Back to previous page
Question: 6.4.4. Does the lender require me to report incentives?
| Lender | Answer |
|---|---|
| Accord Buy to Let |
Yes. If the purchase price does not reflect the cashback, incentives or discount then we may have to reconsider the basis of our lending. A completed copy of the UK Finance Disclosure of Incentives Form, also called the Disclosure Form (version 1), (the Form) should be obtained where the property is to be occupied for the first time, or for the first time in its current form, for example, because of a renovation or conversion. You should send the Form as soon as possible to Lending Shared Services, Accord Mortgages, Yorkshire House, Yorkshire Drive, Bradford BD5 8LJ. DX 11798 Bradford even if it does not disclose any incentives. You must not submit your Certificate of Title unless you have previously sent us the Form. |
| Accord Mortgages Ltd |
Yes. If the purchase price does not reflect the cashback, incentives or discount then we may have to reconsider the basis of our lending. A completed copy of the UK Finance Disclosure of Incentives Form, also called the Disclosure Form (version 1), (the Form) should be obtained where the property is to be occupied for the first time, or for the first time in its current form, for example, because of a renovation or conversion. You should send the Form as soon as possible to Lending Shared Services, Accord Mortgages, Yorkshire House, Yorkshire Drive, Bradford BD5 8LJ. DX 11798 Bradford even if it does not disclose any incentives. You must not submit your Certificate of Title unless you have previously sent us the Form. |
| Adam & Company |
Yes. You need to notify us of any of the incentives listed below. You must also inform us of the total value of the incentives. 5% builders deposits; payment of stamp duty and/or legal fees; payment of monthly mortgage or rental over 12-24 month period; holidays; cars; cashbacks. |
| Adam & Company International |
Yes. You need to notify us of any of the incentives listed below. You must also inform us of the total value of the incentives. 5% builders deposits; payment of stamp duty and/or legal fees; payment of monthly mortgage or rental over 12-24 month period; holidays; cars; cashbacks. |
| Aldermore Bank PLC |
Yes, full information regarding incentives, allowances or discounts must be disclosed on the UK Finance Disclosure of Incentives Form. Please submit the form at the earliest opportunity, otherwise completion could be delayed. In addition, you should also report details of all finders fees (whether or not the UK Finance Disclosure of Incentives Form applies) as they are not considered acceptable. A finders fee is a fee or commission paid by a seller to a third party (such as an investment club) for finding or introducing a buyer. It does not include the normal fee or commission payable to any estate agent handling the sale. Where the property is not a new build being sold by the developer, you must notify us if any deposit is to be paid by the seller. |
| Allied Irish Bank (GB), a trading name of AIB Group (UK) | Yes, refer to AIB Group (UK) plc, Central Securities (GB), 92 Anne Street, Belfast, BT1 3H |
| Atom Bank plc |
No, unless the value of cash incentives stated exceed : - Those stated by the valuer in the valuation report (which you are provided a copy of) Those confirmed within the offer 5% of the purchase price The following incentives do not need to be disclosed to us:- White goods (where not included as standard specification); Carpets and Curtains; Kitchen upgrades (including tiling and worktops); Bathroom upgrades; Electric upgrades - i.e. additional sockets, TV points, etc.; and Turf and landscaping You must also complete a CML Disclosure of Incentives Form. By sending the Certificate of Title to us you are confirming you are in receipt of this form. |
| Aviva Equity Release UK Ltd | Yes |
| Bank of China | Yes |
| Bank of Ireland (UK) plc | You must send us the CML Disclosure of Incentives Form. You must also advise us if other incentives are agreed subsequently. |
| Bank of Ireland as Bank of Ireland Mortgages | You must send us the CML Disclosure of Incentives Form. You must also advise us if other incentives are agreed subsequently. |
| Bank of Scotland Beginning A |
You should report details of all cash/financial incentives to Bank of Scotland Plc, Mortgage Operations, Pentland House, 8 Lochside Avenue, Edinburgh, EH12 9DJ. Tel: 0345 603 1136 Fax: 0131 339 2366 in the following circumstances:- Where the value of cash incentives is 10% or more greater than the value set out in the Further Conditions section of the Mortgage Offer; or Where no details are set out in the Mortgage Offer, whenever any cash/financial incentives adds up to a sum greater than 5% of the purchase price. You should only report details of all cash/financial incentives where these add up to a sum which is greater than 5% of the purchase price. In addition, you should report details of all non-financial/in-kind incentives other than those fixed or fitted to the property. For example, we would expect a new car incentive to be reported but not a higher specification kitchen or bathroom, carpets and curtains, white goods, electric upgrades or turf and landscaping. Do not send a copy of the form unless we specifically request it. In all other cases you must report to Bank of Scotland Plc, Pentland House, 8 Lochside Avenue, Edinburgh, EH12 9DJ Fax no. 0131 339 2366 In addition, you should also report details of all finders fees (whether or not the CML Disclosure of Incentives Form applies) as they are not considered acceptable. A finders fee is a fee or commission paid by a seller to a third party (such as an invest club) for finding or introducing a buyer. It does not include the normal fee or comission payable to any estate agent handling the sale. Where the property is not a new build being sold by the developer, you must notify us if the deposit is to be paid by the seller. Do not send a copy of the CML Disclosure of Incentives Form unless we specifically request it In addition, you should also report details of all finders fees (whether or not the CML Disclosure of Incentives Form applies) as they are not considered acceptable. A finders fee is a fee or commission paid by a seller to a third party (such as an investment club) for finding or introducing a buyer. It does not include the normal fee or commission payable to any estate agent handling the sale. Where the property is not a new build being sold by the developer, you must notify us if the deposit is to be paid by the seller. |
