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.
