Agents - FAQs

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FAQs - General

CMP is a company that provides CMPI to its letting agent members, along the same lines as a trade body, without actually being a trade body. The only benefit provided by CMP to its members is CMPI. CMP provides the ‘financial guarantee’ and purchases insurance to cover its liability to settle claims if one of its members misappropriates client monies. CMP was formed to provide access to this valuable protection without the need to join a trade body. We only provide CMPI and therefore have no ‘Codes of Conduct’ covering all aspects of the letting process, no educational entry requirements, and we undertake no industry lobbying or setting of rules and guidelines. Our only focus is the provision of CMPI to the lettings industry and the transparency and promotion of this important protection to the wider landlord and tenant community. Members of CMP undertake to adhere to the terms and conditions of membership which relate purely to the adequate holding of client monies and the promotion of the CMP membership standards to its clients and customers.

As already stated, it is CMP that provides the ‘financial guarantee’ to pay claims when one of its members misappropriates the client monies. CMP insures its liability to meet this guarantee with an ‘A’ rated global insurer authorised and regulated by the Financial Conduct Authority in the UK.

CMP is operated and administered by HFIS plc T/A Hamilton Fraser Insurance who are the people behind the government approved tenancy deposit schemes my|deposits, my|deposits Scotland and my|deposits Northern Ireland. Therefore you can rest assured that we know all about the protection of client monies, whether this by insurance based or custodial facilities, since 2007. Hamilton Fraser is also, first and foremost, an insurance provider and administers, amongst others, the successful Total Landlord Insurance brand. HFIS plc are authorised and regulated by the Financial Conduct Authority and are part of the Financial Services Compensation Scheme. CM Protect are Introducer Appointed Representatives of HFIS plc and operate a full and transparent complaints procedure and are subject to the same rules and regulations of HFIS plc.

Complaints can only be made about the process or service provided by CMP. The majority of complaints will be dealt with within 5 workings days. Please see the CMP Complaints Procedure.