| Bank of Scotland Beginning O |
You should only report details of all cash/financial incentives where these add up to a sum which is greater than 5% of the purchase price. You should only report details of all cash/financial incentives where these add up to a sum which is greater than 5% of the purchase price. In addition, you should report details of all non-financial/in-kind incentives other than those fixed or fitted to the property. For example, we would expect a new car incentive to be reported but not a higher specification kitchen or bathroom, carpets and curtains, white goods, electric upgrades or turf and landscaping. Do not send a copy of the form unless we specifically request it. In all other cases you must report to Bank of Scotland Plc, Pentland House, 8 Lochside Avenue, Edinburgh, EH12 9DJ Fax no. 0131 339 2366 In addition, you should also report details of all finders fees (whether or not the CML Disclosure of Incentives Form applies) as they are not considered acceptable. A finders fee is a fee or commission paid by a seller to a third party (such as an invest club) for finding or introducing a buyer. It does not include the normal fee or comission payable to any estate agent handling the sale. Where the property is not a new build being sold by the developer, you must notify us if the deposit is to be paid by the seller. Do not send a copy of the form to us unless we specifically request it. In all other cases you must report to Ground Floor, Ettrick House, 37 South Gyle Crescent, Edinburgh, EH12 9DS. Fax 0131 452 3869/3872. In addition, you should also report details of all finders fees (whether or not the CML Disclosure of Incentives Form applies) as they are not considered acceptable. A finders fee is a fee or commission paid by a seller to a third party (such as an investment club) for finding or introducing a buyer. It does not include the normal fee or commission payable to any estate agent handling the sale. |
| Barclays Bank UK PLC |
Residential: There is no restriction on the value of any incentives, such as cashback, or the payment of a deposit offered by builders, vendors or developers provided that the deposit/cashback does not have to be repaid and the builder does not intend to register a charge against the property. The borrower must provide at least a 5% personal stake (based on the lower of valuation or purchase price) You need only report incentives where these requirements are not met. You are not required to send us a copy of the Disclosure of Incentives Form (DIF). Buy to let: There is no restriction on the value of any incentives, such as cashback, or the payment of a deposit offered by builders, vendors or developers provided that providing the deposit/cashback does not have to be repaid and the builder does not intend to register a charge against the property. The borrower must provide at least a 25% personal stake (based on the lower of valuation or discounted purchase price less any builder/vendor incentives) e.g. where the full purchase price and valuation is £100,000 and the builder / vendor is providing a £5,000 cash incentive the applicant must provide a minimum of £23,750 (25% of £95,000) from their own resources towards the purchase; therefore, the maximum advance in this scenario would be £71,250 (75% of £95,000). You need only report incentives where these requirements are not met. In all instances, where there is an incentive (financial or non-financial) being offered, the applicant(s) must provide full details of the type and amount as part of the application submission and all such incentives must be declared to the valuer on the UK Finance Disclosure form, in order that they can be taken into account when valuing the property. You are not required to send us a copy of the Disclosure of Incentives Form (DIF). |
| Birmingham Midshires |
You should report details of all cash/financial incentives in the following circumstances: Where the value of the cash incentives is 10% or more greater than the value set out in the Special Conditions section of the Mortgage Offer; or Where no details are set out in the Mortgage Offer, whenever any cash/financial incentives are being paid by the seller. You should only report details of all cash/financial incentives where these add up to a sum which is greater than 5% of the purchase price. In addition, you should report details of all non-financial/in-kind incentives other than those fixed or fitted to the property. For example, we would expect a new car incentive to be reported but not a higher specification kitchen or bathroom, carpets and curtains, white goods, electric upgrades or turf and landscaping. Do not send a copy of the form unless we specifically request it. In all other cases you must report to Bank of Scotland Plc, Pentland House, 8 Lochside Avenue, Edinburgh, EH12 9DJ Fax no. 0131 339 2366 In addition, you should also report details of all finders fees (whether or not the CML Disclosure of Incentives Form applies) as they are not considered acceptable. A finders fee is a fee or commission paid by a seller to a third party (such as an invest club) for finding or introducing a buyer. It does not include the normal fee or comission payable to any estate agent handling the sale. Where the property is not a new build being sold by the developer, you must notify us if the deposit is to be paid by the seller. Do not send a copy of the CML Disclosure of Incentives Form unless we specifically request it. In addition, you should also report details of all finders fees (whether or not the CML Disclosure of Incentives Form applies) as they are not considered acceptable. A finders fee is a fee or commission paid by a seller to a third party (such as an investment club) for finding or introducing a buyer. It does not include the normal fee or commission payable to any estate agent handling the sale. Where the property is not a new build being sold by the developer, you must notify us if the deposit is to be paid by the seller. |
| Bluestone Mortgages | Yes |
| Bradford & Bingley Limited |
