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Concern that Client Money Protection pledge may be forgotten

Kitemark-style scheme SAFEagent is calling on the government to ensure plans to make Client Money Protection schemes mandatory are not ignored in the raft of promised changes to the regulation of the lettings and management industry. 

The campaign has written to housing minister Alok Sharma to ask him to move forward with the plans. 

“We welcome the government’s announcement that it intends to introduce regulation to the lettings and management sector. But this move shouldn’t be to the detriment of the good work it’s done moving towards mandatory CMP” says John Midgley, chair of the SAFEagent steering group - a body that includes representatives from Northwood, Belvoir, Foxtons, Touchstone, Winkworth, Hunters, Spicerhaart, Sequence, Connells, Leaders and Savills.

“While most agents run good, professional businesses, there are still instances where rogue agents misappropriate clients’ funds. If they are not part of a CMP scheme, there is no recourse for those clients. Therefore, we’re urging the government to move forward with the consultation on the implementation and enforcement of CMP at the earliest opportunity” he adds.

SAFEagent’s long-standing campaign has been backed by Citizens Advice Bureaux, The Property Ombudsman, Ombudsman Services:Property, the Property Redress Scheme, My Deposits, TDS and DPS as well as some industry suppliers.

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