The two dates. Explained
At exchange. Both solicitors swap signed contracts and the completion date is fixed. From this moment. Pulling out costs you the deposit. Usually 10% of the purchase price.
At completion. Funds transfer between solicitors. The seller's keys are released to the agent. And the property legally becomes yours. Most completions land between 11am and 2pm. Which is why removal crews start early.
How long between exchange and completion?
| Gap | Suits | Risk |
|---|---|---|
| Same day | Cash buyers. No chain | No time to book a remover at normal rates |
| 1–2 weeks | The most common arrangement | Comfortable if removals are provisionally booked |
| 3–4 weeks | Long chains. School-term moves | Higher chance of circumstances changing |
Booking removals around exchange
- Hold a provisional date with your remover as soon as a completion date is proposed.
- Choose a firm that will move a provisional date free of charge before exchange.
- Only pay a non-refundable balance after contracts are exchanged.
- Ask what the charge is for a delayed completion. A good firm will quote a waiting rate rather than re-charge the full job.
What can still go wrong on completion day
- Funds arriving late in a long chain. Pushing key release into the afternoon.
- The seller not having fully vacated the property.
- Bank cut-off times. Typically around 3pm. That push completion to the next working day.
- Insurance: your buildings cover should start at exchange. Not completion.