Client Money Protection (CMP)
Client Money Protection (CMP) is required for all Propertymark-regulated companies that handle client money or use a third party to manage client money on their behalf. The requirement for CMP also applies to chattels auctioneers.
You must take out CMP with Propertymark unless you are already covered by RICS or the Law Society of Scotland.
How do I get CMP with Propertymark?
When your individual membership is confirmed, you will complete a company application form to verify your details. Once approved, you will be added to the Propertymark Client Money Protection (CMP) scheme. An annual renewal form is required.
This ensures your information remains up to date. As part of the annual process you will be asked to provide:
And evidence of your registration with an Independent Redress Scheme, the Information Commissioner's Office (ICO) and, where applicable, an Anti-Money Laundering (AML) supervisory body such as HM Revenue & Customs (HMRC).
What is Client Money Protection?
How much does CMP cost?
The annual levy is based on the total amount of client funds held in your client account. Transitional/unregistered residential tenancy deposits may be covered at our discretion. Once we receive your client money reporting documents, we will confirm the applicable levy shown in the table below and issue an invoice.
| Balance of other client funds | CMP Levy |
|---|---|
| Under £500,000 | £410 |
| £500,000 – £1 million | £1,085 |
| £1 million – £3 million | £2,055 |
If you hold more than £3 million in total ‘other client funds’, please contact the Company Team or login to the website as a member and revisit this page for more information.
Client Money Protection FAQs