Yes, including when remortgaging a recently purchased new build we require full details of all incentives offered, these may affect the amount we are able to lend. |
| Britannia, a trading name of The Co-operative Bank plc |
Yes, at the earliest possible opportunity. Please note that if this form is submitted with the Certificate of Title completion could be delayed. |
| Chelsea Building Society (a trading name of Yorkshire BS) |
Yes. You must inform whoever issued the offer/instructions if you are aware of any allowances, incentives, discounts and direct payments. If the purchase price does not reflect the cashback, incentives or discount, then we may have to reconsider the basis of our lending. A completed copy of the UK Finance Disclosure of Incentives Form, also known as the Disclosure Form (version 1), (the Form) should be obtained where the property is to be occupied for the first time or for the first time in its current form, for example because of a renovation or conversion. You should send the Form as soon as possible to whoever issued the offer/instructions even if it does not disclose any incentives. You must not submit your Certificate of Title unless you have previously sent us the Form. |
| Clydesdale Bank plc |
Yes, unless it is: • a builder or vendor cash/financial incentive in relation to the purchase of a new build property and the value of cash incentives is no greater than 5% of the lower of the purchase price or valuation stated in the offer and the loan amount (excluding fees added to the mortgage) is no greater than 90% of the lower of the purchase price or valuation stated in the offer; or • a builder or vendor non-cash/non-financial incentive for fixtures, fittings or white goods in relation to the purchase of a new build property. Cash/financial incentives include but are not limited to cashback deals, stamp duty / land and buildings tax contributions, payment of fees to professionals (e.g. solicitors, surveyors), rental payment guarantees, gifted deposits. Non-cash/non-financial incentive for fixtures, fittings or white goods include but are not limited to carpets, curtains, kitchen upgrades, bathroom upgrades, electrical upgrades, turf, landscaping. |
| Co-operative Bank plc |
Yes, at the earliest possible opportunity. Please note that if this form is submitted with the Certificate of Title, completion could be delayed. |
| Coutts |
Yes. You need to notify us of any of the incentives listed below. You must also inform us of the total value of the incentives. 5% builders deposits; payment of stamp duty and/or legal fees; payment of monthly mortgage or rental over 12-24 month period; holidays; cars; cashbacks. |
| Coventry Building Society |
Yes - via the Disclosure of Incentives Form. |
| Darlington Building Society |
Yes - Please report all incentives, allowances or discounts to: Principal Office: Customer Support Department Sentinel House Morton Road Darlington DL1 4PT Please state the value of these and the purchase price paid. |
| DB UK Bank Ltd |
Yes db mortgages PO Box 890 Newport NP20 9LZ Tel: 0845 650 6281 DX Address - not available |
| Ecology Building Society | Yes |
| First Direct |
All incentives must be reported to us. You must also complete a UK Finance Disclosure of Incentives Form which the valuer will require. On sending the Certificate of Title you are confirming you are in receipt of this form |
| Foundation Home Loans |
Yes. Please send us the UK Finance Disclosure of Incentives Form - fully completed as soon as possible . Where the property is not a new build being sold by the developer, you must notify us if the deposit is to be paid by the seller. In addition, you should report details of all finders fees (whether or not the UK Finance Disclosure of Incentives form applies) as they are not considered acceptable. A finders fee is a fee or commission paid (in cash or kind) by a seller to a third party (such as an investment club) for finding or introducing a buyer. It does not include the normal fee or commission payable to any estate agent handling the sale. PLEASE NOTE: Payment of the premium for chancel repair liability and/or defective title insurance is not considered to be an incentive required to be reported. In all other cases, the incentive must be reported to us. |
| Furness Building Society | Yes |
| GE Money Home Lending Ltd | GE Money Home Lending has withdrawn from the UK mortgage market. |
| Godiva Mortgages Ltd |
Yes - via the Disclosure of Incentives Form. |
| Halifax |
You should report details of all cash/financial incentives to the Customer Service Centre (see offer for address and fax number) in the following circumstances:- Where the value of cash incentives is 10% or more greater than the value set out in the Further Conditions section of the Mortgage Offer; or Where no details are set out in the Mortgage Offer, whenever any cash/financial incentives are being paid by the vendor. You should only report details of all cash/financial incentives where these add up to a sum which is greater than 5% of the purchase price. In addition, you should report details of all non-financial/in-kind incentives other than those fixed or fitted to the property. For example, we would expect a new car incentive to be reported but not a higher specification kitchen or bathroom, carpets and curtains, white goods, electric upgrades or turf and landscaping. Do not send a copy of the form unless we specifically request it. In all other cases you must report to Bank of Scotland Plc, Pentland House, 8 Lochside Avenue, Edinburgh, EH12 9DJ Fax no. 0131 339 2366 In addition, you should also report details of all finders fees (whether or not the CML Disclosure of Incentives Form applies) as they are not considered acceptable. A finders fee is a fee or commission paid by a seller to a third party (such as an invest club) for finding or introducing a buyer. It does not include the normal fee or comission payable to any estate agent handling the sale. Where the property is not a new build being sold by the developer, you must notify us if the deposit is to be paid by the seller. Do not send a copy of the CML Disclosure of Incentives Form unless we specifically request it In addition, you should also report details of all finders fees (whether or not the CML Disclosure of Incentives Form applies) as they are not considered acceptable. A finders fee is a fee or commission paid by a seller to a third party (such as an invest club) for finding or introducing a buyer. It does not include the normal fee or commission payable to any estate agent handling the sale. Where the property is not a new build being sold by the developer, you must notify us if the deposit is to be paid by the vendor. |
