UK Finance has today published a new disclosure form for residential conveyancing.
The new form replaces the disclosure of incentives form and can be completed by a property seller or developer.
It is designed to improve the flow of information to all parties involved in the mortgage process.
The new form should be provided to a lender’s solicitor, conveyancer and valuer on request.
It combines financial information about the sale of newly built, converted and renovated property transactions into a central place.
UK Finance director of mortgages Jackie Bennett says: “The arrival of the disclosure form is good news for consumers looking to buy a new home, creating a more transparent and efficient process for information to be exchanged between relevant parties involved in a residential mortgage transaction.”
The new form can be downloaded from the UK Finance website.