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UK Finance launches new Disclosure Form for use in the sale of newly built or converted property
UK Finance (formerly the Council of Mortgage Lenders (CML)) released a new Disclosure Form (Version 1) on 21st February 2018, which replaces version 2.1 of the existing Disclosure of Incentives Form.
The Disclosure Form must be completed by the seller of any newly built property that is yet to be occupied or purchased for the first time or any existing property that has yet to be occupied in its current form (for example, a property that has been converted).
The Disclosure Form is designed to ensure that all financial and other key information relating to a transaction is contained in one place.
To this end, the scope of the form has been extended beyond incentives to include information such as tenure type, method of construction and ground rents. The information provided on the form will remain confidential between the parties to the transaction.
For more information on the background to the form and details of how to complete it, see UK Finance Disclosure Form: Background and Frequently asked questions.
