Mediation is a confidential and private way of solving disputes.

It is a process in which an independent third party assists people in reaching a mutually beneficial and amicable solution. Mediation is a completely voluntary process which only becomes binding when both parties have reached a full and satisfactory agreement. The mediator will not decide on any outcome nor has the mediator any input to the final decision which of course must be reached by the parties involved. In some circumstances such as financial mediation/negotiation, often lending institutions will refuse to mediate or negotiate directly with their own client but will accept an authorised third party who can speak on your behalf. In those circumstances, the mediator will be retained by the bank’s client as an authorised 3rd party in the dispute and will attempt to obtain the best result possible for their client following instruction from the client of the outcome they hope to achieve. The onus is on the client to give clear instructions to the mediator of the outcome they hope to achieve for the process to be successful.
The benefits of using a mediator are varied and the obvious one is cost which is a fraction of the cost of litigation. Other factors to consider when you are appointing a mediator are that the time frame is significantly shorter than taking the legal route.

It’s never too late to mediate