Exchange to Completion timescales

[OhWifey]

I know there might not be an answer to this but thought I'd ask anyway.

What's the norm in these current times regarding the timescale between exchange and completion? I mean in a non dramatic, straightforward chain / transaction.

I'd heard doing it the same day happened more often during Covid. The very idea makes for skyrocketing anxiety. Is this happening a lot still?

I was surprised at how quickly it was for me (in Scotland). Straightforward chain (three parties, two cash buyers) and it is taking 5.5 weeks. Completion is a week today

We exchanged Monday and completed Friday. Same day would be stressful as you are relying on the mortgage lender to release funds, if there are mortgages involved. 5 days was fine.

3 days at the request of the solicitor. Could have done same day.

This was going from rented to buying somewhere chain free with no mortgage required.

About a week or two is normal between Exchange and Completion. I would avoid Simultaneous if at all possible as it’s too stressful. In the past we’ve had a month between the two which was good but not always possible

I’ve only ever had a day for two between exchange and completion. Last was one 5 months ago. It never occurred to me that this wasn’t the norm.

The 'norm' would be whatever works for you, so I'd ask you what time to you need or want.

If you are buying with cash and don't need removal services then you will need much less time than someone whose funds need to be secured (ask whoever is providing your mortgage how long they need for your funds to be available ) and ask removals for their availability and at what stage in the process they are prepared to commit.

That gives you the minimum time you can agree then you see what anyone else in the chain needs.

Good luck.

They isn’t a set timescale, it’s whatever you agree, we have had two weeks, ten days, and exchange and completion the same day, in the past.

If you have a lot of packing to do, two weeks is easier too allow time to pack & clean etc.

Good luck with your move & wishing you happiness in your new home

About a week or two.
The norm used to be a month! It was because the mortgage companies needed that time (for what, who knows). But it's become shorter and shorter, probably due to the more advanced technology (mind you the conveyancing used to be much quicker - Back in the late 80s I saw a flat on Saturday and was ready to exchange the following Thursday, searches, survey, mortgage and the rest all done).
Many moving companies won't confirm a booking until you've exchanged, so at least a week is reasonable.
it's negotiated between the two parties - I requested two weeks and buyer agreed.

Yes as above the removals firms need a definite removals date before they will 100% confirm the booking and at that point they will also want a sizeable deposit.
So it’s better to Exchange at least a week before Completion so you can pay the deposit & get the removals date locked down.

The last time we bought we went for a two week gap, which worked well. This time we had 3.5 weeks, mainly because the vendor had messed us around so much we wanted him to be locked into a date, leaving us time to plan and get stuff booked ahead of completion. This was on the fifth attempt to exchange!

We did about two weeks and a half weeks, but that was at our request, as we wanted to coincide with the end of our rental month for ease. Could certainly have been quicker.

Thanks. This is what I thought and hoped - a variety based on people's needs and readiness. Removals are hard to find but I've managed to get one tentatively locked in thankfully, as we've all agreed a completion date in a couple of weeks but are not quite ready for exchange

Would never do simultaneous exchange and completion. If the other party pull out you are screwed. We've had 2 weeks on all of ours

When we first bought and sold over 40 years ago,it was 4 or 6 weeks. The last 2 have been 3 days.