You’ve had your offer accepted on your dream home and are several weeks into the residential property conveyancing process. After weeks or months of waiting, you can’t wait to get the keys to your new home, but if you’re a first-time buyer, what happens on completion day can seem like a bit of a mystery.
What does completion mean when buying a house?
Completion day is the moment when you officially become the owner of your new property.
Even though you might have exchanged contracts and put down a deposit, until completion day, you don’t actually own the property. You’re committed to buying it (and the seller is committed to selling), but the actual ownership hasn’t changed hands.
For most people, completion day is also moving day. The seller will have packed up and moved out (usually by midday), leaving the property empty and ready for you. You’ll typically get your keys sometime in the afternoon, once all the money has been transferred and your conveyancer gives the all-clear.
Who decides the completion date?
The completion date is usually agreed upon between you and the seller during the exchange of contracts stage. Your solicitor will work with the seller’s solicitor to find a date that works for everyone involved.
If you’re in a property chain (where the seller is also buying another property, or your buyer is selling theirs), it gets a bit more complicated because everyone needs to coordinate their moving dates.
In most cases, you’ll complete within one to four weeks after exchanging contracts. This gives everyone enough time to arrange house removals, sort out final bits of paperwork, and get everything ready for the big day. Sometimes, if everyone’s eager to get moving, you might even exchange and complete on the same day, but this is less common and can feel a bit rushed.
Once you’ve exchanged contracts and agreed on a completion date, that date becomes legally binding. Both sides are committed to completing on that day, so you should choose a date you’re confident you can stick to.
How to Prepare For Completion Day
Your solicitor will handle most of the legal preparation, but staying organised on your end makes their job easier and things less stressful for you. It’s a good idea to work through a moving house checklist to keep everything on track.
Get Your Finances Sorted Early
Your solicitor will need the remaining funds for your property purchase a few days before completion day. This usually means getting your mortgage funds released from your lender and having your deposit ready to transfer. Don’t leave this to the last minute, as banks can sometimes take a while to move large amounts of money.
If any of your funds are tied up in savings accounts or investments, make sure you request the money well in advance. Some accounts have notice periods, and you don’t want to be scrambling around trying to get your hands on your own money when time’s running short.
Book Your Removal Company
Good removal companies get booked up quickly, especially at busy times like the end of the month or during school holidays. Get quotes and book your movers as soon as you know your completion date.
Arrange Time Off Work
You’ll probably need to book time off work for completion day so you are available for phone calls from your conveyancer and can collect your keys when they’re ready.
Sort Out the Practical Bits
Think about the basics you’ll need in your new home on day one: a kettle, tea bags, toilet roll, phone chargers, and maybe a takeaway menu or two. Pack a survival kit so you won’t have to hunt through boxes for essentials when you’re tired from moving.
The Completion Day Timeline
Knowing how completion day works will help you to plan ahead, but you need to stay flexible, as lots can change. Most completions happen smoothly, but it’s worth having a backup plan in case things run a bit later than expected.
Morning (9am – 12pm): The Behind-the-Scenes Work
Your conveyancing solicitor will be busy first thing in the morning, even though you might not hear from them straight away. They’ll be checking that all the final paperwork is in order and preparing to transfer your money to the seller’s solicitor.
The seller should be packing up and getting ready to move out. Most people aim to be out of the property by midday, though this can vary depending on what’s been agreed. If you’re in a chain, your solicitor will be coordinating with everyone else to make sure all the transactions can happen in the right order.
Midday (12pm – 2pm): The Money Moves
This is when the main event happens – your solicitor transfers the completion funds to the seller’s solicitor. This includes your mortgage money (if you’re getting one) plus any additional funds needed to reach the full purchase price.
The transfer itself only takes a few minutes, but your solicitor will wait for confirmation that the money has arrived safely before giving you the green light. Banking systems are usually reliable, but they can occasionally have hiccups, which is why your solicitor builds in a bit of buffer time.
