Moving Home: What Happens on Completion day?

Completion day is the moment every buyer waits for. It’s the day the money is transferred, the seller moves out, and you can finally collect the keys to your new home.

After weeks - sometimes months - of mortgage paperwork, searches, surveys, enquiries, contracts and packing boxes, completion day is when everything becomes official. The property legally changes hands, and you become the new owner.

That said, completion day is not quite as simple as turning up at the estate agent’s office first thing in the morning and picking up the keys. Behind the scenes, your solicitor or conveyancer, the seller’s solicitor, the mortgage lender and the estate agent all have a part to play.

Here’s what usually happens before, during and after completion day.

What Is Completion Day?

Completion day is the date agreed by the buyer and seller when the legal ownership of the property transfers from the seller to the buyer.

It usually happens after exchange of contracts. Once contracts have been exchanged, the completion date becomes legally binding. That means both sides are expected to complete the transaction on that agreed day.

For buyers, completion day means:

• Your solicitor sends the purchase money to the seller’s solicitor
• The seller’s solicitor confirms the funds have arrived
• The seller must move out, unless otherwise agreed
• The estate agent is told the keys can be released
• You can collect the keys and take possession of the property

In most cases, completion takes place during the working day, often late morning or early afternoon. However, the exact timing can vary, especially if there is a property chain involved.

What Happens Before Completion?

Before completion can happen, your solicitor or conveyancer will carry out several final checks.

They will make sure all mortgage conditions have been met, request the mortgage funds from your lender and prepare the final completion statement. This statement sets out the money needed to complete, including the purchase price, your deposit, legal fees, Stamp Duty Land Tax if payable, search fees and any other agreed costs.

Your mortgage lender may also carry out final checks before releasing the money. This can include checking your credit file again to make sure your financial position has not changed significantly since your mortgage offer was issued. Taking out new credit, missing payments or making a major financial change before completion could put your mortgage offer at risk.

That’s why buyers are usually advised not to take out a new loan, car finance, credit card or large credit agreement between mortgage offer and completion unless they have spoken to their mortgage adviser first.

On the seller’s side, their solicitor will request a redemption statement if there is an existing mortgage on the property. This confirms the amount needed to repay the seller’s mortgage on the day of completion.

Usually, the seller’s outstanding mortgage is paid off from the sale proceeds. At the same time, your new mortgage begins, assuming you are buying with a mortgage.

What Should Buyers Do Before Completion Day?

Although your solicitor handles the legal side, there are still a few things buyers should do before completion day arrives.

It’s sensible to:

• Transfer any remaining deposit or completion funds to your solicitor in good time
• Check your removals company is booked and confirmed
• Arrange buildings insurance from exchange of contracts, unless you are buying a leasehold property where the freeholder arranges it
• Make sure you know where and when to collect the keys
• Keep your phone switched on and easy to reach
• Avoid taking out new credit before completion
• Confirm utility suppliers and meter reading plans
• Redirect your post
• Pack important documents, chargers, medication and essentials separately

A good tip is to keep a “first night box” with things like the kettle, mugs, tea bags, toilet roll, phone chargers, cleaning wipes, bin bags, snacks and basic tools. When you’re surrounded by boxes, you’ll be glad you did.

What Happens on Completion Day?

On completion day, your solicitor will check that all funds are in place. This includes your mortgage funds from the lender and any balance you need to provide.

Once everything is ready, your solicitor transfers the purchase money to the seller’s solicitor. This is usually done by same-day bank transfer, often through the CHAPS system.

The seller’s solicitor will then confirm when the money has arrived. Once they have received the full amount, they officially confirm completion.

At that point, the seller’s solicitor contacts the estate agent and authorises them to release the keys. The estate agent will then contact you to let you know the keys are ready to collect.

Only once this has happened can you legally move into the property.

What Happens If You Are in a Chain?

If you are part of a property chain, completion can take a little longer.

A chain is where several linked sales and purchases are happening on the same day. For example, your seller may be buying another property, and their seller may also be moving somewhere else.

In this situation, money often has to move up the chain one transaction at a time. Your solicitor may send funds to your seller’s solicitor, who then sends funds to the next solicitor, and so on.

This can mean keys are not released until later in the day, particularly if the chain is long or if there are delays with bank transfers.

It’s frustrating, but very common. The best thing you can do is stay contactable and avoid arranging anything too tightly around a specific key collection time.

What Time Do You Usually Get the Keys?

There is no fixed time for collecting keys on completion day.

In a straightforward purchase with no chain, keys may be released before lunchtime. In a longer chain, it could be mid-afternoon or later.

Many contracts work towards completion around 1pm or 2pm, but this is not guaranteed. The keys can only be released once the seller’s solicitor has received the money and confirmed completion.

So, while it’s tempting to book removals for first thing in the morning, this can sometimes lead to waiting around outside the property. Speak to your removals company about flexibility and keep them updated as the day progresses.

What Happens After Completion?

Once completion has taken place and you have the keys, the property is yours.

Your solicitor or conveyancer still has work to do after completion. They will usually deal with your Stamp Duty Land Tax return, if applicable, and register you as the new owner with HM Land Registry.

HMRC states that Stamp Duty Land Tax must usually be paid and the return submitted within 14 days of completion. In most cases, your solicitor or conveyancer handles this for you and includes the payment in your completion statement.

Your solicitor will also apply to HM Land Registry to update the property title. Registration times can vary depending on the type of application. HM Land Registry currently says some first registrations take several months, while simpler updates may be quicker.

