What Completion Day Actually Means
Completion is the legal moment ownership transfers from the developer to you. It is the final step after exchange of contracts, and it is the day you pay the remaining balance of the purchase price. Until completion happens, the developer still legally owns the property — even if you have exchanged contracts weeks or months earlier.
Completion vs Exchange: Understanding the Difference
| Aspect | Exchange of Contracts | Completion |
|---|---|---|
| What happens | Both parties become legally bound | Ownership transfers and you get the keys |
| Deposit | Typically 10% paid (or balance to 10%) | Remaining 90% paid via mortgage and your funds |
| Can you pull out? | Before exchange: yes. After: no (without losing deposit) | N/A — deal is already binding |
| Legal ownership | Still with developer | Transfers to you |
| Keys | Not yet | Handed over once funds confirmed |
| Timing gap | New builds: often same day or within 1-2 weeks. Off-plan: can be months apart | |
For new builds, exchange and completion sometimes happen on the same day (simultaneous exchange and completion), particularly for ready-to-move-in homes. For off-plan purchases, you may exchange months before the build is finished, with completion happening once the developer issues a notice that the property is ready.
Before Completion Day: The Final Week Checklist
Completion day itself goes more smoothly when you prepare properly in the days beforehand. Here is what to do in the week leading up to it.
Seven Days Before Completion
| Task | Why It Matters | Who Handles It |
|---|---|---|
| Confirm completion date with solicitor | Ensures everyone is aligned on timing | Your solicitor |
| Arrange funds transfer to solicitor | Your contribution must be in their client account before completion day | You |
| Confirm mortgage drawdown | Your lender needs to release funds to your solicitor | Your solicitor and lender |
| Book removal company / van | Popular dates book up fast | You |
| Arrange building insurance from completion date | Most mortgage lenders require this from day one | You |
| Notify utility providers | Electricity, gas, water, broadband — start accounts from completion date | You |
| Arrange mail redirection | Royal Mail takes 3-5 working days to set up | You |
| Confirm pre-completion inspection date | Your final walkthrough before you take ownership | Developer and you |
| Check developer's completion requirements | Some require a clean funds confirmation or specific documentation | Your solicitor |
Sending Your Funds to the Solicitor
Your solicitor will send a completion statement showing exactly how much you need to transfer. This covers the difference between the purchase price and your mortgage, minus the deposit already paid, plus their fees and disbursements.
Critical: send the money at least two working days before completion. Bank transfers can take 2-4 hours even with Faster Payments, and if there are any issues (compliance checks, daily transfer limits), you do not want them to delay completion.
Most solicitors require funds via bank transfer from your own bank account. They will not accept third-party payments without prior arrangement (anti-money-laundering regulations). If family members are gifting money towards the purchase, that should already be in your account with the appropriate gift letter documentation.
The Pre-Completion Inspection
Before completion day — usually 1-7 days prior — you will have a pre-completion inspection (sometimes called a demo visit or handover inspection). This is different from a snagging inspection, although many buyers combine elements of both.
What Happens During the Pre-Completion Inspection
| Stage | What Happens | Duration |
|---|---|---|
| Welcome and walkthrough | Site manager walks you through the property room by room | 15-30 minutes |
| Systems demonstration | Boiler operation, thermostat programming, MVHR controls, consumer unit location | 20-30 minutes |
| Safety features | Smoke alarms, carbon monoxide detectors, fire doors, window restrictors | 10 minutes |
| External areas | Garden boundaries, bin storage, parking allocation, meter locations | 10-15 minutes |
| Documentation handover | Appliance manuals, system guides, warranty documents, emergency contacts | 10 minutes |
| Snagging observations | Note any visible defects — cosmetic or functional | Ongoing throughout |
Important: the pre-completion inspection does not prevent completion from proceeding. You cannot refuse to complete based on snagging items (you are already legally committed after exchange). However, the developer should agree to rectify any legitimate defects within a reasonable timeframe after completion.
For a comprehensive room-by-room inspection checklist and how to conduct a thorough snagging survey, see our handover and inspection guide.
Completion Day: Hour-by-Hour Timeline
Here is what typically happens on a new build completion day. Times are approximate — some completions finish by lunchtime, others stretch into the afternoon.