| Halifax Loans Ltd |
You should only report details of all cash/financial incentives where these add up to a sum which is greater than 5% of the purchase price. You should only report details of all cash/financial incentives where these add up to a sum which is greater than 5% of the purchase price. In addition, you should report details of all non-financial/in-kind incentives other than those fixed or fitted to the property. For example, we would expect a new car incentive to be reported but not a higher specification kitchen or bathroom, carpets and curtains, white goods, electric upgrades or turf and landscaping. Do not send a copy of the form unless we specifically request it. In all other cases you must report to Bank of Scotland Plc, Pentland House, 8 Lochside Avenue, Edinburgh, EH12 9DJ Fax no. 0131 339 2366 In addition, you should also report details of all finders fees (whether or not the CML Disclosure of Incentives Form applies) as they are not considered acceptable. A finders fee is a fee or commission paid by a seller to a third party (such as an invest club) for finding or introducing a buyer. It does not include the normal fee or comission payable to any estate agent handling the sale. Where the property is not a new build being sold by the developer, you must notify us if the deposit is to be paid by the seller. In all other cases, you must report to HLL as of 1.11a. |
| Hampden & Co. plc | Yes. |
| Handelsbanken | Yes. |
| Hodge | Yes. A completed and signed copy of the UK Disclosure of Incentives Form must be obtained in the circumstances listed in Part 1. You must send a copy of the completed UK Disclosure of Incentives Form to the Mortgage Lending Department (as per 1.11a), as soon as possible, even if there are no incentives to disclose. You must not submit your Certificate of Title until you have sent us the completed CML Disclosure of Incentives Form. |
| Hodge Equity Release |
Yes. A completed and signed copy of the UK Finance/CML Disclosure of Incentives Form must be obtained in the circumstances listed in Part 1. You must send a copy of the completed UK Finance/CML Disclosure of Incentives Form to our post offer team (as per 1.11a), as soon as possible, even if there are no incentives to disclose. You must not submit your Certificate of Title until you have sent us the completed UK Finance/CML Disclosure of Incentives Form. You must also refer to the Law Society’s Mortgage Fraud Practice note regarding allowances, incentives and discounts when considering. |
| HSBC UK Bank plc | All incentives must be reported to us. You must also complete a UK Finance Disclosure of Incentives Form which the valuer will require. On submitting the Certificate of Title, you are confirming you are in receipt of this form. |
| HSMS |
Joint names unless the property is leasehold and the lease provides for the landlords to insure, in which case our interest must be noted. |
| Intelligent Finance |
You should only report details of all cash/financial incentives where these add up to a sum which is greater than 5% of the purchase price. You should only report details of all cash/financial incentives where these add up to a sum which is greater than 5% of the purchase price. In addition, you should report details of all non-financial/in-kind incentives other than those fixed or fitted to the property. For example, we would expect a new car incentive to be reported but not a higher specification kitchen or bathroom, carpets and curtains, white goods, electric upgrades or turf and landscaping. Do not send a copy of the form unless we specifically request it. In all other cases you must report to Bank of Scotland Plc, Pentland House, 8 Lochside Avenue, Edinburgh, EH12 9DJ Fax no. 0131 339 2366 In addition, you should also report details of all finders fees (whether or not the CML Disclosure of Incentives Form applies) as they are not considered acceptable. A finders fee is a fee or commission paid by a seller to a third party (such as an invest club) for finding or introducing a buyer. It does not include the normal fee or comission payable to any estate agent handling the sale. Where the property is not a new build being sold by the developer, you must notify us if the deposit is to be paid by the seller. .) In addition, you should also report details of all finders fees (whether or not the CML Disclosure of Incentives Form applies) as they are not considered acceptable. A finders fee is a fee or commission paid by a seller to a third party (such as an investment club) for finding or introducing a buyer. It does not include the normal fee or commission payable to any estate agent handling the sale. |
| ITL Mortgages | Yes - via the Disclosure of Incentives Form. |
| Kensington Mortgage Company Ltd |
Yes, all incentives must be reported to : Kensington Mortgages, New Business Operations Centre, Ascot House, Maidenhead Office Park, Maidenhead, SL6 3QQ. Tel: 03444 990011 Fax: 03444 990022. Any such arrangement may lead to the mortgage offer being withdrawn or amended. |
| Landbay Partners Limited | Yes. Please forward to us the UK Finance Disclosure of Incentives form fully completed. |
| Landmark Mortgages Limited | Yes. |
| Leeds Building Society |
Yes. A completed and signed copy of the UK Finance Disclosure Form (“DIF”) must be obtained in the circumstances listed in Part 1. You must send a copy of the completed UK Finance Disclosure Form to the Mortgage Lending Department (as per 1.11a), as soon as possible where any of the following apply: · Where the value of any financial incentive is more than 5% of the property value or purchase price (whichever is lower). · There is a part exchange included as part of the incentives (section 8a of the DIF). · Finders fees have been declared (section 6 of the DIF). Non-financial incentives do not need to be included. You must not submit your Certificate of Title until you have sent us the completed UK Finance Disclosure Form. You must also refer to the Law Society's Mortgage Fraud Practice note regarding allowances, incentives and discounts when considering these. |
