CML Disclosure of Incentives Form
The purpose of the form is to draw all the relevant information about newly built, converted and renovated property transactions into a single form. This will improve transparency and simplify the flow of information to all key parties involved in the transaction.
Lenders, developers, valuers and solicitors/conveyancers have been involved in developing the form to ensure that the process is as simple as possible. To implement these the Royal Institution of Chartered Surveyors have made changes to the professional standards for valuers in the ‘Red Book’, lenders, via the Council of Mortgage Lenders (CML), have changed their instructions to solicitors/conveyancers, whilst the Home Builders Federation (HBF) and Homes For Scotland (HFS) have amended their Codes of Conduct.
We have been made aware of a scam that is designed to subvert the form by not disclosing a third party payment/finder's fee. The scam relies upon the manipulation of an 'option to buy' contract between a developer and a third party. The CML, HBF, HFS and RICS have amended the frequently asked questions document to encompass this. Our respective members have been alerted to this scam and we have contacted the Law Society and the Council of Licensed Conveyancers.Filling in the form electronically
The CML Disclosure of Incentives Form can be filled in electronically by typing into the fields available (please note that the signature requested at the end of the form cannot be completed electronically. When the form is finalised you will have to sign it by hand.)
To fill the form in electronically:
- Ensure you have Adobe Writer/Reader 8 or above. The latest Adobe Reader is available to download on Adobe’s website free of charge.
- Click on CML Disclosure of Incentives Form below to open the document. Click File and select Save As, save a copy to your network/computer and close the document.
- On you network/computer, find your saved version of the document. Open the document and fill in electronically. This filled in version can now be saved or printed.
- If you cannot fit the information into one of the fields please print form and fill in.
If you experience any problems using the electronic version of the CML Disclosure of Incentives Form please contact your IT department to check your Adobe version/settings.
The CML Disclosure of Incentives Form has been secured to ensure that the questions cannot be altered. This has been done so that the information received by lenders and their professional advisers remains consistent.
