Earlier this year industry campaigners were boosted by the news that the government intends to make CMP mandatory for all letting agents. SAFEagent - the mark that denotes firms hold consumers' money with a CMP scheme – says that while the campaign has finally achieved its goal, mandatory CMP is still not law and some consumers could still be at risk. “SAFEagents have campaigned hard for consumer protection – and the government has finally taken on board our calls for all agents to be part of a Client Money Protection Scheme.
This is fantastic news, but unfortunately, the law isn’t in place yet," says John Midgley, chair of the SAFEagent Steering Group. “Choosing a letting agent without CMP in place therefore remains a massive risk for both landlords and tenants. We’ll continue to campaign, raising awareness among consumers of the importance of only using an agent with CMP.”