Afternoon (2pm Onwards): Keys & Celebration Time
Once the seller’s solicitor confirms they’ve received all the money, they’ll authorise the release of your keys. This might be through the estate agent, or sometimes the seller hands them over directly.
The exact time will vary, depending on how smoothly everything has gone. Your estate agent or solicitor will call you as soon as the keys are ready for collection.
Late Afternoon: You’re Officially Home
The property is now legally yours, and you can start moving in properly.
The Completion Process for Buying a New Build Property
If you are buying a new build, there are a few extra steps to new build residential conveyancing and some important differences compared to purchasing an older property.
Exchange and Completion: Not Always Fixed
One of the biggest differences is that the completion date isn’t fixed at exchange when you’re buying a new build. Instead, your solicitor will exchange contracts once the developer provides a projected build completion timeline.
The actual completion will be “on notice”, which means the developer will notify your solicitor (usually with 10 working days’ notice) once the home is ready for you to move in.
Delay Completion Risks
The uncertainty of a fixed completion can lead to delays. If your mortgage offer has a time limit or you’re coordinating a move from a rented property, this lack of a definite date can be tricky.
In most cases, your contract will include a long stop date (the latest possible completion date) for several months after the exchange.
Inspections & Final Checks
Before you move into your new home, the property must pass final building inspections and receive completion certificates (like NHBC sign-off). You may also want to arrange a snagging inspection to check for any minor defects the developer should fix before or shortly after you move in.
Getting the Keys
Unlike older properties where you collect the keys from the estate agent, with new builds, you’ll usually collect your keys from the sales office or site manager once your solicitor confirms the funds have been received by the developer’s solicitor.
Common Things That Go Wrong on Completion Day
Even with the best preparation, completion day can sometimes go off course. Most issues can be sorted out on the same day, and your solicitor will have dealt with these situations many times before.
Delayed Money Transfers
Sometimes bank transfers take longer than expected, especially if there are large amounts involved or if the banking systems are having a slow day. This might mean your keys are ready a bit later than planned, but it rarely stops completion from happening altogether.
Your solicitor will stay on top of this and keep you updated. In most cases, it’s a case of waiting an extra hour or two rather than anything more serious.
Last-Minute Mortgage Hiccups
Occasionally, mortgage lenders need to do final checks before releasing funds. This might happen if something has changed since your original application, or sometimes it’s just routine verification that takes longer than usual.
If this happens, your solicitor will be in touch with your lender to sort things out quickly. Most of these issues get resolved on the day, though it might push your completion time back a few hours.
Sellers Running Late With Moving Out
Sometimes, the people selling to you are waiting for their own completion to go through before they move out. If there’s a delay somewhere else in the property chain, it can have a knock-on effect.
Your solicitor will keep you informed about any delays, and in most cases, everything catches up by the end of the day.
Next Steps After Completion
Congratulations – you’ve got your keys and you’re officially a homeowner! But before you get too carried away with unpacking and ordering pizza, there are a few important bits to tick off your list.
Your Solicitor Handles the Official Paperwork
The good news is that your solicitor will take care of most of the legal admin for you. They’ll register your ownership with the Land Registry, which makes you the official owner on all the government records. They’ll also pay any Stamp Duty that’s due and make sure all the legal documents are filed properly. You’ll get copies of all the important documents for your records.
Sort Out Your Home Insurance
Your building’s insurance should already be in place from the moment you get your keys (your mortgage lender would have insisted on this), but it’s worth double-checking that everything’s covered properly. If you’re buying contents insurance too, now’s the time to get that sorted.
Register for Council Tax
You’ll need to let the local council know that you’re the new owner so they can update their records and start sending council tax bills to you instead of the previous owner. Most councils have online forms that make this pretty quick to do.