Morning: The Money Moves
| Time | What Happens | Who Does It |
|---|---|---|
| 8:00 - 9:00 AM | Your solicitor confirms your funds are in their client account and prepares the completion paperwork | Your solicitor |
| 9:00 - 9:30 AM | Your solicitor requests mortgage funds release from your lender (if not already received) | Your solicitor and lender |
| 9:30 - 11:00 AM | Mortgage lender releases funds to your solicitor via CHAPS (same-day bank transfer) | Lender |
| 10:00 - 12:00 PM | Your solicitor sends the total completion funds to the developer's solicitor via CHAPS | Your solicitor |
| 11:00 AM - 1:00 PM | Developer's solicitor receives and confirms receipt of funds | Developer's solicitor |
Afternoon: Confirmation and Keys
| Time | What Happens | Who Does It |
|---|---|---|
| 12:00 - 2:00 PM | Developer's solicitor confirms completion to your solicitor | Both solicitors |
| Once confirmed | Your solicitor notifies you that completion has taken place | Your solicitor |
| Once confirmed | Developer releases the keys — usually via the site sales office | Developer / site team |
| Key collection | You collect keys from the sales office or site manager, sign any handover paperwork | You |
| After keys | Take meter readings, check the property, begin moving in | You |
Why Timing Varies
New build completions tend to be slightly more predictable than chain purchases because there is no chain — the developer does not need to buy another property with your money. However, timing still depends on:
- CHAPS cut-off: Banks process CHAPS payments between approximately 8:00 AM and 3:30 PM. Funds sent after this window may not arrive until the next business day
- Lender processing speed: Some lenders release mortgage funds within an hour of request; others take 3-4 hours
- Number of completions: If the developer has multiple completions on the same day, their solicitor may be processing several transactions simultaneously
- Friday factor: Friday is the most popular completion day in the UK. Solicitors, lenders, and the banking system are at their busiest, which can cause delays
What Your Solicitor Does on Completion Day
Most of the action on completion day happens behind the scenes at your solicitor's office. Here is what they are doing while you wait.
Solicitor's Completion Day Tasks
| Task | Detail | When |
|---|---|---|
| Final account check | Verify all funds (your money + mortgage) are in client account | First thing in the morning |
| Pre-completion searches | Some solicitors run last-minute Land Registry and bankruptcy searches | Morning |
| Request mortgage drawdown | Formally request your lender releases the mortgage funds | Morning |
| CHAPS transfer | Send the total purchase price to the developer's solicitor | Once all funds received |
| Receive confirmation | Developer's solicitor confirms receipt and authorises key release | After funds land |
| Stamp Duty submission | File your SDLT return with HMRC (must be done within 14 days) | Completion day or shortly after |
| Land Registry application | Register you as the new owner at the Land Registry | Within priority period (usually 30 working days) |
| Notify your lender | Confirm completion has taken place and send title deeds | Completion day or shortly after |
| Send you the completion pack | Final account, receipts, title information, confirmation letter | Within days of completion |
What You Should Not Do
Do not phone your solicitor repeatedly during the morning. They are managing the process and calling the bank, lender, and developer's solicitor. A single check-in call mid-morning is reasonable, but constant calls slow them down. Most solicitors will contact you proactively once completion is confirmed.
How the Money Transfer Works
Understanding the financial mechanics helps explain why completion takes several hours rather than minutes.
The Flow of Funds
| Step | From | To | Method | Typical Time |
|---|---|---|---|---|
| 1 | Your bank account | Solicitor's client account | Bank transfer (Faster Payments or CHAPS) | Sent days before completion |
| 2 | Mortgage lender | Solicitor's client account | CHAPS | 1-4 hours after request |
| 3 | Solicitor's client account | Developer's solicitor's client account | CHAPS | 1-3 hours |
| 4 | Developer's solicitor | Developer | Internal transfer | Same day or next day |
CHAPS vs Faster Payments
| Feature | CHAPS | Faster Payments |
|---|---|---|
| Cost | £25-35 per transfer | Usually free |
| Speed | Same day (within hours) | Usually within 2 hours, often minutes |
| Maximum amount | No limit | Varies by bank (typically £250,000-£1,000,000) |
| Availability | Business days only, until ~3:30 PM | 24/7 |
| Used for | Property completions (required by most solicitors) | Personal transfers, smaller sums |
| Guarantee | Guaranteed same-day settlement | Not guaranteed (usually fast but can be delayed) |
Most solicitors insist on CHAPS for completion funds because it provides guaranteed same-day settlement. The fee is typically included in your solicitor's disbursements. Some firms now accept Faster Payments for the buyer's contribution if it falls within the bank's limit, but the mortgage funds will always come via CHAPS.
