What Is a Completion Statement When Selling a House?

When you sell a property, the final days before completion can feel like a blur of paperwork. Among the documents your solicitor sends you, one of the most important is the completion statement. This single document tells you exactly how much money you will walk away with -- and where the rest of the sale price has gone.

Despite its importance, many sellers barely glance at their completion statement before signing off. That is a mistake. Errors happen more often than you might expect, and once the money has been distributed on completion day, unpicking mistakes becomes far more difficult. This guide explains what a completion statement is, what every line means, how to verify the figures, and what to do if something looks wrong.

This guide covers residential property sales in England and Wales. If you want to understand the broader process of what happens on the day itself, see our guide to what happens on completion day for the seller.

What is a completion statement?

A completion statement (sometimes called a "financial statement" or "statement of account") is a document prepared by your solicitor that sets out the financial summary of your property sale. It lists every amount coming in (the sale price) and every amount going out (mortgage, fees, costs), and shows the net proceeds that will be transferred to your bank account after completion.

Think of it as the receipt for your entire transaction. Your solicitor uses it to ensure that the correct amounts are paid to the correct parties on completion day, and you use it to confirm that the figures match what you have been told throughout the process.

Your solicitor is required under the Solicitors Regulation Authority (SRA) rules to provide you with a clear breakdown of how your money will be handled. The completion statement is how they fulfil that obligation.

When do you receive it?

You will normally receive the completion statement two to five working days before the completion date. This is after exchange of contracts, once your solicitor has obtained all the final figures they need: the mortgage redemption amount from your lender, the estate agent's invoice, and their own fee calculation.

If your solicitor has not sent you the completion statement by three working days before completion, chase them. You need enough time to review the figures, compare them against your records, and raise any queries. Trying to resolve errors on the morning of completion day adds unnecessary stress and can even delay the transaction.

For a detailed explanation of what your solicitor handles during this period, see our guide on what your solicitor actually does when you sell.

What figures appear on a completion statement?

A completion statement typically contains the following line items. The exact format varies between solicitors, but the substance is always the same.

For a full explanation of each cost category, see our conveyancing costs breakdown guide.

Example completion statement

Here is a realistic example of a completion statement for a freehold house selling at £350,000 with an outstanding mortgage of £185,000. The seller has used a high street estate agent on a 1.2% plus VAT sole agency agreement.

In this example, the seller receives £158,292.64 from a £350,000 sale. The largest deductions are the mortgage (£185,247.36) and the estate agent fee (£5,040.00). The solicitor's fees and disbursements together account for roughly £1,492.

If you want to understand how estate agent fees are calculated in detail, see our guide to estate agent fees explained. For a breakdown of what solicitors charge, see solicitor fees for selling a house.

How mortgage redemption figures work

The mortgage redemption figure is usually the largest single deduction on a completion statement, and it is also the figure most likely to cause confusion. Here is how it works.

Your solicitor requests a redemption statement from your mortgage lender during the conveyancing process. This statement shows exactly how much is needed to pay off the mortgage in full on a specific date. It includes:

• The outstanding capital balance
• Interest accrued up to the redemption date, calculated on a daily basis
• Any early repayment charges (ERCs) if you are still within a fixed-rate or discounted-rate period
• An administration or "deeds release" fee, typically £50 to £300

The daily interest element is why the redemption figure is only valid for a specific date. If your mortgage charges interest at, say, £14.50 per day, a one-day delay in completion adds £14.50 to the total owed. A five-day delay adds £72.50. This is why your solicitor obtains the redemption figure as close to the completion date as possible, and may request an updated figure if the date shifts.

If you are still within a fixed-rate period and face an early repayment charge, this can add significantly to the redemption figure. ERCs typically range from 1% to 5% of the outstanding balance. On a £185,000 mortgage, a 2% ERC would add £3,700. See our guide on early repayment charges on mortgages for a full explanation of how these work and when you might avoid them.

Apportionments explained

Apportionments are adjustments that split ongoing costs fairly between you and the buyer based on the actual completion date. They ensure that neither party pays for a period they did not own the property.

The most common apportionments are:

• Council tax: If you have paid council tax for the full month but completion happens on the 18th, the buyer owes you for the remaining 12 or 13 days. Your solicitor calculates the daily rate and adds a credit to your completion statement.
• Ground rent (leasehold): If you have paid ground rent in advance for a period that extends beyond completion, you are owed a refund for the unused portion.
• Service charges (leasehold): Similar to ground rent, if service charges have been paid in advance, the buyer owes you their share from the completion date onward.

