Client Money Protection (CMP) Scheme
Membership eligibility
CMP is mandatory for every company that acts as an agency in property (including chattels auctioning) which handles client money or uses a third party to oversee client money. If this is the case, to become a member, Principals, Partners and Directors (PPDs) have to take out CMP with Propertymark unless they have CMP with Money Shield, RICS or the Law Society of Scotland.
How do I get CMP with Propertymark?
As part of your registration process for Propertymark Membership we will require you to submit your Accountant’s report or Letting Partnership ‘Health Check’ upon completion you will be enrolled onto our CMP scheme.
Find out more about becoming a member →
How much does CMP cost?
The standard levy is £400 and you will need to renew annually. However, the final payable levy will depend on the amount of 'other client funds' held in your client account. Upon receipt of the Accountant’s Report or The Letting Partnership's 'HealthCheck', we will determine the applicable levy as covered in the table below and send you an invoice.
If you hold £13 million or more in ‘other client funds’ and belong to the Propertymark Large Corporate CMP scheme, please contact the Membership Documents Team to discuss the CMP levy and additional information that may be required to ensure continued CMP protection.
Client Money Protection FAQs
Looking for an Alternative option to Propertymark CMP?