| Legal & General Home Finance Ltd | Yes, there is a requirement to report all incentives unless such incentives have been revealed on the valuation report. |
| LendInvest | Yes, at the earliest possible opportunity. Please note that if this form is submitted with the Certificate of Title completion could be delayed. |
| LiveMore Capital | Yes, full information regarding incentives, allowances or discounts must be disclosed on the UK Finance Disclosure Form and reported to us at the address shown in 1.11a |
| Lloyds Bank plc pre fixed 40 |
You should report details of all cash/financial incentives in the following circumstances: Where the value of the cash incentives is 10% or more greater than the value set out in the Further Conditions section of the Mortgage Offer; or Where no details are set out in the Mortgage Offer, whenever any cash/financial incentives are being paid by the seller. You should only report details of all cash/financial incentives where these add up to a sum which is greater than 5% of the purchase price. In addition, you should report details of all non-financial/in-kind incentives other than those fixed or fitted to the property. For example, we would expect a new car incentive to be reported but not a higher specification kitchen or bathroom, carpets and curtains, white goods, electric upgrades or turf and landscaping. Do not send a copy of the form unless we specifically request it. In all other cases you must report to Bank of Scotland Plc, Pentland House, 8 Lochside Avenue, Edinburgh, EH12 9DJ Fax no. 0131 339 2366 In addition, you should also report details of all finders fees (whether or not the CML Disclosure of Incentives Form applies) as they are not considered acceptable. A finders fee is a fee or commission paid by a seller to a third party (such as an invest club) for finding or introducing a buyer. It does not include the normal fee or comission payable to any estate agent handling the sale. Where the property is not a new build being sold by the developer, you must notify us if the deposit is to be paid by the seller. Do not send a copy of the CML Disclosure of Incentives Form unless we specifically request it. In addition, you should also report details of all finders fees (whether or not the CML Disclosure of Incentives Form applies) as they are not considered acceptable. A finders fee is a fee or commission paid by a seller to a third party (such as an investment club) for finding or introducing a buyer. It does not include the normal fee or commission payable to any estate agent handling the sale. Where the property is not a new build being sold by the developer, you must notify us if the deposit is to be paid by the seller. |
| Lloyds Bank plc pre fixed 50 |
You should report details of all cash/financial incentives in the following circumstances: Where the value of the cash incentives is 10% or more greater than the value set out in the Further Conditions section of the Mortgage Offer; or Where no details are set out in the Mortgage Offer, whenever any cash/financial incentives are being paid by the seller. You should only report details of all cash/financial incentives where these add up to a sum which is greater than 5% of the purchase price. In addition, you should report details of all non-financial/in-kind incentives other than those fixed or fitted to the property. For example, we would expect a new car incentive to be reported but not a higher specification kitchen or bathroom, carpets and curtains, white goods, electric upgrades or turf and landscaping. Do not send a copy of the form unless we specifically request it. In all other cases you must report to Bank of Scotland Plc, Pentland House, 8 Lochside Avenue, Edinburgh, EH12 9DJ Fax no. 0131 339 2366 In addition, you should also report details of all finders fees (whether or not the CML Disclosure of Incentives Form applies) as they are not considered acceptable. A finders fee is a fee or commission paid by a seller to a third party (such as an invest club) for finding or introducing a buyer. It does not include the normal fee or comission payable to any estate agent handling the sale. Where the property is not a new build being sold by the developer, you must notify us if the deposit is to be paid by the seller. Do not send a copy of the CML Disclosure of Incentives Form unless we specifically request it. In addition, you should also report details of all finders fees (whether or not the CML Disclosure of Incentives Form applies) as they are not considered acceptable. A finders fee is a fee or commission paid by a seller to a third party (such as an investment club) for finding or introducing a buyer. It does not include the normal fee or commission payable to any estate agent handling the sale. Where the property is not a new build being sold by the developer, you must notify us if the deposit is to be paid by the seller. |
| Lloyds TSB Scotland plc |
You should report details of all cash/financial incentives in the following circumstances: Where the value of the cash incentives is 10% or more greater than the value set out in the Further Conditions section of the Mortgage Offer; or Where no details are set out in the Mortgage Offer, whenever any cash/financial incentives are being paid by the seller. You should only report details of all cash/financial incentives where these add up to a sum which is greater than 5% of the purchase price. In addition, you should report details of all non-financial/in-kind incentives other than those fixed or fitted to the property. For example, we would expect a new car incentive to be reported but not a higher specification kitchen or bathroom, carpets and curtains, white goods, electric upgrades or turf and landscaping. Do not send a copy of the form unless we specifically request it. In all other cases you must report to Bank of Scotland Plc, Pentland House, 8 Lochside Avenue, Edinburgh, EH12 9DJ Fax no. 0131 339 2366 In addition, you should also report details of all finders fees (whether or not the CML Disclosure of Incentives Form applies) as they are not considered acceptable. A finders fee is a fee or commission paid by a seller to a third party (such as an invest club) for finding or introducing a buyer. It does not include the normal fee or comission payable to any estate agent handling the sale. Where the property is not a new build being sold by the developer, you must notify us if the deposit is to be paid by the seller. Do not send a copy of the CML Disclosure of Incentives Form unless we specifically request it. In addition, you should also report details of all finders fees (whether or not the CML Disclosure of Incentives Form applies) as they are not considered acceptable. A finders fee is a fee or commission paid by a seller to a third party (such as an investment club) for finding or introducing a buyer. It does not include the normal fee or commission payable to any estate agent handling the sale. Where the property is not a new build being sold by the developer, you must notify us if the deposit is to be paid by the seller. |
