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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Paul Eastabrook

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17:18 PM, 29th November 2013, About 11 years ago

Reply to the comment left by "Badger " at "29/11/2013 - 17:10":

I think that finding nearly 300 people all prepared to go to court and to use their hard earned cash to right an obvious wrong is remarkable. Well done to all on here for contributing so readily.

ROSEMARY BOSWORTH

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17:18 PM, 29th November 2013, About 11 years ago

Reply to the comment left by "Justin Selig" at "29/11/2013 - 15:34":

Is this figure for all cheques received or cleared funds only?

Dean

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17:28 PM, 29th November 2013, About 11 years ago

Reply to the comment left by "Mervyn Wharton" at "29/11/2013 - 17:06":

I'd have put all my mortgages on you looking at it as a downer

Dean

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17:30 PM, 29th November 2013, About 11 years ago

Reply to the comment left by "Paul Eastabrook" at "29/11/2013 - 17:18":

Here here

Richard Adams

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17:33 PM, 29th November 2013, About 11 years ago

Reply to the comment left by "Mervyn Wharton" at "29/11/2013 - 17:06":

Mervyn, If the proverbial man form Mars landed today and read your post in isolation he would be entitled to believe we are a bunch of no hopers with no prospect of success at all. The reality - glass half full not half empty remember - is different. To have raised £70000 is damn near incredible so far. I don't think any of us who were in at outset dreamed of us being where we are today, You may not be wowed but I am.
That we shall get the rest is now beyond doubt and you're 100% wrong to say we are dreading paying more should it be necessary which I doubt. There are many posts from members saying they will be delighted to do so. I just can't see, while you have every right to hold whatever opinion you choose, why you greet each favourable piece of news with despondency?
You will have noticed in the post from Justin today he says QC opinion is due in 2 weeks odd. I recall you saying you would wish to see it before committing to the class action? Forgive me if I misunderstood you about this but note that he added that only those who are in at the time will see it. It cannot therefore be a decision making tool for you.

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17:41 PM, 29th November 2013, About 11 years ago

Reply to the comment left by "Richard Adams" at "29/11/2013 - 17:33":

I think it is all very encouraging and am so glad that I signed up, even as a commercial property solicitor I would not have got very far trying to take on WBBS on my own! I really would encourage anyone else that is affected to join before the opportunity passes by. As with the others on this forum I am happy to make an extra financial contribution if that is necessary because £240 is not very much in the scheme of things.

ian

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17:47 PM, 29th November 2013, About 11 years ago

I think Mervyn Wharton is goading you best ignored unless he has a constructive comment.

Dean

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17:47 PM, 29th November 2013, About 11 years ago

Reply to the comment left by "Nicola Everden" at "29/11/2013 - 17:41":

I'm involved in 7 and would have no issue paying in more.

Dean

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17:48 PM, 29th November 2013, About 11 years ago

Reply to the comment left by "ian " at "29/11/2013 - 17:47":

Here here

Paul Eastabrook

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17:53 PM, 29th November 2013, About 11 years ago

Reply to the comment left by "ian " at "29/11/2013 - 17:47":

That would be a first.

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