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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All BankersAreBarstewards Smith

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17:42 PM, 11th January 2014, About 11 years ago

Reply to the comment left by "Dean " at "11/01/2014 - 17:35":

that would be like asking your MP to not accept the recent proposed MP pay rise - i wrote to mine twice asking if he was going to forfeit it - no response to either letter......

Richard Adams

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17:45 PM, 11th January 2014, About 11 years ago

Reply to the comment left by "Dean " at "11/01/2014 - 17:35":

Won't happen. Not what MP's do. Waste of time anyway as WB Board would never in a million years give any such undertaking.

I keep saying this matter is very satisfactorily done and dusted now thanks to Onslow whose MP will lead request for a debate. That's what we want out of this. If we continue to urge our MP's individually to do this and that it will possibly cheese them off.

Let Jason - Onslow's MP - get on with it. Down to him now.

Onslow Clough

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18:25 PM, 11th January 2014, About 11 years ago

Reply to the comment left by "Richard Adams" at "11/01/2014 - 17:45":

Trying to generate a debate in Parliament is clearly the right way to go but I think it would be wrong and unfair to expect Jason McCartney to get on with it. We must make life easy for him, he has offered to help and it is a genuine offer but I think it is our responsibility to do the donkey work. He may well lead a request for a debate but it is up to us as a forum to get a list of sympathetic MPs for him to debate with.

If people want to send me the names of their MP's who are interested in helping I will gladly forward the details to Jason. Then we can get the ball rolling.

Dean

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18:32 PM, 11th January 2014, About 11 years ago

Reply to the comment left by "All BankersAreBarstewards Smith" at "11/01/2014 - 17:42":

I don't agree. I think that question should be put to the board. If its shown in court they have breached contracts and led the society into a court case then it follows they are unsuitable to lead the society and should do the honourable thing and step down. Someone needs to put that to them. They are incompetent and should not be in charge.

Richard Adams

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22:07 PM, 11th January 2014, About 11 years ago

Reply to the comment left by "Onslow Clough" at "11/01/2014 - 18:25":

Trouble with any forum it is easy to be misunderstood. Believe me Onslow there is zero donkey work for any of us to do now period. Jason M feels strongly enough God Bless Him to try and take this forward in Parliament. What he has asked for are names of other sympathetic MP's who he - not us - will invite to support him. That is the way it works.

You have given him the background info. Should he need more then it will surely be provided. He will then progress the matter along Parliamentary lines. Us huffing and puffing in the background will achieve nothing.

Other than us providing MP names which only a few of us have yet done there really is no "donkey work" for us to do.

It is quite fair to ask our MP's to listen to our problems and they are paid to listen and represent us. I repeat there is no donkey work for us to do.

Richard Adams

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22:20 PM, 11th January 2014, About 11 years ago

Reply to the comment left by "Dean " at "11/01/2014 - 18:32":

Dean, nobody does the decent thing any more in this sort of situation. If you seriously believe that a letter to them now along lines you suggest has a cat in hell's chance of being replied to like "we shall resign if the court case is lost because it will clearly indicate we are not fit to continue in office" you are deluding yourself.

But go ahead if you fancy it. Certainly no MP would do so because it would be a waste of a stamp.

After we have won it will be a different kettle of fish. One would hope their resignations will be demanded at the next AGM. But they will probably wriggle out of accepting any blame even then.

Onslow Clough

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22:24 PM, 11th January 2014, About 11 years ago

Reply to the comment left by "Richard Adams" at "11/01/2014 - 22:07":

I understand what you are saying Richard but my point is, it is up to us to supply the list of sympathetic MP's that Jason can invite to support him. Ultimately the more information we provide and the easier we make it, the more likely we will get full support.

Dean

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22:35 PM, 11th January 2014, About 11 years ago

Reply to the comment left by "Richard Adams" at "11/01/2014 - 22:20":

Richard. I am absolutely certain my MP will ask the question of the board as to whether they will resign if this goes against them in court.

I don't think for one second that they will put in writing that they will. My reasoning is that I would like to see a number of MPs putting it in writing to them so they realise that their illegal immoral actions should have some financial consequences to them and that they can't just go around ripping people off under a corporate banner with no come back at all.

Colin Childs

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22:48 PM, 11th January 2014, About 11 years ago

Reply to the comment left by "Dean " at "11/01/2014 - 22:35":

Personally I think you are way off track with your line of thinking. If you wish to express your personal objections then attend the AGM.

Dean

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22:59 PM, 11th January 2014, About 11 years ago

Reply to the comment left by "Colin Childs" at "11/01/2014 - 22:48":

Off track with my line of thinking ?

So if its shown that west brom directors have acted illegally by breaching these contracts they should resign .

You don't think that that's a reasonable thing to think ? Or put to them in advance ? I don't think for one second they will volunteer to do that. I don't think they would have the decency to do so if they lose. But I can't see why thinking that they should is wrong. Or suggesting it on this site is wrong. Or asking my MP to put that to them is wrong.

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