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Tuesday, November 25, 2014

CMP Scheme to be required by agents

The Government has made an additional amendment to the Consumer Rights Bill (currently at Report stage in the House of Lords). The amendment requires all lettings agents to display whether the firm offers the financial protection of being part of a Client Money Protection (CMP) Scheme.

The SAFEagent campaign has welcomed the amendment, with Chair of the SAFEagent Steering Group, John Midgley saying:

“We are delighted that the Government has made this common sense move and listened to our concerns on the need for financial protection for landlords and tenants. This is the first step in ensuring that being part of a CMP scheme is made a mandatory requirement."

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