Exchange and Completion

A portion of the deposit money is sent to the solicitor prior to exchange along with a signed contract, transfer of land registry (SDLT) and mortgage deed. The solicitor will instruct for the exchange. The completion date is in general soon after and the rest of the money is sent to the solicitor to be transferred over to the vendor's solicitor. The solicitor will request for the fund from the lender and congratulations you officially own the property.