|What is Money Shield?|
Money Shield is a Client Money Protection (CMP) scheme enabling lettings and estate agents to reassure tenants, landlords, buyers and vendors that their money is safe. If your agent has misappropriated your money, contact Money Shield to make a claim. Money Shield will step in to reimburse landlords and tenants should a property agent misappropriate rent, deposit or other client funds.
Thousands of Lettings Agents do not protect their Clients’ Money so make sure your agent has CMP. Money Shield offers the peace of mind that your money is protected if the unthinkable happens. If your rent or maintenance funds go missing due to theft or your agent goes bust, your money will be reimbursed quickly without any hassle.
Applying to have missing money reimbursed is simple with Money Shield. As long as it has been reported to the police you can simply fill out our claim form to get your money reimbursed. However claims seldom happen against Money Shield agents as we continually make checks to ensure your money is being held in a separate client account.
How to make an application
To make an application please complete the CMP application form. Applications must be submitted within 12 months of our notification that a misappropriation has occurred. We will endeavour to complete applications as quickly as possible but it is not always within our control. Prompt responses from applicants, together with all supporting documentation will assist the process.
Money Shield will reimburse landlords and tenants who are out of pocket up to £5 million per year with a maximum award of £50,000 per individual claim. Unfortunately, we cannot make payments for any loss arising from war, terrorism, confiscation or nuclear risks.
The Government is taking action to protect landlords and tenants by making CMP mandatory. All agents managing lettings in England will need to belong to an approved CMP scheme by 1 April 2019. Agents in Scotland and Wales are already required to hold CMP.
Money Shield is administered by Propertymark, an established brand which is visible in estate and lettings agents offices on high streets across the UK. As the scheme's administrator, Propertymark has a long and successful history of managing Client Money Protection claims. Money Shield is the only CMP scheme, external to Propertymark, that you can use for eligibility for membership of Propertymark.
Meet the Directors
Deputy Chief Executive