How Long Between Exchange and Completion?

If you've just had an offer accepted, or agreed to sell your home, the gap between exchange of contracts and completion day is probably the question on your mind right now. The short answer: it typically runs from 7 to 28 days, with most straightforward transactions landing somewhere between one and two weeks. This final stretch sits at the very end of the conveyancing process, and it works differently to everything that came before it. Once you exchange contracts, you are in a legally binding agreement, there is no cooling-off period, and pulling out at this stage carries real financial consequences.

Exchange of contracts is the moment your solicitor and the other side's solicitor formally swap signed contracts and you pay your deposit, usually 10% of the purchase price, though this can be negotiated down to 5% in some cases. From this point, the sale price, the moving date and the terms of the transaction are fixed. Neither side can walk away without breaching the contract and facing financial penalties.

Completion is the day the remaining balance of the purchase price transfers from your solicitor's client account to the seller's solicitor, the Land Registry transfer takes legal effect, and you collect the keys. It's the day you actually become the legal owner and can move in. For a full breakdown of how these two stages fit together, including what happens hour by hour on completion day itself, see our guide to exchange and completion.

The table below sets out the practical differences buyers and sellers need to keep in mind between the two milestones.

The typical gap between exchange of contracts and completion is 7 to 28 days, though the exact timescale depends heavily on whether you're in a chain, buying with a mortgage, or purchasing a new-build property. There's no legal minimum or maximum, the gap is simply whatever date all parties in the chain agree to and write into the contract. That said, most transactions cluster around a handful of common patterns, and knowing which one applies to you makes it much easier to plan removals, time off work, and rental notice.

• 1-2 days: Rare, and usually only seen with cash buyers in short, simple chains where everyone is ready to move immediately. This tight gap leaves almost no room for error if a mortgage offer needs re-confirming or a search comes back late.
• 7-14 days: The standard window for most residential purchases, particularly first-time buyer transactions with no onward chain. This gives lenders time to release funds and solicitors time to prepare the final paperwork without excessive risk.
• 2-4 weeks: Common where you're part of a longer property chain, since every buyer and seller in the chain needs to agree on a single completion date that works for everyone involved. The more links in the chain, the more time is usually built in.
• 1-3 months: Typical for new-build purchases, where completion is tied to the developer's construction schedule rather than a fixed calendar date, and for transactions with a genuinely delayed completion agreed by both sides.

For a broader look at timescales across the entire transaction, not just this final stage, read our guide on how long does conveyancing take, which covers everything from instructing a solicitor through to the day you get the keys.

The exact number of days between exchange and completion isn't fixed by law, it's negotiated between all the solicitors involved and depends on several practical factors. Understanding these helps explain why your gap might be shorter or longer than a friend's, even on what looks like a similar purchase.

Mortgage Lender Fund Release

Most mortgage lenders need at least 5 working days' notice to release funds to your solicitor, and some ask for longer over busy periods. Your solicitor will build this into the completion date they propose, which is one reason a same-day exchange and completion rarely works when a mortgage is involved.

Length of the Property Chain

Every buyer and seller in a chain needs to agree on the same completion date, since money and keys move up and down the chain simultaneously. A chain of four or five transactions typically needs longer to align than a straightforward two-party sale, and one delayed link can push the date back for everyone.

New-Build Completion Schedules

Developers often exchange contracts long before the property is finished, then give a notice period, commonly 10 to 28 days, once the build reaches practical completion. This means the gap on a new build is dictated by construction progress rather than the usual conveyancing timetable. Our guide to new build conveyancing covers this in more detail.

Rental Notice Periods and Move Logistics

If you're renting while you buy, your notice period, typically one to two months under an assured shorthold tenancy, needs to overlap sensibly with your completion date. Many buyers ask their solicitor to hold off exchanging until they've given notice, to avoid paying rent and a mortgage simultaneously for longer than necessary.

Holiday Periods and Bank Holidays

Bank holidays and the Christmas and Easter periods slow down searches, mortgage processing and removal firm availability, so completions scheduled around these dates often need extra buffer days built in. Solicitors' offices and local authority search teams also tend to have reduced capacity during school holidays.

