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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Mark Alexander - Founder of Property118

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17:47 PM, 13th January 2014, About 11 years ago

Reply to the comment left by "Denise D" at "13/01/2014 - 17:42":

Happy birthday for yesterday Denise.

We also share birthdays with all these famous people >>> http://www.famousbirthdays.com/january12.html 🙂
.

Paul Sotheran

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17:52 PM, 13th January 2014, About 11 years ago

Reply to the comment left by "Onslow Clough" at "12/01/2014 - 00:00":

Hi Onslow

you can add my MP Iain Wright to our list of supporters. He is MP for Hartlepool, Constituency Office, 23 South Road, Hartlepool, TS26 9HD.

He commented to the response he received from Mr Sajid javid MP "I trust you will be dissapointed with the reply as it is not helpful and is if I may so a little patronising in places"

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17:57 PM, 13th January 2014, About 11 years ago

Reply to the comment left by "Onslow Clough" at "12/01/2014 - 00:00":

Onslow

My MP Rehman Chishti was helpful so I think we can continue to rely on his support.

Onslow Clough

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18:12 PM, 13th January 2014, About 11 years ago

Thank you to everyone who has sent me the details of sympathetic MP's. I have 14 so far which is great... I will send these details on to Jason McCartney MP. To be honest I don't know how useful this exercise will be but if we can get enough MP's talking then who knows, it certainly can't be a bad thing.

If there are any more MP's, let me know and I will send them on.

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18:19 PM, 13th January 2014, About 11 years ago

I agree with Mark and had already planned to write to Hugh Robertson outlining my concerns again and mentioning I have given his name to you and why

ROSEMARY BOSWORTH

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18:21 PM, 13th January 2014, About 11 years ago

Might be useful to list the MP's names so we can pass them to our MPs when in contact so they know the extent of interest and support.

Devon Landlords

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18:23 PM, 13th January 2014, About 11 years ago

Our MP is David Heath and Peter has written to him twice already - he has been unhelpful and dismissive so far - we think this is due to his imminent retirement. Peter will write to him again stressing the interest and help of other MPs to see if this can energise him and possibly motivate him into doing anything.
Happy Birthday for yesterday Mark & Denise! 🙂 Di

Gary BTLowner

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19:34 PM, 13th January 2014, About 11 years ago

Where have the Investors Chronicle got their facts from, I think this is a bit misleading and hardly encouraging for those reading it who are thinking of joining the campaign.

"The other option is to stump up £240 and join the action being organised by The Law Department. So far, not many landlords have gone down this route, but it's worth noting that if any legal action is unsuccessful, it might give lenders cart blanche to set rates wherever they like."

Paul Eastabrook

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19:38 PM, 13th January 2014, About 11 years ago

Reply to the comment left by "David Lawrenson" at "13/01/2014 - 16:49":

Very well done, David. That is one of the most encouraging, if not the most encouraging, article I've seen from such an august publication since this whole sorry business started.

ian

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21:16 PM, 13th January 2014, About 11 years ago

When this goes to court & if we win how many times can WB appeal, is it only once or can they just burn out our funding?

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