What the Completion Statement Looks Like
Your solicitor will send you a completion statement (sometimes called a financial statement) showing:
| Item | Example Amount |
|---|---|
| Purchase price | £350,000 |
| Less: deposit already paid | -£35,000 |
| Less: mortgage advance | -£280,000 |
| Subtotal (your remaining contribution) | £35,000 |
| Plus: Stamp Duty Land Tax | £2,500 |
| Plus: solicitor's fees | £1,500 |
| Plus: Land Registry fee | £270 |
| Plus: search fees | £300 |
| Plus: CHAPS fee | £35 |
| Total required from you | £39,605 |
Check this statement carefully. If any figures look wrong, query them with your solicitor before completion day — not on the morning itself.
For a full breakdown of all costs involved in buying a new build, see our new build mortgages guide.
Collecting Your Keys
The moment you have been waiting for. But there are practical details to get right.
How Key Collection Works for New Builds
Unlike second-hand purchases where keys go through estate agents, new build keys are typically collected directly from the developer's sales office on site. The process:
- Your solicitor confirms completion has taken place
- Developer's solicitor notifies the site team
- You go to the sales office with photo ID
- You sign the handover form and any remaining paperwork
- You receive the keys, fobs, and any access codes
Keys and Access Items Checklist
| Item | Expected Quantity | Check |
|---|---|---|
| Front door keys | Minimum 2 sets | Test in lock before leaving |
| Back door keys | Minimum 2 sets | Test in lock |
| Window keys | 1-2 sets (if applicable) | Check they match window locks |
| Garage door key / remote | If applicable | Test operation |
| Gate key / fob | If gated development | Test at gate |
| Mailbox key | If communal area | Test |
| Meter cupboard key | If communal meters | Locate meters |
| Alarm code | Default code + instructions | Note and change immediately |
| Parking permit / fob | If allocated parking | Confirm allocation number |
Tip: Do not leave the sales office until you have checked every key works. It is much harder to get replacements once the site team moves on to other handovers.
What to Do Immediately After Getting the Keys
Before you start unpacking boxes, there are time-sensitive tasks to handle in the first hours.
First-Hour Tasks
| Priority | Task | Why |
|---|---|---|
| 1 | Take photographs of every room | Documents the condition at handover — essential for any future disputes |
| 2 | Take all meter readings (gas, electricity, water) | Prevents being charged for developer's usage during construction |
| 3 | Test all taps, showers, toilets | Plumbing issues are easier to report on day one |
| 4 | Test heating and hot water | Confirms boiler is commissioned and working |
| 5 | Check all windows open and close | Identifies any that are painted shut or misaligned |
| 6 | Test all light switches and sockets | Electrical issues need reporting immediately |
| 7 | Check MVHR system is running (if fitted) | Many buyers don't realise they have mechanical ventilation |
| 8 | Locate the stopcock, consumer unit, and gas shut-off | Essential for emergencies |
| 9 | Photograph any defects | Adds to your snagging list with dated evidence |
| 10 | Change the alarm code | The default code is known to site workers |
First-Day Administrative Tasks
| Task | Detail |
|---|---|
| Register with utility suppliers | Contact gas, electricity, and water suppliers with meter readings and your move-in date |
| Set up council tax | Contact local authority — you are liable from completion date |
| Set up broadband | If not pre-ordered, the earliest install date may be 2-3 weeks away |
| Register on electoral roll | Important for credit file and future applications |
| Update your address | Bank, employer, DVLA, GP, dentist, insurance providers |
| Set up TV licence (if applicable) | Required from the date you start watching live TV or BBC iPlayer |
| Inform home insurance | Confirm the policy is active from completion date |
For a comprehensive guide to all moving costs and how to keep them under control, see our moving costs guide.
When Completion Goes Wrong: Delays and Problems
Most completions proceed without incident, but when problems occur, they can be extremely stressful — particularly if you have a removal van booked and nowhere to go. Here are the common issues and how to handle them.
