Completion
Completion is the final stage of a property purchase, when the buyer's solicitor pays the balance of the price, ownership transfers from seller to buyer, and the keys are handed over. It takes place on the completion date that was fixed at exchange of contracts. Completion also triggers the buyer's tax and registration duties, including Stamp Duty Land Tax, which in England must be filed and paid within 14 days of completion under gov.uk's rules.
What happens on completion day
On completion day the buyer's solicitor sends the balance of the purchase price, including any mortgage funds, to the seller's solicitor through the CHAPS same-day transfer system. Once the seller's solicitor confirms the money has arrived, the sale completes, ownership passes to the buyer, and the estate agent is authorised to release the keys. The seller must have vacated by then and give vacant possession, unless the property is being sold with a tenant in place. Keys are usually available around midday, though in a chain this can run later into the afternoon, and completion has to fall on a working day because CHAPS does not run at weekends or on bank holidays. From working with landlords buying and selling rental property, completion is the date the property becomes usable, so it is the point to build a tenancy start, a mortgage drawdown or a tenant changeover around.
When completion happens
Completion takes place on the date agreed and written into the contract at exchange. It is commonly seven to fourteen days after exchange, and can run to around twenty-eight days, although the gap is whatever the parties agree. Exchanging and completing on the same day is possible but carries more risk, because there is no buffer to resolve a last-minute problem, so most buyers, sellers and lenders prefer a few days between the two.
What can delay completion
Most completions go through smoothly, but delays do happen, usually because funds arrive late, a bank transfer misses the cut-off, a mortgage drawdown is slow, or a long chain has to complete in sequence so one holdup stalls everyone. If a party fails to complete on the agreed date, the other can serve a Notice to Complete, which sets a final deadline and can carry interest and other penalties. Completion can also slip if the seller has not fully vacated. Landlords should leave a buffer before committing a tenant's move-in, because a date that slips by a few hours, or to the next working day, is not unusual in a chain.
After completion: tax and registration
Two things follow completion. The buyer's Stamp Duty Land Tax return and payment are due within 14 days in England, while the Scottish equivalent, Land and Buildings Transaction Tax, and the Welsh equivalent, Land Transaction Tax, each run to 30 days. The solicitor then registers the transfer of ownership at HM Land Registry, or the Land Register of Scotland, so the buyer is recorded as the legal owner. This position is correct as of June 2026.
Frequently asked questions
How long after exchange is completion?
Often seven to fourteen days, and up to around twenty-eight. The completion date is fixed at exchange. Exchanging and completing on the same day is possible but is generally seen as riskier.
What time do you get the keys on completion day?
Once the seller's solicitor confirms the funds have cleared, the estate agent is authorised to release the keys, usually around midday. In a chain this can be later in the afternoon, so there is no guaranteed time.
Can completion be delayed or fall through?
Yes. Late or delayed funds, a mortgage holdup or a problem elsewhere in the chain can push completion back. Failing to complete on the agreed date can lead to a Notice to Complete and financial penalties for the party at fault.
