Mortgage Mediators Australasia

Mortgage Mediators acts as a neutral facilitator that works face-to-face, removing stymied efforts at communication. We are a critical link between the distressed mortgagor and the lender/LMI. The documented fact is that independent face-to-face mediation is the only approach that achieves desired results for all. It works overseas and we have proved that it works in Australasia.

 Stopping/Reducing the Loss

The current system from a comfortable distance, albeit to be congratulated is failing all parties — borrowers, lenders/LMI. Like all projects to achieve desired results for all the hard yards cannot be ignored or avoided to put a stop/reduce the loss and stress for ALL.

 The Alternative

There is an alternative – one in which anxiety, stress and financial loss are replaced by mediation face to face that reduces the cost and time spent while improving results for all.

 A Growing Problem

Mortgage stress, arrears and foreclosures are on the rise. According to recent research:

• 16 per cent of borrowers fall into the ‘severe mortgage stress’ category, which is defined as falling behind in payments, or receiving threats of foreclosure (Australian Broker Online, 21 September 2012).
• Almost six per cent of home owners are 30 days or more behind on their mortgage payments in Australia’s worst performing regions. (The Courier Mail, 19 October 2012).
• Delinquencies are not expected to ease. (The Courier Mail, 19 October 2012).
• Disputes about financial difficulty have climbed rapidly over the past three years, with the Financial Ombudsman’s 2011-2012 annual report revealing a 42% increase in complaints compared with the previous year. Of the 8659 disputes, 74% were about financial difficulty against banks. That averages 166 per week. (‘Banks new smiley face’, Sunday Telegraph, 2 December 2012). We believe some may not be justified, but can still be resolved, fact is we have after not being resolved by FOS for lender/LMI and borrower only achieved by face to face approach as a independent facilitator - conflict costs ALL - Mediate don’t Litigate.
• This service has resolved many after not being resolved by the current systems/ FOS office, only achieved by way of a face to face independent facilitator .