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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23:22 PM, 21st December 2013, About 11 years ago

Reply to the comment left by "Seething Landlord" at "21/12/2013 - 23:10":

I agree wholeheartedly. Actually seeing something in print within one of the most influential newspapers in this country is an extremely encouraging sign.

Richard Kent

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23:30 PM, 21st December 2013, About 11 years ago

I’m sure this thread is quiet for all the right reasons.

I’m sure everyone wants a break- The calm before the storm so to speak.

Property 118 - The heart of a heartless world; the soul of a soulless situation 🙂

Annette Stone

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23:54 PM, 21st December 2013, About 11 years ago

I don't think you can get the article on line unless you subscribe. In my opinion there was always going to become a time when the nationals would pick up the story and it would move from a banking decision which affected only buy to let "commercial" borrowers to a mainline story which affects all borrowers. I told Mark I thought the crossover into mainstream would come after the Counsel's advice was published so as far as I am concerned this is a bonus article. I am going to follow up with the journalist who wrote the article. Sleep well everyone!

Paul Eastabrook

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23:56 PM, 21st December 2013, About 11 years ago

I'll see if I can find a newsagent that still has a copy in the morning as it sounds too good to miss out on.

Annette Stone

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0:03 AM, 22nd December 2013, About 11 years ago

Paul. I have repeated the whole comment. The point of interest is that this is the first comment by a journalist that sets this in the context of a "scam" in a national newspaper. I don't want you to run around in the morning and be disappointed

Paul Eastabrook

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0:18 AM, 22nd December 2013, About 11 years ago

Reply to the comment left by "Annette Stone" at "22/12/2013 - 00:03":

If I see The Times using terms like “scams”, “scandals” and “so called ‘tracker’ mortgages” aimed in the direction of West Brom (plus BoI for good measure), I won’t be disappointed, but I take your point.

chrisbusy

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7:30 AM, 22nd December 2013, About 11 years ago

Reply to the comment left by "Annette Stone" at "21/12/2013 - 23:54":

Well spotted Annette and good work for keeping up with the journalist ..well worth it .

Happy Christmas to all at property 118 with special thanks to our leader , Mark and here's to a Happy , Healthy and PROSPEROUS new year ...I have a strong feeling that it may not be so for the WB and others who have sought out to strike injustice into our lives !

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9:46 AM, 22nd December 2013, About 11 years ago

I would just like to wish everyone on this thread a very happy and peaceful Christmas.

I know how stressful and frustrating this is for you, but nothing is going to change or develop now until early January.

Life is too short as it is, so I would like to suggest that everyone puts this on the back boiler mentally and focuses on enjoying Christmas with family and friends. Worrying and fretting about it over the next couple of weeks is not going change anything, just spoil precious time.

You can mentally return to the problem in the New Year. Don't let it spoil your Christmas. It may be that it turns out in the New Year that you worried unnecessarily. 🙂

Worrying is like sitting in a rocking chair, furiously rocking, and expecting to go somewhere.

Just give yourself a mental break from all of this and enjoy precious time with family and friends.

I do appreciate it is easier said than done, but some things - like family time - are more important than problems which can and will be solved.

Seasons greetings to one and all!

Richard Kent

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9:52 AM, 22nd December 2013, About 11 years ago

Reply to the comment left by "Vanessa Warwick" at "22/12/2013 - 09:46":

I'm sure we all love and yet sometimes tire of impassioned speeches. That one sounded rather matriarchal. 🙂

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9:56 AM, 22nd December 2013, About 11 years ago

I am sorry you feel like that Richard.

It was born out of my own experiences. I wish someone had said that to me on more than one occasion.

And I am certainly not a matriarch! , I've only been involved in property as a landlord for ten years, which still makes me a newbie in my eyes ....

However, if it sounded matriarchal to you, then please accept my apologies.

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