| M&S Bank | All incentives must be reported to us. You must also complete a UK Finance Disclosure of Incentives Form which will be referred to the valuer. On sending the Certificate of Title you are confirming you are in receipt of this form |
| Magellan Homeloans | Yes please disclose all details you consider appropriate including but not limited to the nature and amount of incentives, all cash and financial incentives including any fees or commission paid by the seller to a third party and the deposit paid by the seller. |
| Masthaven Bank | Yes. |
| Metro Bank Plc | Yes |
| Mortgage Agency Services | Yes, at the earliest possible opportunity. Please note that if this form is submitted with the Certificate of Title completion could be delayed. |
| Mortgage Express |
Yes,including when remortgaging a recently purchased new build we require full details of all incentives offered, these may affect the amount we are able to lend. |
| Mortgage Express No 2 |
Yes |
| National Westminster Bank plc | Yes. You need to notify us of any incentives detailed on the UK Finance Disclosure Form totalling more than 5% of the purchase price. Please do not send the form to us, even if only for information purposes. We do not need to see this form. |
| Nationwide Building Society |
Yes – advise the Issuing Office as follows: Standard purchase applications: All financial incentives declared in Section 7 of the UK Finance Disclosure Form (i.e. builders cashbacks, deposit paid and any other financial incentives) should be added together to calculate the total value of financial incentives. Where the total value of financial incentives is less than 5% of the purchase price, don’t report to us. Where it’s more than 5%, tell us the total value and specifically state whether it’s: - More than 5% but less than or equal to 15% of the purchase price – the offer is likely to be affected and if so we’ll advise you - More than 15% of the purchase price – the case will be declined. Equity loan applications (e.g. Help to Buy): Builder cashback and deposit paid are unacceptable on new build equity loan applications and if declared on the UKF DF please report to us and the case will be declined. All other financial incentives should be added together to calculate the total value. - Where the total value is less than 5% of the purchase price (and doesn’t include builder cashback or deposit paid), don’t report to us. - Where the total value is more than 5% (or includes builder cashback or deposit paid) – report to us and the case will be declined. Please also report to us if it becomes apparent the source of deposit is not a family gift and/or from the applicants' own resources. Non-Financial Incentives: Only incentives for fixtures and fittings within the property will be considered by Nationwide as non-financial incentives. For example, kitchen upgrades, fitted appliances, flooring, garden landscaping etc. Anything else should be considered as a financial incentive (for example, all vouchers, vehicles, holidays etc). |
| Nedbank Private Wealth Ltd | Yes. |
| New Street Mortgages |
Yes, all incentives must be reported to New Street Mortgages, PO Box 4761, Maidenhead, SL60 1HW. Tel: 0333-300-3100, Fax: 0333-300-3132 email: enquiries@newstreetmortgages.com Any such arrangement may lead to the mortgage offer being withdrawn or amended |
| NRAM Ltd | Yes |
| Paragon Buy to Let Mortgages | Yes. You must provide the UK Finance Disclosure of Incentives form to us, prior to submission of your ROT. See also our Supplemental Instructions and Guidance Notes. |
| Platform (a trading name of The Co-operative Bank p.l.c.) |
Yes, at the earliest possible opportunity. Please note that if this form is submitted with the Certificate of Title completion could be delayed. |
| Precise Mortgages (Charter Court Financial Services Ltd) |
Yes. Contact the Completions Team at the address stated in the Mortgage Offer/Instructions. All forms of cash/financial incentives are not acceptable unless a family gift for non-family member's property. Any incentive must be deducted from the lower of the purchase price/valuation and LTV will be calculated from this new figure. Unacceptable incentives include builders' deposits (with the exception of up to a maximum of 5% of the purchase price of residential property only), vendor's deposit, discounted purchase price and purchase from a company in which the customer(s) has an interest. Gifted Family deposit Where there is a gifted family deposit of less than £20,000, you must obtain and send to us a deed of gift form or letter, addressed either to you, or to the borrower’s solicitors in a separate representation case, and signed by the deposit giver/each individual family member(s) gifting the deposit which confirms the following information: • The name and address of the family member gifting the deposit • Their relationship to the borrower(s) • The name and current address of the borrower(s) • The address of the property being purchased • The amount being gifted and the source of the funds • That the gift is not repayable and the family member(s) providing the gift will not acquire an interest in the property • The letter must be dated within the 3 months before completion In all cases, the deposit giver(s) must be resident within the UK or EEA and will not acquire a proprietary interest in the property, or any right to reside in it, and