Latest News

NCA money laundering investigation results in multi-million-pound asset recovery

24 May 2019

The National Crime Agency (NCA) recovered around £6 million worth of assets including an award-winning luxury hotel and a £100,000 Bentley from alleged members of an international money laundering group after an eight-year investigation. Read More...

Revised Codes of Practice issued by the Property Ombudsman

24 May 2019

On 1 June, The Property Ombudsman (TPO) scheme’s updated Codes of Practice will become effective. The revisions are substantial, and incorporate the Tenant Fees Act 2019, Client Money Protection and GDPR requirements. Read More...

Scotland’s house prices growing faster than the rest of the UK

24 May 2019

March 2019’s monthly UK house price index shows the average price for a property in Scotland is now £149,461 which is a welcoming 3.3% increase compared to the figures of March 2018. Read More...

Propertymark's Client Money Protection Scheme Secures Government Approval

Wednesday 27 February 2019

Propertymark has received formal Approval from the Housing Minister, Heather Wheeler MP, to operate a Government-authorised Client Money Protection (CMP) Scheme. The Government has committed to requiring all property agents in the private rented sector to obtain membership of an approved CMP scheme by 1st April 2019 and the many thousands of Propertymark Protected members will now be covered.

Following Propertymark’s successful campaign, spearheaded in Parliament by Baroness Hayter of Kentish Town, and supported by 30 organisations including Propertymark member agents, the other professional bodies for letting agents, tenant groups and landlord bodies as well as both trade and national media titles, the Government ruled in favour of mandating CMP for all letting agents in England. When the legislation comes into force on 1st April, all agents will need to have joined an Approved CMP scheme or will be operating illegally.

David Cox, Chief Executive, ARLA Propertymark said: “CMP has always been mandatory for Propertymark members, but when it becomes a requirement on 1st April, all letting agents will be operating on a level playing field and consumers will be protected regardless of which agent they choose. This is a triumph for the industry, and will go a long way towards improving the regulatory environment in the lettings sector and increasing protection for consumers who rely on agents to handle their money safely. Having worked closely with MHCLG to get this into law, we’re really pleased that our scheme has secured formal Government Approval.”

Information for Consumers

Client Money Protection (CMP) is a compensation scheme which recompenses landlords and tenants should an agent misappropriate their rent, deposit or other client funds. Client Money Protection (CMP) is compulsory for our members so if a Propertymark Protected agent has misappropriated your rent, deposit or other client money you can apply for reimbursement through the CMP scheme. Download our leaflet for more information on Client Money Protection (CMP).

Propertymark is raising standards in the property industry, giving you the peace of mind that comes with Propertymark Protection. If your agent is Propertymark Protected and you believe that they have misappropriated your money, contact Propertymark to make a claim. 

Details of the scheme

Propertymark will reimburse landlords and tenants who are out of pocket up to £15 million per year if their agent is within Propertymark's Main Scheme or £35 million per year if their agent is within Propertymark's Large corporate Scheme with a maximum award of £50,000 per individual claim.

Unfortunately, we cannot make payments for any loss arising from war (whether foreign or civil), terrorism, rebellion, revolution, military uprising or any form of confiscation by the state.