West Bromwich Building Society Tracker Margins Legal Action

West Bromwich Building Society Tracker Margins Legal Action

18:38 PM, 30th September 2013, About 11 years ago 3869

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West Bromwich Tracker Rate Mortgages Legal Action Group

West Bromwich Building Society Tracker Margins Legal Action

Are you affected by the West Brom Tracker Rate Hike?

If your mortgage account number begins with the number 8 you are highly likely to be one of the unlucky 41% of the mortgage customers of the West Bromwich building Society with a West Bromwich Mortgage Company account affected by the 1.9% increase in your tracker margin rate. However, if you arranged your mortgage directly with West Bromwich Building Society (i.e. not via a broker) or before 2006 the chances are that your account number will begin with the number 9 and you are not affected – YET!!! West Brom will give no assurances that mortgages with account numbers beginning with the number 9 will not be affected at some point in the future.

OUR INTENDED CLASS ACTION LITIGATION OVERVIEW

Tracker Rate Class Actions Updates

The reasons we started this campaign are very simple:-

1) We believe the actions of West Brom are immoral

2) We believe the actions of West Brom are unlawful, i.e. they have no legal grounds to increase their tracker rate margins

3) We have no wish to subsidise other areas of the West Bromwich Building Society business model

4) We are fearful of other lenders following suit if West Brom are allowed to get away with this

Mark Smith (Barrister-At-Law) said …

“Representative actions, where one person starts a case representing many others, who all want the answer to a legal question from a court such as ‘is this contract enforceable against me?’ but are not seeking damages. All those who sign up to the action will get the benefit of the win, but they do not have to start their own cases, as they are ‘represented’ by the lead claimant.

The only people who will definitely benefit from success in the case are those who have signed up. There will be no free rides. Any others will have to fight their own corners individually, either alone or with legal help (which will inevitably cost significantly more than the group case).”

We will NOT settle on any basis.

Landlords take legal action against West Brom Mortgage Company

We have a moral duty to do what is right for those who support the values upon which this campaign was started. Our promise to all who support these values is that we will not sell out on you at any price. We will continue to fight this injustice and we will fight any other lender who tries to follow suit.

Are you with us?

This discussion thread is now closed – we’re off to Court!

To link to the new discussion please CLICK HERE

West Bromwich Mortgage Company Tracker Margins Legal Action


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Nicholas Barksby

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9:59 AM, 23rd November 2013, About 11 years ago

Reply to the comment left by "Chris Novice Shark Bait" at "22/11/2013 - 17:12":

Hi all been sat on the fence till now just posted my cheque and also paid into the marketing fund.I too will increase my payment if the funds fail sort.WHAT EVER IT TAKES.

George Top

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10:18 AM, 23rd November 2013, About 11 years ago

Reply to the comment left by "Nicholas Barksby" at "23/11/2013 - 09:59":

That's great Nicholas:-)

As a matter of interest - how long have you been reading the forum? What was putting you off joining the legal action? and what finally persuaded you to jump?

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10:28 AM, 23rd November 2013, About 11 years ago

Reply to the comment left by "Pindy Kaur" at "22/11/2013 - 22:57":

Wish I'd thought of with holding my number ...but then I'd been speaking with her anyway so they had it already. Anyway my rambling rant is now on the site (I sound like a right old dodderer) so there must be plenty of space to leave fresh ones by now I would imagine

Mark Alexander - Founder of Property118

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11:05 AM, 23rd November 2013, About 11 years ago

Reply to the comment left by "Denise Doms" at "23/11/2013 - 10:28":

Hi Denise

Please post a link to your rant.
.

Nicholas Barksby

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11:07 AM, 23rd November 2013, About 11 years ago

Reply to the comment left by "Helen Landlord" at "23/11/2013 - 10:18":

Hi Helen been reading on and off for a some time but been away from my lap top,now seeing the speed this is gathering anyone with a buy to let would be silly not to join us.

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11:39 AM, 23rd November 2013, About 11 years ago

Mark Alexander - Founder of Property118

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11:52 AM, 23rd November 2013, About 11 years ago

Reply to the comment left by "Denise Doms" at "23/11/2013 - 11:39":

Good job Denise, I've just listened to it. I bet you felt better for that.
.

Paul Eastabrook

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12:16 PM, 23rd November 2013, About 11 years ago

Reply to the comment left by "Denise Doms" at "23/11/2013 - 11:39":

That was a very powerful rant, Denise. Mine never appeared which is why I posted a written version on the Consumers and Advisors Forum at http://www.cherryfind.co.uk/forum/category/details/617.

I haven't actually noticed any others on either part of the site yet, but am not sure if the moderation process is taking a while to upload them.

Concerned Landlord

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12:24 PM, 23rd November 2013, About 11 years ago

55300 hits! 6700 affected and only over 242 have committed - 3.6% - there must be something stopping them joining. I don't believe it is at all to do with sitting on the fence, apathy, laziness or, heaven forbid, stupidity. There must naturally be an army of affected who have directly applied to the FOS and currently waiting. For some there must be a more practical and plausible reason of not joining - perhaps trust?!

So, lets see if we can improve on these two fronts.

With FOS, I have a fear that they give WB a slap on the hand and asked them not to do it to non-landlords - as in fact FCA has effectively done. To me there is no body in UK higher than the court of law and I would like this blatant abuse of T&C to be challenged in the court once and for all.

I have already pledged that I will be willing to contribute to the required fund - this is in fact my first ever involvement of this (or any similar) kind! as I feel very strongly that WB have crossed a very important line.

To 6700-242 I urge them please to read Justine's last comments and particularly note what he says about the outcome favouring primarily the participants. If I may be excused to use an old adage here: The time to act is now...

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12:27 PM, 23rd November 2013, About 11 years ago

Reply to the comment left by "Paul Eastabrook" at "23/11/2013 - 12:16":

WOW! much more ordered and considered than my effort - and successfully provoking responses too!
I would suggest in hindsight having a script if you feel a rant coming on LOL
Oh well, onwards and upwards ay???

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