Joining CMP

Why Join CMP?

It is a legal requirement to join and display membership of an authorised client money protection (CMP) scheme
We are authorised by MHCLG (England), Scottish Executive (Scotland) & Rent Smart (Wales)
Easy and straight forward joining process
No need to join a trade body
The UK’s longest established stand alone client money protection scheme for letting agents

Our joining process is straightforward and can be done online. To be eligible to join and remain a member of CMP you will need the following:

A ring-fenced client money bank account from a UK bank that is authorised by the Financial Conduct Authority and Prudential Regulation Authority and is covered by the Financial Services Compensation Scheme
Three months' bank statements from your client account(s) showing all client money transactions for deposits and rents (excluding newly formed companies)
Appropriate professional indemnity insurance for the size of the firm - Get a quote from CMP Professional Indemnity here
Membership of an external consumer redress scheme such as the Property Redress Scheme or the Property Ombudsman
Membership of your tenancy deposit protection scheme including a summary of current live protections
To agree to abide by the CMP scheme rules including the client money handling conditions

Members of CMP will be charged an annual membership depending on the amount of client money they hold excluding deposit monies that are already protected through an authorised custodial or insurance-backed tenancy deposit protection scheme.

Membership will not commence until the annual fee is paid in full.

The current fees are:

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