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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17:47 PM, 28th November 2013, About 11 years ago

I spoke with the franchise owner and staff at my local Century 21 estate agent/tenant finders yesterday who had not heard about WBBS. They have lots of landlord contacts and will be passing on Property118's details

David Ellis

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17:59 PM, 28th November 2013, About 11 years ago

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

If you haven't already paid your £240 and joined then now is the time to do it in case you miss the boat.

Dean

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18:15 PM, 28th November 2013, About 11 years ago

It all seems to be coming together nicely now.

I'm looking forward to tomorrow's figures. My guess is we will be nearing the £70000 mark, it'll be downhill after that.

I have to say I thought we would have been here a lot sooner but still.

If I were a director of west brom or the solicitors that gave them the advice I would be looking to settle with those registered and see if I could get away with charging the rest the additional interest. At least that way I could get into those new offices , get my Christmas bonus and order my new car.

Don't be one of those sat on the sidelines paying for those little luxuries. Get in the class action and make sure you can afford next weeks shopping bill !!!

Mark Alexander - Founder of Property118

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18:21 PM, 28th November 2013, About 11 years ago

Just spoke to a solicitor with 11 affected mortgages, he is seeking an injunction. More detail tomorrow. Must go, I'm already in trouble with Mrs A.
.

Dean

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18:25 PM, 28th November 2013, About 11 years ago

Reply to the comment left by "Mark Smith (Barrister-At-Law)" at "28/11/2013 - 16:45":

Mark. I don't quite understand this comment. We have one mortgage linked to libor. I'm not sure who it is with until tomorrow when I get back to work . Could you expand a little please. Thanks

ian

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18:25 PM, 28th November 2013, About 11 years ago

When sideliners get there Dec bank statement they see hundreds going out then that may persuade them. £240 minus tax allowance on legal fees looks a lot better figure.

Dean

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18:27 PM, 28th November 2013, About 11 years ago

Reply to the comment left by "Mark Alexander" at "28/11/2013 - 18:21":

£2640 off a solicitor. That'll be a first !!!!

David Ellis

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18:53 PM, 28th November 2013, About 11 years ago

Reply to the comment left by "Addicted to fighting the WBBS" at "28/11/2013 - 17:43":

Brilliant news and if many people are only just receiving their letters that might explain why we haven't had as many paid up members as we would have thought.

Mark Landlord

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19:05 PM, 28th November 2013, About 11 years ago

Great to hear the thoughts of Mark Smith and his support with the campaign!!

As Dean says looking forward to getting the update on figures tomorrow from Justin.

Also just wanted to say thanks to Richard Adams for taking the time out to visit the Landlord Show earlier this week and to everyone else for the collective efforts!

ian

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19:13 PM, 28th November 2013, About 11 years ago

Reply to the comment left by "David Ellis" at "28/11/2013 - 18:53":

Or are WB starting to target above the 6700 affected, if they have just received letters and there increase is on the 1st Dec is that not to shorter notice ?

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