal and financial elements are in order.
Here’s a breakdown of the key tasks:
Your solicitor will conduct the final checks
Your solicitor will perform final searches such as bankruptcy and priority checks to ensure no last-minute issues can affect the transaction. These checks must be passed before funds are released.
Money will be received from the lender
If you’re using a mortgage to buy the property, your lender will release the funds to your solicitor on or just before completion day. This is triggered once the Certificate of Title is issued.
A redemption statement will be confirmed
If the seller still has a mortgage, their solicitor will obtain a redemption statement to confirm how much is left to repay. This ensures the mortgage is cleared before ownership transfers.
Finishing up your packing and last home checks
For sellers, the morning is spent vacating the property and:
- Pack all your personal belongings
- Take final meter readings
- Clean the home and make it ready for the new owner
- Leave any agreed-upon fixtures and documents, such as appliance manuals
Releasing your keys and collecting your new ones
Once funds have been received and confirmed by both parties’ solicitors, the estate agent is instructed to release the keys. For buyers, this is the moment you can collect your keys and officially move in.
Keep in mind that there is no set time for the key handover. However, in most chain-free transactions, it usually happens between 11 am and 1 pm.
Paying stamp duty
For buyers, your solicitor will handle the Stamp Duty Land Tax (SDLT) payment on your behalf. This must be paid within 30 days of completion, but most solicitors ensure it’s settled promptly.
What can go wrong on completion day?
While most completions run smoothly, a few things can go awry:
- Delayed funds if the buyer’s mortgage lender is slow to release money
- Banking cut-off times, which may postpone the transaction until the next day
- Issues in the property chain, where a delay in one transaction affects others
- Removal complications, particularly if a company is delayed or overbooked
- Documentation errors that can cause legal or timing issues
How to avoid a completion day nightmare?
- Ensure your solicitor has mortgage funds a day early
- Pack and vacate the night before, if possible
- Double-check what fixtures are included to avoid disputes
- Use a trustworthy removals company with flexible storage options
- Stay contactable and check in with your solicitor throughout the day
Getting the keys without the stress
Completion day is the finish line of your homebuying or selling journey. It marks the end of one chapter and the beginning of another. With proper preparation, clear communication, and a team of experienced professionals on your side, you can turn what might seem like a daunting day into a celebration.
From confirming funds and exchanging keys to settling into your new home, every step matters. By staying organised and proactive, and trusting each step, you’ll be ready to enjoy the benefits of your new property.
Need help with your selling journey?
At Newton Fallowell, we understand how stressful the property transaction process can be. That’s why our team of experts is here to support you every step of the way, from your first valuation through to handing over the keys on completion day.
We pride ourselves on transparent communication, local expertise, and a proven track record of successful sales. Whether you’re upsizing, downsizing, or relocating, we can help ensure a smooth and stress-free experience.
Further reading:
What is gazundering and how can you avoid it?
