Northwood is proud to be a founder firm of SAFEagent & urges both Landlords and tenants alike to search out agents that are registered with SAFEagent in order to ensure their money is protected.
SAFEagent – Safe Agent Fully Endorsed – denotes firms that protect landlords and tenants money through Client Money Protection (CMP) schemes. It is recognised by the Government and is supported by organisations as wide & varied as the charity Shelter, the NUS, Trading Standards Institute, Council of Mortgage Lenders, Residential Landlords Association, The Property Ombudsman Scheme and the British Property Federation. To date over 1500 agents have signed up to the scheme which only went live in August.
Nick Cooper MD of Northwood and Chair of the SAFEagent Steering Group said:
“We want every person who is looking to rent a property to ‘play it safe’ and be aware that they CAN protect their money. The message is simple – be safe…choose a SAFEagent when you rent. Remember, your money may be at risk if you do not use an agent that is part of a client money protection scheme.”
“Landlords often make decisions on placing their business with an agent based on cost but it can end up costing them more than they bargained for if the agents shut down and disappear with the contents of the client account. If agents are not part of a CMP scheme, consumers have little or no possibility of recovering lost funds. We have got to make consumers more aware of this.”
As a company, Northwood take the protection of your money very seriously and therefore have been a driving force behind the creation & roll out of the SAFEagent scheme. Dont be afraid to ask your agent for the details of which Client Money Protection(CMP) scheme they are signed up to. Wanting to understand what happens to your money and where it goes, is not a sign of not “trusting” your agent, it just makes good sense.
For more information on SAFEagent go to http://www.safeagents.co.uk