you must ensure clear bankruptcy searches are carried out against the borrower and all parties contributing to the balance of the purchase price. You must notify us if you cannot obtain clear searches. You must also ensure that any appropriate deed of gift indemnity insurance is put in place. You must continue to report a gifted deposit from a family member who is also the Vendor. In addition, you should also report details of all finders fees (whether or not the CML Disclosure of incentives Form applies) as they are not considered acceptable. A finders fee is a fee or commission paid by a seller to a third party (such as a property investment club) for finding or introducing a buyer. It does not include the normal fee or commission payable to any estate agent handling the sale. For New Build (previously unoccupied) properties, the conveyancer will be required to obtain a completed CML Disclosure of Incentives Form (DIF). Where applicable, the underwriter must consider these details to ensure that there is no effect on the Offer provided. |
| Rooftop Mortgages Ltd | Yes |
| Sainsbury's Bank | Yes, please report to the contact point detailed in 1.11a |
| Santander UK plc |
The conveyancer does not need to report sales incentives to us if the seller is a developer and the incentive is a cash incentive not exceeding 5% of the purchase price and/or payment of legal fees and/or stamp duty land tax in respect of the purchase. Standard specifications offered on the property , including the provision of carpets, curtains, additional white goods or better quality fixtures and fittings that are in keeping with the value of the property are not required to be reported. In all other cases, the incentive must be reported to us. We do not knowingly accept applications where the proposed security is purchased by, from or through a Property Investment Club. If you become aware of such connection, or situations where a finder?s fee (that is, a fee or commission paid by the seller to a third party (such as a Property Investment Club) for finding or introducing the borrower) has or is to be paid, please report to the Mortgage Operations office with your knowledge of the position and full details relating to it. Do not proceed with the application but await further instructions. |
| Scottish Building Society | All incentives being offered should be immediately reported to the Area Office of Scottish Building Society that issued mortgage offer, as these may affect the amount that can be borrowed. Please do not send the Disclosure of Incentives Form unless we specifically request it. |
| Scottish Widows Bank | Yes. A copy of the CML Disclosure of Incentives Form is to be submitted to the Bank for approval prior to missives being concluded. |
| Skipton Building Society | Yes |
| St James Place Bank |
You should only report details of all cash/financial incentives where these add up to a sum which is greater than 5% of the purchase price. In addition, you should report details of any non-financial/in-kind incentives other than those relating to fixtures or fittings in the property. For example, we would expect a new car incentive to be reported but not a higher specification kitchen. In all other cases, you must report to Mortgage Administration, St. James's Place Bank, PO Box 1869, Livingston EH54 7XS. In addition, you should also report details of all finders fees (whether or not the CML Disclosure of Incentives Form applies) as they are not considered acceptable. A finders fee is a fee or commission paid by a seller to a third party (such as an investment club) for finding or introducing a buyer. It does not include the normal fee or commission payable to any estate agent handling the sale. |
| The Mortgage Business |
You should only report details of all cash/financial incentives where these add up to a sum which is greater than 5% of the purchase price. You should only report details of all cash/financial incentives where these add up to a sum which is greater than 5% of the purchase price. In addition, you should report details of all non-financial/in-kind incentives other than those fixed or fitted to the property. For example, we would expect a new car incentive to be reported but not a higher specification kitchen or bathroom, carpets and curtains, white goods, electric upgrades or turf and landscaping. Do not send a copy of the form unless we specifically request it. In all other cases you must report to Bank of Scotland Plc, Pentland House, 8 Lochside Avenue, Edinburgh, EH12 9DJ Fax no. 0131 339 2366 In addition, you should also report details of all finders fees (whether or not the CML Disclosure of Incentives Form applies) as they are not considered acceptable. A finders fee is a fee or commission paid by a seller to a third party (such as an invest club) for finding or introducing a buyer. It does not include the normal fee or comission payable to any estate agent handling the sale. Where the property is not a new build being sold by the developer, you must notify us if the deposit is to be paid by the seller. In addition, you should also report details of all finders fees (whether or not the CML Disclosure of Incentives Form applies) as they are not considered acceptable. A finders fee is a fee or commission paid by a seller to a third party (such as an investment club) for finding or introducing a buyer. It does not include the normal fee or commission payable to any estate agent handling the sale. |
| The Mortgage Lender Limited |
Yes, full information regarding incentives, allowances or discounts must be disclosed on the UK Finance Disclosure of Incentives Form. A completed copy of the UK Finance Disclosure of Incentives Form (the Form) should be obtained in the circumstances where the property is to be occupied for the first time or for the first time in its current form, for example, because of a renovation or conversion. You should send the Form as soon as possible to the following email address - Completions@themortgagelender.com. You must not submit your Certificate of Title unless you have previously sent us the Form. |
| The Mortgage Works | Yes |
| The Royal Bank of Scotland plc | Yes. You need to notify us of any incentives detailed on the UK Finance Disclosure Form totalling more than 5% of the purchase price. Please do not send the form to us, even if only for information purposes. We do not need to see this form. |