This does not usually stop you from moving in, but it is an important legal step.

How to Help Completion Day Run Smoothly

Completion day can feel exciting, stressful and slightly chaotic all at once. A little preparation can make a big difference.

If you are buying

Make sure your solicitor has all the money they need before completion day. Don’t leave transfers until the last minute, especially if your bank has daily payment limits.

You should also keep your phone nearby, check emails regularly and be ready to collect the keys once the estate agent calls.

If you are moving out of another property on the same day, try to be packed and ready early. If you’re a first-time buyer or not moving in straight away, you may have more flexibility. You can collect the keys on completion day and move in later, perhaps after cleaning, decorating or organising furniture deliveries.

If you are selling

Sellers should aim to be fully packed before completion day begins. The property should usually be empty by the time completion takes place unless a different arrangement has been agreed.

It’s also good practice to leave the property clean and remove all belongings unless they are included in the fixtures and fittings form.

Before leaving, sellers should take final meter readings, secure the property and drop all agreed keys with the estate agent.

How Much Time Is There Between Exchange and Completion?

The time between exchange and completion varies.

A common gap is around one to four weeks, although shorter or longer timescales can be agreed depending on the circumstances. Some transactions complete around 7 to 14 days after exchange, especially where mortgage funds, removals and final arrangements are already in place.

In some cases, exchange and completion can happen on the same day. However, this is less common and can be riskier because nobody is legally committed until exchange happens.

Same-day exchange and completion can also be difficult if there is a mortgage involved, a long chain or removal arrangements to coordinate.

Can Completion Be Delayed?

Yes, completion can be delayed, although serious delays are not the norm.

Possible causes include:

• Mortgage funds not arriving on time
• A delay in the banking system
• Missing paperwork
• A solicitor needing final confirmation from a client
• Problems further up or down the chain
• Last-minute issues with the seller moving out

If completion is delayed on the agreed completion date, the party responsible for the delay may be liable for costs. This is one reason why your solicitor will strongly encourage you to have everything ready in advance.

What Is the Best Day to Complete?

Friday is the most popular day to complete because it gives buyers the weekend to unpack and settle in.

However, Friday is not always the easiest option. Solicitors, lenders, estate agents and removal firms are often busier on Fridays. Removal costs may also be higher due to demand.

There is another risk too. If something goes wrong on a Friday and completion does not happen in time, resolving it may be harder over the weekend.

Completing earlier in the week can sometimes be less stressful. Removal firms may have more availability, solicitors may be less stretched, and there is more time to fix any unexpected issue before the weekend.

Do You Have to Move in on Completion Day?

No, you don’t have to move in on completion day.

Once completion has happened, the property is legally yours, and you can move in whenever you choose. Many buyers move in on the same day because they are selling another property or ending a tenancy.

Others prefer to wait a few days so they can clean, decorate, replace flooring or have furniture delivered before moving in properly.

If you are planning not to move in straight away, make sure the property is insured, secure and checked regularly.

What Next?

Completion day is a huge milestone. It’s the point where the legal process ends, the keys are released, and your new chapter begins.

Most of the work happens behind the scenes, but being organised can help the day run more smoothly. Keep your solicitor informed, avoid last-minute financial changes, book removals carefully and stay contactable throughout the day.

Before long, you’ll be standing in your new home, keys in hand, ready to start making it your own.

The Property Experts are your local property experts. Call us on 0330 179 8180 or email hello@thepropertyexperts.co.uk to chat with a member of our friendly and experienced team.

In the meantime we've answered some of your common questions about what happens on completion day.

FAQs About Completion Day

What actually happens on completion day?

On completion day, your solicitor sends the purchase money to the seller’s solicitor. Once the seller’s solicitor receives the funds, they confirm completion and tell the estate agent to release the keys to you.

What time will I get the keys on completion day?

There is no guaranteed time. In a simple transaction, you may get the keys late morning or around lunchtime. If there is a chain, it may be later in the afternoon.

Can I move in before completion?

No. You cannot move in before completion unless a special legal agreement has been arranged, which is unusual. The property still belongs to the seller until completion has taken place.

What should I avoid before completion?

Avoid taking out new credit, missing payments, changing jobs without advice or making large financial changes before completion. Your lender may carry out final checks before releasing mortgage funds.

Do I need buildings insurance on completion day?

If you are buying a freehold property, buildings insurance is usually needed from exchange of contracts because that is when you become legally committed to the purchase. If you are buying a leasehold property, the building may be insured by the freeholder or management company, but you should check this with your solicitor.

What happens if completion is delayed?

If completion is delayed, your solicitor will speak to the seller’s solicitor to find out what has happened. If one party is at fault, they may be responsible for reasonable costs caused by the delay.

Can completion happen without me being there?

Yes. You do not need to be physically present for completion. Your solicitor handles the money transfer and legal process. You simply need to be contactable and ready to collect the keys once they are released.

Who tells me when I can collect the keys?

Usually, the estate agent will contact you once the seller’s solicitor has confirmed completion. Your own solicitor may also let you know that completion has taken place.

What happens to the seller’s mortgage on completion?

If the seller has a mortgage, it is usually repaid from the sale proceeds on completion. The seller’s solicitor uses a redemption statement to confirm how much needs to be paid back to the lender.

Is completion day the same as moving day?

Often, yes — but not always. Many people move on completion day, but you can move in later if that suits you better. Once completion has happened, the property is yours.