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Completion Statement in United Kingdom

Completion statement in the Context of Mortgages

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

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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 date

Completion date

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.

This is an advance summary of a forthcoming entry in the Encyclopedia of Law. Please check back later for the full entry.

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(2017, 05). Completion Statement lawi.org.uk Retrieved 08, 2022, from https://lawi.org.uk/completion-statement/

05 2017. 08 2022 <https://lawi.org.uk/completion-statement/>

"Completion Statement" lawi.org.uk. lawi.org.uk, 05 2017. Web. 08 2022. <https://lawi.org.uk/completion-statement/>

"Completion Statement" lawi.org.uk. 05, 2017. Accesed 08 2022. https://lawi.org.uk/completion-statement/

Patricia M. Leopold, 'Completion Statement' (lawi.org.uk 2017) <https://lawi.org.uk/completion-statement/> accesed 2022 August 18

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  • Article Name: Completion Statement
  • Author: Patricia M. Leopold
  • Description: Completion statement in the Context of Mortgages A statement, prepared by the seller, stating exactly how much the buyer [...]

This entry was last updated: May 22, 2017



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