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Completion Day for Home Buyers

Completion day explained

Whether buying or selling completion day can be quite confusing. This article explains what will happen.


Your Conveyancer can only complete your matter when they hold cleared completion monies from you (as per your completion statement) AND the lender's mortgage advance.

The completion process is as follows:

• (Where applicable) On the morning of the agreed completion date your Conveyancer waits for receipt of monies from the Buyer’s Conveyancer regarding your SALE. Your Conveyancer MUST receive these before they can send funds on your PURCHASE.

• Your Conveyancer will send the purchase monies to the Seller’s Conveyancer by bank transfer and wait for them to confirm receipt.  There is no guarantee how long that will take. It is an electronic transfer.

• Once the Seller’s Conveyancer receives the purchase monies they will confirm with the Estate Agent or the developer’s site office (new builds). The keys will then be released to you.  Completion has occurred.

• Your Conveyancer will contact you as soon as advised that the Seller’s Conveyancer has received the purchase monies.  You will often hear from the Estate Agent, or Developer’s site staff, before you hear from your Conveyancer.

• Your Conveyancer must then deal with post-completion issues such as Stamp Duty Land Tax or Land Transaction Tax plus they must update the register at HM Land Registry.


Unless your property is Leasehold – make sure your buildings insurance is valid and running from the point of exchange (not from completion). Insurance should already be in place on completion.


No one can say what time of day completion will occur. Funds are transmitted electronically - this is not a physical process.  It is impossible to tell what time the seller’s Conveyancer will receive the funds.


If there is a long chain then completion is likely to be later, rather than, earlier in the day.


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