Completion day is the moment you’ve been working towards – the day you officially become a homeowner and get the keys to your new property.
It’s an exciting milestone, but it can feel a bit nerve-wracking if you don’t know what to expect. Understanding what happens on completion day, who does what, and when you’ll get access to your new home helps you stay calm and prepared.
Related: The process of buying a house explained
What is completion day?
Completion day is when ownership of the property legally transfers from the seller to you. Your solicitor sends the remaining funds to the seller’s solicitor, the property is officially yours, and you can collect the keys.
This usually happens several days or weeks after you exchange contracts, though sometimes exchange and completion happen on the same day. Once completion occurs, there’s no going back – the sale is legally binding and final.
The exact timing depends on what was agreed when you exchanged contracts. Completion typically takes place on a weekday, and most completions happen between midday and 3pm, though this can vary.
What you need to do before completion day
In the days leading up to completion, there are several things you should sort out. Arrange your buildings insurance to start from completion day – you’ll need this in place before you take ownership.
Confirm your moving arrangements. Book removal companies well in advance, and if you’re doing it yourself, arrange van hire and help from friends or family.
Do a final metre reading at your current property if you’re moving from rented accommodation or selling. Contact utility companies to set up accounts at your new address, ready to switch over on completion day.
Keep in touch with your solicitor. They’ll confirm the completion day timeline and let you know roughly when to expect access to the property.
Related: Understanding solicitors fees: A complete guide for first-time buyers
The completion day timeline
On completion day itself, your solicitor handles most of the work. They’ll receive confirmation that your mortgage funds have arrived, then transfer the full purchase amount to the seller’s solicitor.
The seller’s solicitor confirms receipt of the money and authorises release of the keys. This confirmation then passes back through the chain until it reaches your solicitor, who lets you know the property is yours.
In a straightforward transaction with no chain, this can happen quite quickly. In a chain, it takes longer as each completion must happen in sequence. Your estate agent typically holds the keys and will call you when they’re ready for collection.
Most completions happen between 12pm and 3pm, but delays are common. Don’t book removal vans to arrive first thing in the morning – you’ll likely be waiting around.
Costs paid on completion day
Your solicitor handles the completion day money transfer, which includes the remaining purchase price after your deposit, plus various fees and charges.
Stamp duty is usually paid shortly after completion. Your solicitor will calculate what you owe based on the purchase price and submit payment to HMRC on your behalf.
You’ll also pay your solicitor’s fees around this time, along with disbursements for searches and other legal work. Make sure you have funds available in your account for these costs.
Land Registry fees are paid to register you as the new owner. Again, your solicitor handles this, but the cost comes from your funds.
What happens behind the scenes
While you’re waiting for the phone call, there’s a lot happening that you don’t see. Your solicitor is coordinating with the seller’s solicitor, confirming receipt of funds, and ensuring all legal requirements are met.
If you’re in a chain, each link must complete in the right order. Usually this means working up the chain from the bottom – the first-time buyer completes first, allowing their seller to complete, and so on.
The estate agent coordinates key collection. Once they receive confirmation from the seller’s solicitor that completion has happened, they make the keys available to you.
Your solicitor also registers the property in your name with the Land Registry, though this happens after completion day and can take several weeks to process fully.
Related: Exchanging contracts: guide to completion
What if there’s a delay?
Delays on completion day are frustrating but fairly common. The money transfer might take longer than expected, or someone in the chain might face last-minute issues.
Stay in contact with your solicitor and estate agent. They’ll keep you updated on what’s happening and give you realistic expectations about timing.
If completion doesn’t happen by the agreed deadline, there can be financial penalties. The contract usually specifies a daily interest charge payable by whichever party caused the delay.
In rare cases, completion might need to be rescheduled to the next working day. This is a last resort, but your solicitor will advise you if it looks likely.
Buying with no chain vs in a chain
What happens on completion day with no chain is generally more straightforward. There’s no waiting for other transactions to complete first, so once your solicitor has the funds and everything is in order, completion can proceed.
What happens on completion day in a chain is more complex. Each transaction depends on the one before it, creating a domino effect. The bottom of the chain completes first, releasing funds up the chain.
This means more waiting and more potential for delays. If someone at the top of the chain has a problem, it affects everyone below them.
Communication is important in a chain. Your solicitor will be in contact with other solicitors in the chain, and your estate agent should keep you informed about progress.
What to do immediately after getting the keys
Once you collect the keys, do a final walk-through of the property. Check that the seller has left everything agreed in the contract and hasn’t removed fixtures or fittings they shouldn’t have.
Take metre readings for gas, electricity, and water. Photograph them as evidence and notify the utility companies with your readings and move-in date.
Check that you can access the property. Try all the keys for front and back doors and make sure windows open and close properly.
If anything is missing or damaged that shouldn’t be, document it immediately with photos and contact your solicitor. Issues are easier to resolve if you report them straight away.
Common buyer mistakes on completion day
Don’t arrive at the property too early. You can’t access it until completion has happened and the estate agent confirms the keys are ready. Turning up at 9am when completion won’t happen until 2pm just means hanging around.
Don’t book removal vans for specific early morning times. Build in flexibility because completion timing is unpredictable. Many removal companies understand this and offer afternoon slots.
Keep your phone charged and with you. Your solicitor and estate agent will be trying to reach you, and you don’t want to miss the call saying your keys are ready.
Don’t forget to arrange time off work. Completion day usually requires you to be available during working hours, and there’s often more to do than you expect.
Your completion day checklist
A completion day checklist helps you stay organised. Before the day, confirm your buildings insurance starts on time, arrange removals, and set up utilities.
On the day itself, stay in contact with your solicitor, keep your phone charged, and be ready to collect keys when called. After collecting keys, do your walk-through, take metre readings, and test all access points.
Completion day is an exciting milestone, but it doesn’t have to be stressful. With the right preparation and support, it can be a smooth and rewarding conclusion to your property purchase.
At Martin & Co, we’re with you every step of the way. Our agents work closely with your solicitor to ensure everything runs smoothly on completion day and beyond. Speak with your local Martin & Co team for expert guidance throughout your property journey.