Apportionments can work in either direction. If you have not yet paid a charge that covers the period up to completion, you may see a debit on your statement instead. The solicitor calculates all apportionments to the exact day.

How to check your completion statement

Checking your completion statement is straightforward if you approach it methodically. Here is what to verify against each line item.

Take 20 minutes to go through each line with a calculator. It is surprisingly common for small errors to creep in, and even a mistake of £200 is worth catching before the money is distributed.

Common errors to look for

While most solicitors prepare accurate completion statements, mistakes do happen. The most common errors sellers encounter are:

• Outdated mortgage redemption figure: If the redemption statement was obtained weeks before completion and the date has shifted, the figure may be too low or too high. Ask your solicitor to confirm they have a redemption figure valid for the actual completion date.
• Wrong estate agent fee percentage: Some agents charge different rates depending on whether it is a sole agency or multi-agency agreement. Check the percentage matches your signed terms of business.
• VAT omitted or double-counted: Estate agent fees and solicitor fees are subject to 20% VAT. Make sure VAT has been added once (not missed and not applied twice).
• Unexpected disbursements: Occasionally a disbursement appears that was not in the original quote -- for example, an indemnity insurance policy or an additional Land Registry search. Ask your solicitor to explain any charge you do not recognise.
• Incorrect apportionment calculations: Check that the daily rate used for council tax or service charge apportionments matches the actual annual or monthly figure. A small error in the daily rate multiplied across several days can produce a noticeable discrepancy.
• Missing deposit credit: The buyer's deposit should be accounted for on the statement. Confirm that the deposit amount matches what was agreed at exchange.

What to do if figures are wrong

If you spot an error on your completion statement, take the following steps:

1. Contact your solicitor immediately. Call them rather than email so the query is addressed quickly. Explain which figure you believe is incorrect and provide the evidence (your estate agent agreement, mortgage redemption statement, or original fee quote).
2. Ask for a revised statement. Your solicitor should issue a corrected completion statement once the error is confirmed. Do not agree to proceed with completion until you have a statement you are satisfied with.
3. Keep records. Note the date you raised the query and the solicitor's response. If the error affected the amount you received and was not corrected in time, you may have grounds for a complaint.
4. Escalate if necessary. If your solicitor does not address the issue, you can complain to the firm's complaints handler and, if unresolved, to the Legal Ombudsman (legalombudsman.org.uk) within six months of the complaint.

Most errors are genuine mistakes that solicitors correct promptly once flagged. The key is to check the statement early enough that there is time to fix any problems before completion day.

Completion statement vs solicitor's final bill

Sellers sometimes confuse the completion statement with the solicitor's final bill. They are related but distinct documents.

• Completion statement: A summary of the entire sale transaction showing all money in (sale price) and all money out (mortgage, agent fees, solicitor fees, disbursements). It is the master financial document for the transaction.
• Final bill (or invoice): An itemised breakdown of only your solicitor's charges. It shows their professional fee, each disbursement they paid on your behalf, VAT, and the total owed to them. This total then appears as a single line item on the completion statement.

You should receive both documents. The final bill gives you the detail behind the solicitor's fee line on the completion statement. If you want to query a specific charge, the final bill is where you will find the breakdown. For more on what solicitors charge and why, see our guide on solicitor fees for selling a house.

How Pine helps you prepare for completion

One of the biggest causes of delays and errors in the completion process is disorganised paperwork earlier in the transaction. When property information forms are incomplete, searches have not been ordered, or legal documents are missing, the entire process slows down -- and that can mean your mortgage redemption figure changes, apportionments shift, and your completion statement has to be revised repeatedly.

Pine helps sellers get their legal paperwork in order before they even list. By completing your TA6 and TA10 forms with guided AI support, ordering property searches at near-trade prices, and building a solicitor-ready legal pack early, you reduce the risk of last-minute complications that can affect your completion statement and delay your sale.

For a full overview of all the costs you will encounter, see our completion day costs guide.

Sources and further reading

• Solicitors Regulation Authority (SRA) -- Transparency Rules requiring solicitors to provide clear financial information to clients (sra.org.uk)
• The Law Society -- Conveyancing protocol, Standard Conditions of Sale (6th Edition), and guidance on completion statements (lawsociety.org.uk)
• HM Land Registry -- Official copy fees and title registration guidance (gov.uk)
• Legal Ombudsman -- How to complain about solicitor charges and service (legalombudsman.org.uk)
• HomeOwners Alliance -- Consumer guidance on understanding completion statements and seller costs (hoa.org.uk)
• Gov.uk -- Capital Gains Tax reporting for property disposals within 60 days (gov.uk)

Frequently asked questions