Bay Estate and Letting AgentsSwanseaMarinaMumbles

What is Client Money Protection?

Letting and property management agents in the private rented sector who hold client money are required by law to belong to a government-approved CMP scheme by 1 April 2019. This is designed to prevent tenants and landlords being left out of pocket where an agent unexpectedly goes bust or absconds with their money.

As part of their membership of a recognised scheme, agents must also;

  • hold client money in a client money account with a bank or building society authorised by the Financial Conduct Authority.
  • hold and maintain appropriate professional indemnity insurance.
  • have appropriate client money protection handling procedures.
  • obtain a certificate confirming membership of an approved CMP scheme and display this prominently in each of their offices where they deal with the public and on their website.
  • provide a copy of the certificate to any person who may reasonably require it, free of charge.

Bay Estate Agents Limited is registered with the Propertymark Client Money Protection scheme and the membership certificate is available on the website.

There’s no better way to sell or let your home.

At Bay Estate & Letting Agents, we really know the Swansea property market. We're local and we'll gladly share our knowhow and experience with honest advice that will be just right for you. So, whether you're buying, selling or letting in Swansea, get in touch. We're here to help.