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Client Money Protection to become mandatory from 1 April 2019

Thursday 03 May 2018

David Cox, Chief Executive, ARLA Propertymark comments on today’s announcement from the Government that all property agents will need to be part of an approved CMP scheme by 1st April 2019:

“After a long fight, ARLA Propertymark’s campaign for mandatory Client Money Protection (CMP) is finally won. With the help of Baroness Hayter of Kentish Town, and cross-party consensus in the House of Lords, this is a vital step forward in improving consumer protection in the rental sector; probably more so than the myriad of other laws passed over the last two decades. We look forward to working with the Government to guarantee that the level playing field we’ve fought so hard to create becomes a reality on the 1st April next year.”

-Ends-

For further information contact:

Propertymark Press Office

Tel: 020 7566 9777

E-mail: propertymark@lansons.com

 

About ARLA Propertymark

ARLA Propertymark is the UK’s foremost professional and regulatory body for letting agents; representing over 9,000 members. Our members operate to professional standards far higher than the law demands and we campaign for greater regulation in this growing and increasingly important sector of the property market. By using an ARLA Propertymark Protected agent, consumers have the peace of mind their agent will provide a professional service and their money is safeguarded by Propertymark’s Client Money Protection scheme.