Borrowers disputes

Australian Credit Licence No. 393812

Homebuyer or guarantor where QBE LMI is undertaking recovery action

Lenders' mortgage insurance is provided by QBE LMI for the benefit of your lender. It protects your lender in the unfortunate event of you defaulting on your home loan and your mortgaged property being sold. Lenders' mortgage insurance should not be confused with mortgage protection insurance, which covers borrowers for the payment of their mortgage repayments in the event of unforeseen circumstances including unemployment, illness or death. Should the outstanding loan balance owed by you to your lender not be covered by the sale of the mortgaged property, you would be responsible for repaying any shortfall.

In circumstances where the property you mortgaged to your lender has been sold leaving a shortfall on the loan and QBE LMI has paid the shortfall to your lender, your lender may assign to QBE LMI all of its rights to recover the outstanding loan balance owed by you (“the debt”).

If QBE LMI has taken, or is taking, any action against you to recover the debt, you are encouraged to contact QBE LMI’s mercantile agent in the first instance to explore your available options to repay the debt. Contact details of the mercantile agent will have been provided to you.

The following outlines our Complaint Dispute Process. It sets out how we handle any complaint or dispute which we are made aware of in these circumstances. At all times, your records will be dealt with in accordance with QBE LMI’s Privacy Policy.

Lodging a Complaint

If we cannot agree on a payment proposal for payment of the debt or you have some other complaint in relation to the debt, we ask you to contact our Customer Care Unit directly.

QBE Customer Care Unit

GPO Box 219
Parramatta NSW 2124
Tel: 1300 650 503
Fax: (02) 8227 8594
Email: complaints@qbe.com

What happens next?

  • Where appropriate, our Customer Care Unit (CCU) will refer your complaint to a manager in the relevant team for resolution within five business days
  • If the manager can’t resolve your complaint, the CCU will review the matter – they have 15 business days to complete their review
  • Should the CCU be unable to resolve your complaint, they’ll escalate it for an Internal Dispute Resolution review by a Dispute Resolution Specialist.

Dispute resolution

Our Dispute Resolution Specialist will:

  • Confirm receipt of your escalated complaint by phone, email or by letter within three business days
  • Review your complaint
  • Update you every 10 business days on the progress of the review
  • Deliver a final decision within 15 business days, providing they’ve received all the necessary information
  • Make contact to discuss a new deadline if they need extra time to complete their investigations
  • Advise you of the next steps if you’re unhappy with our final decision. This may include providing you with details of relevant external dispute resolution schemes, such as the Credit & Investments Ombudsman (‘CIO’) or Australian Financial Complaints Authority.

    • You may lodge a dispute with the Credit & Investments Ombudsman if lodged before 1 November 2018:

      Online: www.cio.org.au
      Email: info@cio.org.au
      Phone: 1800 138 422 (free call)
      Mail: Credit & Investment Ombudsman
              PO Box A252, South Sydney NSW 1235


    • with the Australian Financial Complaints Authority if lodged on or after 1 November 2018:

      Online: www.afca.org.au
      Email: info@afca.org.au
      Phone: 1800 931 678 (free call)1
      Mail: Australian Financial Complaints Authority
              GPO Box 3, Melbourne VIC 3001

While your complaint is being reviewed by us, we will refrain from commencing or continuing with legal proceedings or any other enforcement action (i.e. debt collection activity).

For more on our complaints process, see our Complaints and Dispute Brochure.