Yes, exchanging contracts and completing on the same day is possible, and it's fairly common for cash buyers in short chains, particularly first-time buyers purchasing directly from a seller with no onward chain of their own. In this scenario, contracts are exchanged in the morning and completion, the transfer of money and keys, happens the same afternoon.

However, same-day exchange and completion removes a safety buffer most buyers rely on. Once you exchange, you're legally committed, and if you complete on the same day, there's no window to sort out a last-minute problem, such as a mortgage offer that needs re-verifying or a delayed bank transfer.

• Works well when: You're a cash buyer, chain-free, and everyone involved, both solicitors, the estate agent, and any removal firm, has confirmed availability.
• Risk 1, no cooling-off: If anything changes on the day, you have no time to renegotiate or pull out without breaching the contract.
• Risk 2, logistics scramble: Removals, meter readings and key collection all need to happen within a few hours, which is stressful if anything runs late.
• Risk 3, mortgage funds: Bank transfers between solicitors can be delayed by system issues or fraud checks, and a same-day gap leaves no buffer if funds don't clear when expected.
• Benefit: It shortens the anxious wait between the two milestones and reduces the chance of gazumping or a change of heart in the interim.

Once contracts are exchanged, both sides move into a short but busy administrative phase. Nothing about the sale price or the parties can change, but a lot of practical groundwork still needs to happen before you get the keys on completion day.

• Solicitor requests mortgage funds: Your solicitor formally asks your lender to release the mortgage advance, usually needing at least 3 to 5 working days' notice ahead of completion.
• Buildings insurance starts: You become responsible for insuring the property from the moment contracts are exchanged, not from completion, so cover needs to be in place before you sign.
• Final meter readings arranged: Both sides agree how gas, electric and water readings will be taken and shared on completion day to close out final utility bills accurately.
• Removal firm confirmed: Most buyers wait until exchange to book removals, since the completion date is only fixed at that point, so this is usually one of the first calls made afterwards.
• Transfer deed prepared: Your solicitor prepares the TR1 transfer deed and any remaining pre-completion searches, then sends the completion statement setting out exactly what you owe, including any conveyancing fees still due.
• Final balance transferred: Your solicitor sends the remaining funds to the seller's solicitor on the morning of completion, and confirmation of receipt triggers the release of keys.

Most buyers find this period passes quickly, often just a week or two, but it's worth working through this checklist methodically rather than leaving tasks until the final couple of days.

Because exchange of contracts is legally binding, failing to complete on the agreed date is a breach of contract, not simply an inconvenience. The Standard Conditions of Sale (5th Edition), which most residential conveyancing contracts are based on, sets out what happens if either side misses the completion date.

If you, as the buyer, aren't ready to complete on time, typically because your mortgage funds haven't arrived or a related sale in your chain has fallen through, the seller can charge contractual interest on the purchase price for every day of delay. This is usually set at 4% above the Bank of England base rate, calculated daily until you complete. On a £300,000 purchase, that can add up to roughly £35 to £40 a day, which mounts quickly if the delay runs into a week or more.

If the delay continues, the seller can serve a notice to complete, giving you, or your buyer, a further 10 working days to finish the transaction. If completion still doesn't happen within that window, the wronged party can rescind the contract entirely, keep the deposit as compensation, and potentially sue for further losses. These are worst-case outcomes and rare in practice, but they explain why solicitors on both sides are cautious about agreeing to completion dates they aren't confident they can hit. For general guidance on conveyancer conduct and standards, the Solicitors Regulation Authority publishes further information for consumers.

Friday is the most popular day to complete, largely because it lets buyers and sellers move house at the end of the working week and settle in over the weekend before returning to work. Estate agents and removal firms often see their busiest schedules on Fridays as a result, which can mean less flexibility if something needs to shift at short notice.

Many conveyancers actually recommend a midweek completion, Tuesday to Thursday, instead. Completing on a Thursday, for example, gives you a buffer day before the weekend if funds are delayed or a last-minute issue arises in the chain, and removal firms tend to be less stretched, so you have more choice over timing. If you're in a longer chain, a midweek date also gives everyone slightly more room to resolve any hiccup without the added pressure of a weekend deadline looming. If you haven't yet compared solicitors, our guide to how to find a conveyancer is worth reading before you agree a completion date.