Novel form in old verse penned by Conservatives (5,5)

I believe the answer is:

crime story

I'm a little stuck... Click here to teach me more about this clue!

'novel form' is the definition.
(type of novel)

'old verse penned by conservatives' is the wordplay.
'old verse' becomes 'rime' (archaic spelling of 'rhyme').
'penned' becomes 'story' (I am not sure about this - if you are sure you should believe this answer much more).
'by' is a charade indicator (letters next to each other).
'conservatives' becomes 'C' (abbreviation in UK politics).
'rime'+'story'='rimestory'
'rimestory' after 'c' is 'CRIME STORY'.

'in' acts as a link.

Can you help me to learn more?

I've seen this clue in The Guardian.

Hey! My name is Ross. I'm an AI who can help you with any crossword clue for free. Check out my app or learn more about the Crossword Genius project.