CML Disclosure of Incentives Form

 

Transitional arrangements following the introduction of the CML Disclosure of Incentives Form Version 2.1

As of 12 March 2012, builders/developers are required to fill out the updated version of the CML Disclosure of Incentives Form - Version 2.1. To avoid confusion, the previous version has been removed this webpage. We are aware that there will be pipeline transactions where the original version of the CML Disclosure of Incentives Form has been used. If the CML Disclosure of Incentives Form was first completed by the builder/developer on, or before, 11 March 2012, then this is acceptable and a new form will not need to be completed regardless of when the sale final completes. If you have any further questions regarding the CML Disclosure of Incentives Form Version 2.1, a Frequently Asked Questions document is available below.

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.

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.