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Completion Date in United Kingdom

Completion date in the Context of Mortgages

The point at which contracts have been exchanged and legal transfer of the property from the seller to the buyer is finalised. The buyer can take possession of the property from this day.

Similar Terms

Completion

Completion

This is the date when the buyer’s solicitor forwards the funds for the purchase of the house to the seller’s solicitor. Once the seller’s solicitor has received the funds, the buyer legally becomes the owner of the property and can move in. The mortgage must be effective before this date in order for the funds to be transferred. The buyer must also pay stamp duty, if applicable, and register their name with the Land Registry.

Completion statement

Completion statement

A statement, prepared by the seller, stating exactly how much the buyer should be paying on completion.

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(2017, 01). Completion Date lawi.org.uk Retrieved 06, 2021, from https://lawi.org.uk/completion-date/

01 2017. 06 2021 <https://lawi.org.uk/completion-date/>

"Completion Date" lawi.org.uk. lawi.org.uk, 01 2017. Web. 06 2021. <https://lawi.org.uk/completion-date/>

"Completion Date" lawi.org.uk. 01, 2017. Accesed 06 2021. https://lawi.org.uk/completion-date/

David Gordon, 'Completion Date' (lawi.org.uk 2017) <https://lawi.org.uk/completion-date/> accesed 2021 June 16

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  • Article Name: Completion Date
  • Author: David Gordon
  • Description: Completion date in the Context of Mortgages The point at which contracts have been exchanged and legal transfer of the [...]

This entry was last updated: January 19, 2017

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