Common Completion Day Problems
| Problem | How Common | Typical Cause | Impact |
|---|---|---|---|
| Mortgage funds delayed | Moderately common | Lender processing backlog, missing documentation | Hours of delay, sometimes pushed to next day |
| CHAPS transfer delayed | Occasional | Bank compliance checks, high transaction volumes (especially Fridays) | Typically 1-3 hours extra |
| Solicitor error | Rare | Wrong account details, missing authorisation, incomplete paperwork | Can delay by hours or even days |
| Developer not ready | Occasional (new builds) | Final building control sign-off missing, last-minute works incomplete | Completion postponed entirely |
| Building control certificate missing | Occasional | Local authority backlog, outstanding compliance issues | Cannot legally complete without it |
| Title discrepancy | Rare | Error in the transfer document, boundary dispute, restrictive covenant issue | Must be resolved before completion |
| Funds shortfall | Rare | Last-minute adjustment not accounted for, miscalculation | Must send additional funds urgently |
If Your Completion Is Delayed by Hours
A delay of a few hours is frustrating but manageable. Here is what to do:
- Stay calm and stay in contact with your solicitor. One call mid-morning and one early afternoon is reasonable. Your solicitor will contact you as soon as completion is confirmed
- Do not go to the sales office to collect keys until your solicitor has confirmed completion. The developer will not release keys without confirmation from their own solicitor
- Keep your removal company informed. If they are being paid by the hour, a delay costs you money. Some companies charge waiting time; others will accommodate a late start
- Have a contingency plan. If you have given up your previous home, identify a nearby cafe or friend's house where you can wait comfortably
- Do not panic. The vast majority of delayed completions resolve on the same day
If Completion Is Postponed to Another Day
If funds cannot be transferred before the CHAPS cut-off (approximately 3:30 PM), completion may be pushed to the next working day. This is rare but happens. Steps to take:
| Action | Detail |
|---|---|
| Confirm with your solicitor | Get written confirmation of the new completion date |
| Notify your mortgage lender | They may need to reissue the funds release authorisation |
| Rearrange removal company | Most will reschedule for the following day, though you may incur additional charges |
| Arrange accommodation | If you have already vacated your previous home, you may need a hotel for the night |
| Document additional costs | Keep receipts for everything — hotel, removal rescheduling, storage, meals |
| Establish who is at fault | If the delay was caused by the developer or their solicitor, you may be entitled to compensation for additional costs |
Developer-Side Delays for New Builds
New build purchases have a unique risk: the property might not be physically ready on the agreed completion date. Common developer-side issues include:
- Building control sign-off not received: The local authority building control officer (or approved inspector) must sign off the property. Without this, your solicitor should not allow completion to proceed
- Outstanding works: External landscaping, roads, drainage, or shared areas not yet finished. Your solicitor should ensure these are covered by retention money or a developer undertaking
- CML/UK Finance Handbook requirements: Your lender's solicitor (often your own solicitor wearing two hats) must confirm the property meets the lender's requirements before releasing mortgage funds
- NHBC cover note not issued: The warranty provider must issue a cover note confirming the property is registered and eligible for warranty cover
Your Legal Rights If Completion Is Delayed
After exchange of contracts, both parties have legal obligations. If the developer fails to complete on the agreed date:
- Notice to complete: Your solicitor can serve a notice to complete, giving the developer 10 working days to complete or face contract rescission
- Interest on late completion: Most contracts include a clause allowing the buyer to claim interest (typically at the contract rate, often 4% above base rate) for each day completion is delayed
- Additional costs: You may be able to claim reasonable additional costs caused by the delay (hotel, storage, removal rescheduling)
- Consumer Code for Home Builders: Under the Consumer Code, developers must give a reliable indication of when the home will be ready and keep buyers informed of delays
- Long-stop date: If the contract includes a long-stop date and the developer has not completed by then, you can usually rescind the contract and get your deposit back. See our off-plan mortgage timing guide for more on long-stop dates
Simultaneous Exchange and Completion
Some new build purchases involve simultaneous exchange and completion — where you exchange contracts and complete on the same day. This is common when:
- The property is already built and ready to move into
- The developer wants a quick sale (end of quarter, last unit on site)
- You are a cash buyer or have a very fast lender
Risks of Simultaneous Exchange and Completion
| Risk | Why It Matters | Mitigation |
|---|---|---|
| No cooling-off period | Once you exchange, you are committed — and you complete the same day | Ensure all searches, surveys, and checks are complete before the day |
| Time pressure | Everything must align perfectly in a single day | Have all funds with solicitor well in advance |
| Less room for negotiation | If issues arise during pre-completion inspection, you cannot delay completion easily | Do the inspection days before, not on the same morning |
| Mortgage complications | Some lenders require a gap between exchange and completion | Confirm with your lender that they support simultaneous |
Completion on New Build Apartments and Leasehold Properties
If your new build is a leasehold apartment, completion involves additional steps and documentation compared to a freehold house.
Additional Leasehold Completion Items
| Item | What It Is | Why It Matters |
|---|---|---|
| Lease | Your solicitor checks the lease terms before exchange | Governs your rights and obligations for the lease term (typically 125-999 years for new builds) |
| Management pack | Information about the freeholder, managing agent, and service charges | You need to know who manages the building and what you pay |
| Service charge budget | First-year estimated service charge and any advance payment | You may need to pay a service charge contribution on completion |
| Ground rent (pre-June 2022 leases) | Annual ground rent payment to freeholder | New leases granted after 30 June 2022 must have peppercorn (zero) ground rent under the Leasehold Reform (Ground Rent) Act 2022 |
| Notice of assignment | Formal notification to the freeholder that you are the new leaseholder | Usually handled by your solicitor; a small fee may apply |
| Buildings insurance | Usually arranged by the freeholder/managing agent for the whole building | You do not need separate buildings insurance, but you do need contents insurance |
| Deed of covenant | Your agreement to abide by the lease terms | Signed by you on or before completion |
What Happens After Completion: Post-Completion Matters
Completion day is not quite the end of the legal process. Several important things happen in the weeks after.
