Completion Statement Explained, With an Illustrative Example

A completion statement is the account your solicitor sends before completion, showing every sum for your purchase or sale and the balance at the end. On a purchase, the balance is the money you need to send us before completion day. On a sale, it is the money you receive after the mortgage, the estate agent and the legal costs are paid.

Figures checked 20 October 2026.

When you get it

Most solicitors send a completion statement once the figures are known, which is usually just before or soon after exchange of contracts. You need it in time to move the money, because your funds must be cleared in our client account before completion day. Your solicitor tells you the date the money needs to arrive.

Some figures, such as the mortgage redemption amount on a sale, only become final close to completion, so a draft statement may be updated.

An illustrative buyer's statement

A freehold home in England for £300,000, bought by one person moving home, with a £240,000 mortgage and a 10% deposit paid on exchange. The mortgage and deposit amounts are made up for the example. Our fee and the disbursements come from our fee scale, and the Stamp Duty and Land Registry fee from the government's rates. The example assumes nothing was paid on account.

Money going out:

• Purchase price: £300,000
• Our fees: £1,010 + VAT of £202, so £1,212
• Disbursements (searches, identity checks, Land Registry searches; our published typical figure): £319
• Stamp Duty Land Tax: £5,000
• HM Land Registry fee: £150
• Total: £306,681

Money coming in:

• Deposit you paid on exchange: £30,000
• Mortgage advance from your lender: £240,000
• Total: £270,000

Balance due from you before completion: £36,681

That is the £30,000 of the price not covered by the deposit and the mortgage, plus £1,531 of our fees and disbursements, and £5,150 of Stamp Duty and Land Registry fee.

What each line means:

• Purchase price. The price in the contract.
• Our fees. For this purchase our quote lists Legal Fees, Preparation of SDLT forms, Application for Registration, the File Opening Fee (Non-refundable), the Telegraphic Transfer Fee (Per Transfer), the Mortgage Handling/Admin Fee and the Lender Portal Management Fee. Together they are £1,010 + VAT.
• Disbursements. Costs we pay to others on your behalf. Search fees are set by the local council, so this figure varies. If you paid for the searches earlier, that payment is shown as a credit.
• Stamp Duty Land Tax. Paid to HMRC. £5,000 is the figure at the standard rates for a £300,000 home. A first-time buyer would pay nothing, and someone keeping another home would usually pay the higher rates.
• HM Land Registry fee. Paid to register you as the owner. For an existing home registered online it is £150 for a price from £200,001 to £500,000.
• Mortgage advance. The money your lender sends us for completion. Some lenders take their own fees out of it, so the advance can be less than the loan.
• Money on account. If you paid money to us when you instructed us, it is deducted from the balance.

An illustrative seller's statement

A freehold home in England sold for £350,000 by one person, with a mortgage to pay off. The mortgage balance and the estate agent's fee are made up for the example. Our fee and disbursements come from our fee scale.

Money coming in:

• Sale price: £350,000

Money going out:

• Mortgage redemption, from the lender's statement: £150,000
• Estate agent's fee, on the agent's terms: £4,200
• Our fees: £635 + VAT of £127, so £762
• Disbursements (identity check, office copies, portal costs): £46

Balance to you after completion: £194,992

What changes on a sale:

• Mortgage redemption. We ask your lender for a redemption statement for the completion date and pay the mortgage off from the sale money. The figure includes interest up to that day.
• Our fees. For this sale our quote lists Legal Fees, the File Opening Fee (Non-refundable), the Telegraphic Transfer Fee (Per Transfer) and the Mortgage Redemption Fee. Together they are £635 + VAT. There is no Lender Portal Management Fee on a sale.
• Estate agent's fee. We pay it from the sale money if you ask us to, at the figure on the agent's invoice.
• Disbursements. On a sale these are the identity check, office copies of the title from HM Land Registry and the portal costs. Our guide to solicitor fees for selling a house explains each one.
• If you are buying as well. The balance from the sale goes towards your purchase, and both appear on one statement or on two linked ones.

Checking your statement

Before you send any money, check that:

• the price matches the contract
• the deposit and any money on account you have already paid are credited
• the mortgage figure matches your mortgage offer, less any lender fees
• our fees match your written quote
• Stamp Duty is worked out on the right basis: standard, first-time buyer or higher rates

If something looks wrong, ask us before you send the money.

Paying the balance safely

Fraudsters target buyers by sending emails that look like they come from the solicitor, with changed bank details. Before you send any money, phone us on a number you already have, such as the one on our website, and confirm the account details. We will never change our bank details by email, text or phone call, so treat any message saying they have changed as suspect and call us before acting on it. Allow for daily transfer limits on large payments.

Questions people ask

Do you need a completion statement to exchange?

Your solicitor needs to know you have the money before you exchange, because exchange commits you to buy. That is why many solicitors send the completion statement, or a draft of it, before exchange.

When do you pay the balance on a completion statement?

Before completion day, by the date your solicitor gives you. The money has to be cleared in the solicitor's client account so it can be sent to the seller's solicitor on the day.

Where do I get a completion statement from?

From your own solicitor or conveyancer. It is drawn up from the contract, your mortgage offer, the lender's figures and the solicitor's own bill.

What happens on completion day?

The money moves from your solicitor to the seller's solicitor, the seller's mortgage is paid off, and the keys are released. Our guide to exchange and completion explains each step and how long it takes.

Get your figure

Our conveyancing cost calculator shows our fees, the disbursements and the government charges for your price. Our guides to solicitor fees for buying a house and what a fixed-fee quote covers explain each line, and our fees page has our published ranges. For an exact, itemised figure, get a quote.

Sources

Our fees and disbursements: our fee scale, checked 20 October 2026. Published ranges: our fees page.

Stamp Duty rates: gov.uk/stamp-duty-land-tax/residential-property-rates

Land Registry fees: gov.uk/guidance/hm-land-registry-registration-services-fees

The two statements are illustrations, not a quote. Your own statement depends on your price, your mortgage, your agent's fee and the searches for your property. This is general information, not tax advice. Tax rates and government fees change; check the figures that apply on the day you complete.