What Are the Steps from Offer to Completion?

Buying your first home is a journey of legal and financial milestones. The process is increasingly tech-driven and transparent, but understanding the roadmap helps you stay in control and avoid last-minute stress. 

Before you make an offer 

The journey actually begins before you find the right property. Sellers and agents expect you to be buyer-ready from day one. 

A Mortgage in Principle (MIP) is your licence to start viewing seriously. It shows sellers you’re a credible buyer. Instructing a conveyancer like Setfords before you make an offer means your file is already open. By the time your offer is accepted, your Digital ID and Open Banking checks are complete – saving up to 14 days of onboarding time. 

Offer accepted 

Once your offer is accepted, the estate agent issues a Memorandum of Sale. This document lists the buyer, seller, and both sets of solicitors. The legal clock starts ticking. 

Valuation and affordability checks 

Your lender now turns your MIP into a formal mortgage application. 

Many lenders use automated desktop valuations to confirm the property’s price within days. If the property is unique or unusual, they’ll send a physical surveyor instead. The lender also reviews your real-time spending data through Open Banking to perform a final stress test on your lifestyle costs and any Buy Now Pay Later (BNPL) debt. 

Searches and enquiries 

While your mortgage is being finalised, your solicitor performs conveyancing searches. Most local authorities have now migrated to the Digital Land Charges Register, which has significantly sped up this phase. 

The Local Authority Search checks for planning permissions, road schemes, and listed building status. Environmental and Water Searches check for flood risks and drainage connections. Your solicitor also raises legal enquiries with the seller’s lawyer – questions ranging from boundary disputes to whether a new boiler has the correct safety certificates. 

For more on what these searches involve, see our guide on what conveyancing actually covers. 

Exchange of contracts 

Once your solicitor is satisfied with the legal pack and you have your formal mortgage offer, you sign the contract. 

You transfer your deposit (typically 10%) to your solicitor’s secure client account. The solicitors then exchange contracts, usually via a recorded phone call. This is the moment the deal becomes legally binding. If you pull out after exchange, you lose your deposit. 

What you can expect with Setfords

More time, more attention: With no targets, Setfords lawyers can dedicate more time to you.

Ultimate flexibility: Our lawyers can tailor their schedules to meet your needs.

Nationwide coverage: with hundreds of consultant lawyers across the UK, we’ll connect you with the right expert.

Dedicated specialist legal partner: work directly with your chosen lawyer from start to finish.

Highly experienced: Setfords lawyers have an average of 20 years’ experience, so you can be assured you’re in safe hands.

Capacity-based allocation: our lawyers never take on more work than they can handle, so you get the focus and attention you deserve.

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Completion day 

Completion usually happens 7-14 days after exchange, allowing time for the lender to release the funds. 

Your lender sends the mortgage funds to your solicitor, who transfers the total purchase price to the seller’s lawyer. Once the seller’s lawyer confirms receipt (usually around midday), they authorise the estate agent to release the keys. You’re officially a homeowner. 

Next steps 

The home-buying process is a team effort. By using digital tools and choosing a proactive solicitor, you can navigate these steps with confidence. Our team at Setfords combines expert legal knowledge with the latest technology to make your first home purchase as smooth as possible. 

Get your free conveyancing quote today.