Post-Completion Timeline
| Timeframe | What Happens | Who Does It |
|---|---|---|
| Same day | Your solicitor sends a Stamp Duty Land Tax (SDLT) return to HMRC | Your solicitor |
| Within 14 days | SDLT must be paid (or LBTT in Scotland / LTT in Wales) | Your solicitor from funds held |
| Within 30 working days | Land Registry application submitted to register you as owner | Your solicitor |
| 4-12 weeks after | Land Registry processes the application and issues the title | Land Registry |
| Once registered | Your solicitor sends you the title information document | Your solicitor |
| Once registered | Your solicitor sends the charge certificate to your mortgage lender | Your solicitor |
| Ongoing | Developer addresses any snagging items reported | Developer |
For stamp duty rates and how to calculate what you owe for a new build, see our stamp duty guide.
For understanding how developer after-sales support works and your rights for defect resolution, see our after-sales support guide.
Completion Day Checklist: Everything in One Place
Print this checklist and tick off each item.
Before Completion Day
| Task | Done |
|---|---|
| Funds sent to solicitor (2+ working days before) | ☐ |
| Building insurance arranged from completion date | ☐ |
| Contents insurance arranged | ☐ |
| Removal company booked and confirmed | ☐ |
| Pre-completion inspection done | ☐ |
| Snagging list submitted to developer | ☐ |
| Utility accounts set up for move-in date | ☐ |
| Mail redirection ordered | ☐ |
| Broadband installation booked | ☐ |
| Completion statement checked and agreed | ☐ |
On Completion Day
| Task | Done |
|---|---|
| Phone charged and available for solicitor contact | ☐ |
| Photo ID available for key collection | ☐ |
| Wait for solicitor confirmation before going to site | ☐ |
| Collect all keys, fobs, and access codes | ☐ |
| Test all keys before leaving sales office | ☐ |
| Sign handover paperwork | ☐ |
| Photograph every room (condition record) | ☐ |
| Take all meter readings | ☐ |
| Test heating, water, electrics | ☐ |
| Locate stopcock, consumer unit, gas shut-off | ☐ |
| Change alarm code | ☐ |
| Note any new defects for snagging report | ☐ |
First Week After Completion
| Task | Done |
|---|---|
| Register with council tax | ☐ |
| Register on electoral roll at new address | ☐ |
| Update address with bank, employer, DVLA, GP | ☐ |
| Submit meter readings to utility suppliers | ☐ |
| Set up direct debits for mortgage, council tax, utilities | ☐ |
| Register warranty documents | ☐ |
| File all completion paperwork safely | ☐ |
| Submit detailed snagging list to developer | ☐ |
Frequently Asked Questions
What time do I get the keys on completion day?
There is no set time. Most new build key collections happen between 12:00 PM and 3:00 PM, once funds have cleared and both solicitors have confirmed. Some complete by late morning; others run into late afternoon. Plan for a flexible day rather than a specific hour.
Can I complete on a Friday?
Yes, and Friday is the most popular day. However, Friday completions carry more risk of delay because the banking system is busiest and if something goes wrong, you may have to wait until Monday. Tuesday to Thursday are generally safer choices.
What if the developer has not finished the property by the agreed completion date?
Your solicitor should not let you complete on an unfinished property. If the developer cannot meet the completion date, the contract terms will dictate what happens — usually the completion date is pushed back. If delays become unreasonable, you may be able to exercise a long-stop date clause to rescind the contract. See our off-plan timing guide.
Do I need to be present on completion day?
You do not need to be present for the legal completion itself — your solicitor handles everything. However, you need to collect the keys in person (with photo ID) from the developer's sales office. If you genuinely cannot attend, some developers allow a named representative with written authorisation.
What if there are snagging issues when I collect the keys?
You cannot refuse to complete based on snagging (you are already committed after exchange). Instead, document everything with photographs, submit a formal snagging list to the developer, and follow up through their after-sales process. See our after-sales support guide for how to handle defects effectively.
Can I move furniture in before completion?
No. Until completion has formally taken place and your solicitor has confirmed it, the property belongs to the developer. Moving items in before completion creates insurance, liability, and legal complications. Wait for confirmation, then proceed.