Update Your Address Everywhere
This bit’s a bit tedious, but it’s important. You’ll need to tell your bank, employer, HMRC, DVLA, and anyone else who sends you important post. Setting up a mail redirection service with Royal Mail can help catch anything you forget in the first few weeks.
Get to Know Your New Home
Take some time to locate important things like the stopcock (for turning off the water), the fuse box, and the gas meter. The previous owners might have left you some useful information about the boiler, local services, or quirky things about the house.
Take the Stress Out of Moving With Triangle Legal Services
We’ve guided thousands of buyers and sellers through completion day, and we know exactly how to make the residential conveyancing process as smooth as possible. Our experienced conveyancing team handles all the behind-the-scenes work so you can focus on getting ready to move into your new home.
Get an online conveyancing quote from us today. We’ll explain exactly how we can help and give you a clear, upfront quote with no hidden surprises.
FAQS About Completion Day
What time do you get the keys on completion day?
There’s no set time for getting your keys, as it all depends on when the money transfers go through and everything is confirmed as complete. Most people collect their keys sometime between 2 pm and 5 pm, but it can be earlier or later, depending on how smoothly things go.
What happens if completion is delayed?
If completion gets delayed on the day, it’s usually just a few hours rather than cancelling altogether. Your solicitor will keep you updated about what’s causing the hold-up and when they expect things to get back on track.
In the rare cases where completion has to be postponed to another day, you won’t lose the sale as the legal commitment is still there from when you exchanged contracts. Your solicitor will work with everyone involved to agree on a new completion date as quickly as possible.
Can you exchange and complete on the same day?
The exchange of contracts and completion can take place on the same day, though it’s less common and can feel quite intense. It means you’re making the legal commitment to buy and then transferring ownership all in one go.
This usually happens when everyone in the chain is ready to move quickly, or when you’re buying a property that’s not in a chain. Your solicitor will make sure everything’s properly prepared beforehand so the day runs smoothly.
Can you complete and move in on the same day?
For most people, the day of completion and moving happens on the same day. Once you’ve got your keys in the afternoon, there’s nothing stopping you from moving your belongings in straight away. It’s best to assume you won’t get your keys until mid-afternoon, so plan your moving day around that. Your removal company will need to be flexible about timing, and you might find yourself moving boxes in the evening rather than first thing in the morning.
Do I have to move out on completion day?
If you’re selling a property, then yes, you’ll need to move out by completion day. Most sellers aim to be completely moved out by midday, leaving the property empty and clean for the new owners.
You can’t stay in the property once completion has happened – it legally belongs to someone else at that point.
If you’re buying and selling on the same day, you’ll need to coordinate your move carefully. Many people arrange to move their belongings into storage or a removal van in the morning, then move into their new property once they get the keys in the afternoon.
What is a completion statement?
A completion statement is a breakdown of all the costs and payments involved in your house purchase or sale. It’s sent to you by your solicitor ahead of completion day and shows exactly what you owe or what you’ll receive.
If you’re buying a property, it includes:
- Purchase price
- Deposit already paid
- Mortgage funds
- Legal fees and search costs
- Stamp duty and Land Registry fees
- Final amount you need to transfer
If you’re selling, it includes:
- Sale price
- Estate agent and legal fees
- Mortgage repayment
- Amount you’ll receive after completion
How do you complete a house purchase faster?
To complete a house purchase faster, focus on these steps:
- Instruct a solicitor early, ideally as soon as your offer is accepted.
- Be responsive. Make sure you return paperwork and provide ID or funds quickly.
- Get your mortgage in place and have a mortgage in principle ready.
- Book searches and surveys early to avoid delays.
- Stay in close contact with your solicitor and estate agent to keep things moving.
The faster all parties cooperate and provide the required documents, the sooner you can complete.
How long does completion take?
On completion day, the process usually takes a few hours, but the exact timing can vary. In a chain, delays are more likely because each completion depends on the one before it. If you’re chain-free, the process is usually faster and more predictable.