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FTB - Deposit Question

Hi everyone!
We have our mortgage approved and everything has finally gone through to valuation which is happening Monday!!!! Yea!!!!!!
We are currently tennants and so have asked for a completion date end of feb as this is when our term ends, which everyone is happy with.
Wednesday we will pay our search pack fees to the solicitor and start the ball rolling with them, my question is, do we pay the deposit on exchange of contracts or is it just before the completion date.
The house we are moving in was sold only 8 years ago so I can't imagine all the checks taking very long to go through!
Although saying all this I am a newbie to this game and don't know very much!!!!
Thanks xxxx

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