Exchange of contracts is the point in buying or selling a home in England when the buyer and seller swap signed copies of the contract, the sale becomes legally binding, and the completion date is confirmed.
What happens at exchange
GOV.UK's conveyancing guide says that once signed copies are swapped, "The agreement to sell and buy is then legally binding. Usually, neither of you can pull out at this point without paying compensation."
Buyers pay the deposit at exchange and insure the building from then, "because upon signing the contract you are legally responsible for the property". A buyer who withdraws "may lose your deposit"; a seller who does "may be liable for your costs and even compensation".
Exchange vs completion
Before exchange, a home is "sold subject to contract", and "not legally binding." Completion is when the money moves and the keys change hands, "often around 2-4 weeks later (though they can occur simultaneously)".
At Wigwam: booking storage around exchange
Our delayed-completion guide says: "Not exchanged contracts yet? Hold off on anything non-refundable until you have." Booked online without visiting? Clause 40 of our terms gives you "14 days after We confirm acceptance of Your order to change Your mind", with a refund "based on the length of storage You have taken" (see cooling-off period). Once you've exchanged, book against your completion date.
How far ahead you can book isn't settled: our quote pages say "You can book your unit up to 2 weeks in advance of your move-in date", our booking guide says "as far in advance as you like". Completion more than two weeks off? Call 0800 2545585 to ask whether we can hold your size.
The minimum stay is two weeks, then the agreement runs until you give written notice, normally 14 days (see rolling contract). The median (middle value) of the listed prices on our September 2026 price lists is about £78 per four weeks for 25 sq ft and £143 for 50 sq ft. Nothing is added at checkout: the total in your quote is what you pay, and our prices include VAT.
If you exchange and complete on the same day
Exchanging and completing the same day? Book as soon as you know: same-day move-in is possible "if the size you need is available".
If your completion date moves after you've booked
Our booking guide says "If your completion moves back a week, you simply move in a week later." Whether charges start on your booked date or your move-in day isn't established: call 0800 2545585 and ask before that date.
Related terms: Completion · Property chain · Bridging storage · Removals company
Related questions: What actually happens between exchange and completion · What happens after I book, and can I move in the same day? · Do I have to be there on moving-in day? · If the other side fails to complete, can you recover storage costs?