| The Royal Bank of Scotland plc Direct Line Mortgages | Yes. You need to notify us of any incentives detailed on the CML Disclosure of Incentives Form. You must also inform us of the total value of the incentives. |
| The Royal Bank of Scotland plc Direct Line One | Yes. You need to notify us of any incentives detailed on the CML Disclosure of Incentives Form. You must also inform us of the total value of the incentives. |
| The Royal Bank of Scotland plc First Active | Yes. You need to notify us of any incentives detailed on the CML Disclosure of Incentives Form. You must also inform us of the total value of the incentives. |
| The Royal Bank of Scotland plc Natwest one Account | Yes. You need to notify us of any incentives detailed on the CML Disclosure of Incentives Form. You must also inform us of the total value of the incentives. |
| The Royal Bank of Scotland plc One Account | Yes. You need to notify us of any incentives detailed on the CML Disclosure of Incentives Form. You must also inform us of the total value of the incentives. |
| The Royal Bank of Scotland plc Virgin One | Yes. You need to notify us of any incentives detailed on the CML Disclosure of Incentives Form. You must also inform us of the total value of the incentives. |
| Topaz Finance Ltd | Yes and you should report any discounts, allowances, cashbacks or vendor deposits i.e. where the deposit is provided by the vendor. address and telephone number on Offer of Advance. |
| TSB Bank plc |
You should report details of all cash/financial incentives in the following circumstances: Where the value of the cash incentives is 5% or more greater than the value set out in the Further Conditions section of the Mortgage Offer; or Where no details are set out in the Mortgage Offer, whenever any cash/financial incentives are being paid by the seller. In addition, you should report details of any non financial/in-kind incentives other than those relating to fixtures or fittings in the property. For example, we would expect a new car incentive to be reported but not a higher specification kitchen. Do not send a copy of the UKF Disclosure of Incentives Form unless we specifically request it. In addition, you should also report details of all finders fees (whether or not the UKF Disclosure of Incentives Form applies) as they are not considered acceptable. A finders fee is a fee or commission paid by a seller to a third party (such as an investment club) for finding or introducing a buyer. It does not include the normal fee or commission payable to any estate agent handling the sale. Where the property is not a new build being sold by the developer, you must notify us if the deposit is to be paid by the seller. |
| UCB Home Loans Corporation Ltd | Yes |
| Ulster Bank | Yes. You need to notify us of any incentives detailed on the UK Finance Disclosure Form totalling more than 5% of the purchase price. Please do not send the form to us, even if only for information purposes. We do not need to see this form. |
| Vida Homeloans | Yes. As 1.11a, full information regarding incentives, allowances or discounts must be disclosed on the CML Disclosure of Incentives Form. |
| Virgin Money |
Yes, unless it is: • a builder or vendor cash/financial incentive in relation to the purchase of a new build property and the value of cash incentives is no greater than 5% of the lower of the purchase price or valuation stated in the offer and the loan amount (excluding fees added to the mortgage) is no greater than 90% of the lower of the purchase price or valuation stated in the offer; or • a builder or vendor non-cash/non-financial incentive for fixtures, fittings or white goods in relation to the purchase of a new build property. Cash/financial incentives include but are not limited to cashback deals, stamp duty / land and buildings tax contributions, payment of fees to professionals (e.g. solicitors, surveyors), rental payment guarantees, gifted deposits. Non-cash/non-financial incentive for fixtures, fittings or white goods include but are not limited to carpets, curtains, kitchen upgrades, bathroom upgrades, electrical upgrades, turf, landscaping. If the borrower is obtaining a Help to Buy Equity Loan, all incentives must be reported to us. |
| Whistletree (a trading name of TSB Bank plc) |
Yes. You should supply us with a copy of the disclosure of incentives form. Report to Mortgage Servicing, other details as 1.11a. |
| Yorkshire Bank Home Loans Ltd |
Yes, unless it is: • a builder or vendor cash/financial incentive in relation to the purchase of a new build property and the value of cash incentives is no greater than 5% of the lower of the purchase price or valuation stated in the offer and the loan amount (excluding fees added to the mortgage) is no greater than 90% of the lower of the purchase price or valuation stated in the offer; or • a builder or vendor non-cash/non-financial incentive for fixtures, fittings or white goods in relation to the purchase of a new build property. Cash/financial incentives include but are not limited to cashback deals, stamp duty / land and buildings tax contributions, payment of fees to professionals (e.g. solicitors, surveyors), rental payment guarantees, gifted deposits. Non-cash/non-financial incentive for fixtures, fittings or white goods include but are not limited to carpets, curtains, kitchen upgrades, bathroom upgrades, electrical upgrades, turf, landscaping. |
| Yorkshire Building Society |
Yes. You must inform whoever issued the offer/instructions if you are aware of any allowances, incentives, discounts and direct payments. If the purchase price does not reflect the cashback, incentives or discount, then we may have to reconsider the basis of our lending. A completed copy of the UK Finance Disclosure of Incentives Form, also called the Disclosure Form (version 1), (the Form) should be obtained where the property is to be occupied for the first time or for the first time in its current form, for example, because of a renovation or conversion. You should send the Form as soon as possible to whoever issued the offer/ instructions even if it does not disclose any incentives. You must not submit your Certificate of Title unless you have previously sent us the Form. |