What Happens on Completion Day — A Step-by-Step Guide for Buyers and Sellers

What Completion Means

Completion is the moment when:

• The balance of the purchase price is paid from the buyer’s solicitor to the seller’s solicitor
• Legal ownership of the property transfers to the buyer
• The keys are released and the buyer can take possession

Completion is triggered by the transfer of funds. Until the seller’s solicitor confirms receipt of the full completion monies, no keys are released and no one moves in.

The Morning of Completion: Funds Transfer

On the morning of completion, your solicitor will draw down the mortgage advance from your lender (if applicable) and, combined with any deposit already held, send the full completion sum to the seller’s solicitor via a CHAPS (Clearing House Automated Payment System) bank transfer.

CHAPS is a same-day payment system used for high-value transfers, but it is not instantaneous. Transfers typically take 1–3 hours to clear. Your solicitor will aim to send funds early in the morning so that the seller’s solicitor receives them before 1–2pm. In practice, completion often takes place between midday and 2pm.

**If you have a mortgage:** Your lender will draw down the mortgage on the morning of completion. Your solicitor will need to request the drawdown in advance (usually the day before). Do not make plans for the morning of completion that cannot be changed — drawdown timing can vary.

In a Chain

If you are in a chain (as most buyers and sellers are), each link in the chain must complete before the next can proceed. The buyer at the bottom of the chain — typically a first-time buyer with no property to sell — sends funds first. Each solicitor in the chain confirms receipt and then sends onwards. This cascade means that a delay at any link holds up the entire chain.

In a long chain, it is not unusual for completion to happen at 3pm or later, even when everyone intends to complete in the morning. Do not assume you can collect keys at 9am.

When Can You Collect Keys?

Keys are typically held with the estate agent. The agent will only release them on instruction from the seller’s solicitor, who will confirm receipt of funds before calling the agent. You should not collect keys until your solicitor (or the estate agent) confirms completion has taken place. Attempting to take possession before confirmation risks legal complications.

Seller Obligations on Completion Day

The seller must:

• Vacate the property by the contractually agreed completion time (usually 1pm unless otherwise agreed)
• Leave all items listed in the TA10 (Fixtures, Fittings and Contents) form
• Leave the property in the condition it was in at exchange of contracts
• Provide all keys (front door, back door, garage, window locks)

Items listed as included in the sale that are missing, or items listed as excluded that remain, are matters for the solicitor to resolve — normally via a deduction from the completion monies.

What Can Go Wrong

**CHAPS delay.** The payment system is generally reliable but occasionally experiences technical delays. Your solicitor should chase if funds are not confirmed received by early afternoon.

**Mortgage drawdown delay.** Lenders occasionally hold up drawdown for administrative reasons. Your solicitor should escalate promptly if this occurs.

**Chain collapse at the last minute.** In rare cases, a buyer at the bottom of the chain fails to complete (mortgage withdrawn, cold feet), causing the entire chain to fail. This is distressing and expensive. Completion protection insurance can mitigate this risk.

**Solicitor not reachable.** If your solicitor is dealing with multiple completions on the same day, responses may be slow. Agree a contact protocol in advance.

After Completion

• Take meter readings and photograph every room
• Collect keys and access codes from the agent
• Confirm that all agreed fixtures and fittings are present

Your solicitor will handle the registration of the transfer with HM Land Registry. This registration typically takes 2–6 weeks for straightforward transactions, but can take longer. Until registration is complete, you are the beneficial owner; the legal title has transferred but the register has not yet been updated.

Once the title is registered, update your Property Passport UK profile to reflect your ownership so that your property record, documents, and compliance items are correctly organised from day one.