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The North Central Review
The North Central Reviewhttps://ncreview.com.au/
The North Central Review is an independently owned newspaper publishing company based in Kilmore that is responsible for publishing two community newspapers each week, covering communities within the Mitchell Shire

VICTORIANS struggling with their mortgage repayments can now access Australia’s first and only free service dedicated to helping homeowners stay in control of their finances.

Attorney-General Jaclyn Symes recently announced the statewide expansion of Mortgage Stress Victoria (MSV), which aims to support Victorians with expert legal, financial, and social work support both in-person and remotely.

“A house is more than a roof over someone’s head, it’s their home,” she said.

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“Through Mortgage Stress Victoria, we are supporting more vulnerable people to stay in their homes.”

Initially funded as part of a $31.1 million State Government investment in the legal assistance sector in the Victorian 2021-22 Budget, the service started as a pilot in Melbourne’s western suburbs.

“Mortgage Stress Victoria offers more than just financial advice—it’s a lifeline for people’s wellbeing, their futures, and their peace of mind,” Ms Symes said.

MSV’s team of financial counsellors, lawyers, and social workers help homeowners by negotiating affordable repayments and protecting their legal rights, as well as offering emotional support.

Since 2022, MSV has helped prevent home repossession in more than 190 cases, with around one-third of its clients being victim-survivors of family violence.

Julia from Beveridge faced mortgage stress after falling ill and being unemployed for two years. With support from MSV, she was able to keep her home.

MSV’s financial counselling team helped her manage her mortgage, while their social work team provided vital support, emergency relief referrals, and help to retrain and rebuild her future.

MSV can help at any stage of mortgage stress, whether payments are up to date or there are court orders for repossessing a resident’s home.

Eligibility for the program requires Victorians to live in their mortgaged primary residence, own only one property, and have a household income of $75,000 or less, or are affected by family violence.

For more information on MSV, call 1800 572 292 or visit www.mortgagestress.org.au.

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