Government rejects call for mandatory financial protection for all lettings and management agents

SAFEagent – the consumer mark that donates ‘safe’ lettings agents that are covered by Client Money Protection (CMP) schemes – has expressed its surprise and disappointment that the Housing Minister (Brandon Lewis MP) has declared that “at this time, he has no plans to make CMP mandatory…”

His comments, in a recent letter to SAFEagent, are in response to a request for Government to consider introducing an amendment to the Consumer Rights Bill to make inclusion in a CMP scheme mandatory for all lettings and management agents.

John Midgley, Chair of the SAFEagent Steering Group said:

“We are disappointed that this key consumer protection measure looks set to be rejected by Government and will continue with our campaign to which 3000 lettings agent offices have already signed up. .

“We are pleased that the Minister recognizes the contribution the SAFEagent makes to consumer protection and we will continue with our efforts. We are delighted to announce that the largest lettings agency in the UK – Countrywide – has recently pledged its support and commitment to SAFEagent. With 425 lettings branches nationwide, this will add considerable weight to our campaign”.

“Since we wrote to the Minister an amendment to the Consumer Rights Bill on the introduction of mandatory CMP has been laid in the House of Lords by Labour Peer, Baroness Hayter and we give her our full support.

“We will await with interest the outcome of the forthcoming debate and rally support from all within the industry to have this measure introduced which is of vital importance in increasing consumer protection in the Private Rented Sector”.

SAFEagent is widely recognised as the mark to look for to take the risk out of the rental sector, and has already been recognised by the Government and key industry organisations such as DPS, TDS, My Deposits, Ombudsman Services: Property, The Property Ombudsman Scheme, CAB, RLA and the Trading Standards Institute as well as being supported by industry suppliers such as Endsleigh and Imfuna.

The SAFEagent campaign is driven by the SAFEagent Steering Group comprising of representatives from the following firms:

Belvoir
Countrywide
Foxtons
Hunters
Leaders
Northwood
Spicerhaart
Touchstone
Winkworth
Xperience

SAFEagent Press Information:
Please Caroline Hole-Jones at; The Splash Partnership: 01225 318000 / 07768 806160 caroline.hole-jones@tsplashp.com

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