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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17:09 PM, 28th November 2013, About 11 years ago

browser? Opera? Now you're just saying words at me! All I know (old bird) is that I use google chrome (does that make sense) and normally just open the e mail notification and then click on the link and everything is (almost always) fine. I can see all of todays comments and have picked up most of the old stuff from a link Mark sent me so i'm feeling pretty much up to speed now tho' thanks

Mark Alexander - Founder of Property118

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17:12 PM, 28th November 2013, About 11 years ago

I am going offline now for the evening, please don't fall out this time LOL
.

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17:15 PM, 28th November 2013, About 11 years ago

Reply to the comment left by "Mark Alexander" at "28/11/2013 - 17:12":

ok daddy, we'll be good!

The Man From Nowhere

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17:16 PM, 28th November 2013, About 11 years ago

Has anyone else noticed Mark Smith's comment today at 16:39 isn't showing up on this discussion board? Below is his response to Appalled Landlord's question at 16:33 today.

"2013-11-28 16:39:19
I would advise anyone that they are better off in a decisive and well planned class action than trying to fight alone in a lower tier court."

Glitch???

Dean

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17:17 PM, 28th November 2013, About 11 years ago

Reply to the comment left by "The Man From Nowhere" at "28/11/2013 - 17:16":

Yes his seem to be taking sometime to come through

Dean

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17:19 PM, 28th November 2013, About 11 years ago

Reply to the comment left by "Denise Doms" at "28/11/2013 - 17:15":

Im off to play football so I cant guarantee I wont be falling out with someone !

In fact I can pretty much guarantee I will !

Alexander Law

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17:27 PM, 28th November 2013, About 11 years ago

I've just received this e-mail from Jill at Perthshire Property Services, who are our most excellent letting agents:

"Alec

Just to let you know I’ve contacted some mortgage brokers, SAL, the press departments of LettingWeb, S1Homes, Rightmove and Citylets as well as put it out on Facebook, Twitter, Linkedin, Pin Interest and Google+. I’m away for a couple of days but I’ll hopefully also be able to follow up with a newsletter to our landlords when I come back early next week. I hope you don’t mind but I’ve given the mortgage brokers and property portals your contact details in case they wanted more info. I’ve not put it on the social media and I won’t give it to our landlords. I’ve asked them just to contact me and I’ll pass on any info.

If you get any responses that you think might be useful in my newsletter can you let me know.

Regards
Jill Scott"

I'll let you know if we get any contacts through Jill, but this should hopefully catch folk in the Tayside / Central Scotland area who haven't yet heard of the property118 campaign. The more the merrier I say!

Addicted to fighting the WBBS

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17:43 PM, 28th November 2013, About 11 years ago

Reply to the comment left by "Alexander Law" at "28/11/2013 - 17:27":

Hello

I have spoken to a mortgage broker today (who has only just heard that West Brom) are increasing the Rate Hike for his own mortgage ! He will be joining up tomorrow.

Also, I have been referred to one of the above mortgage brokers clients who has more than 3 West Brom Mortgage who only received his notification on the 20th November - they will be joining up tomorrow.

The Point being is that there are probably thousands of affected borrowers that have just received notification later than we all were and/or are only just getting round to opening the West Brom Letters.

Lastly, I do think the Cherryfind.co.uk posting about Mortgage Brokers needing to get behind this campaign is actually getting their Attention and Making them Act.

Mark Alexander - Founder of Property118

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17:44 PM, 28th November 2013, About 11 years ago

Mark's comment was double posted so I deleted one of them.
.

Maxwell

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17:44 PM, 28th November 2013, About 11 years ago

Delighted to read the comments from Mark Smith Barrister at Law and also about the fascinating defeat of West Brom by the commercial sector. We've been in the fight with money in the pot from very early on, and it was not a particularly good time to have to find £720 (boiler malfunction in one property, broken pipe disaster in another - who'd be a landlord....) but I so glad we did. Today I feel encouraged and secure, rather than desperate and confused. A great feeling.

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