UK Mortgage Glossary
Completion
The day the property purchase finalises and keys exchange.
Full definition
Completion is the day a property purchase legally finalises. Funds (mortgage + deposit) are transferred from your solicitor to the seller's solicitor, ownership legally transfers, and you receive the keys. Completion typically happens 1-4 weeks after exchange of contracts.
How this affects you
Whether completion is relevant to your mortgage depends on your circumstances — lender, product, deposit, employment, credit profile, and stage of application. An FCA-authorised mortgage broker will tell you exactly where it applies to your case.
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