Definition

In England, Wales and Northern Ireland, completion is when the conveyancers transfer the purchase money, the transaction completes and keys can normally be released. Scotland uses a different process and commonly refers to settlement on the date of entry.

Practical example

The buyer should wait for the conveyancer or estate agent to confirm completion before collecting keys.

Why it matters

Mortgage funds, deposit money, legal documents and any transaction tax arrangements must be ready for this stage.

First-time buyer process timeline

Source and review

Reviewed 16 July 2026. Product criteria and rules can change.

GOV.UK: buying a home

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