Lettings

Client Money Protection

7 May 2019

Client Money Protection

Whilst many lettings agents like Henry Adams have volunteered to have Client Money Protection (CMP) in place for a number of years we are delighted this is now a legal requirement for all agents.

The Housing and Planning Act 2016 is amended to allow the Secretary of State to:

  • Approve specific Client Money Protection schemes
  • Set out the conditions which must be complied with by the schemes
  • Outline any amendments to the schemes
  • Withdraw approval of any of the designated schemes

Under the Client Money Protection Schemes for Property Agents (Requirement to Belong to a Scheme etc.) Regulations 2019 from 1 April 2019, all property agents in England sector holding client money must belong to a government-approved Client Money Protection scheme.

Henry Adams achieves this through ARLA Propertymark

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