Client Money Protection (CMP)
Client Money Protection (CMP) is required for all Propertymark-regulated companies, including chattels auctioneers, that handle client money or use a third party to manage client money. As part of membership, Principals, Partners and Directors (PPDs) must take out CMP with Propertymark unless they are already covered by RICS or the Law Society of Scotland.
How do I get CMP with Propertymark?
Once your individual membership has been confirmed, you will be asked to complete an Annual Return and Declaration form so we can confirm your company details. Once this has been approved, you will be added to the Propertymark Client Money Protection (CMP) scheme.
This ensures your information remains up to date and as part of the annual process you you will be asked to provide:
As well as evidence of your registration with an Independent Redress Scheme, Information Commissioner's Office and, where applicable, an Anti-Money Laundering (AML) supervisiory 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, including any insured tenancy deposits.
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
