19th March 2019 | Posted in: Uncategorized

UPDATED 29 MARCH 2019 TO INCLUDE RICS – DETAILS BELOW

As of 1 April 2019 all letting and managing agents will be required to hold client money protection insurance.

There are a limited number of schemes approved by government:

Money Shield – owned jointly by Propertymark and The Dispute Service and offered to non ARLA Propertymark members, meaning agents can sign up without having to join the trade body
Website: https://money-shield.co.uk/

National Approved Letting Scheme (anyone wanting to use this scheme will need to join NALS)
Website: https://www.nalscheme.co.uk/
Email: info@nalscheme.co.uk
Tel: 01242 581712

Client Money Protect
Website: https://www.clientmoneyprotect.co.uk
Email: info@clientmoneyprotect.co.uk
Tel: 0333 321 9414

UKALA (UK Association of Letting Agents)
The scheme is underwritten by insurers Hiscox and regulated by the Financial Conduct Authority in the UK, and is open to all property agents and professionals who are UKALA members
Website: https://www.ukala.org.uk/
Email: info@ukala.org.uk
Tel: 020 7820 7900

PropertyMark (anyone wanting to use this scheme will need to join ARLA
Website: http://www.propertymark.co.ukhttp://www.propertymark.co.uk
Email: help@propertymark.co.uk
Tel: 01926 496 800

RICS
Website:
https://www.rics.org/uk/upholding-professional-standards/regulation/firm-regulation/client-money/cmp-scheme/
Email: contactrics@rics.org
Head Office Tel: 0)24 7686 8555