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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Lucy McKenna

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22:39 PM, 22nd January 2014, About 11 years ago

Reply to the comment left by "Mark Alexander" at "22/01/2014 - 22:19":

Thanks Mark, I agree. I will be able to say something sensible using this.

chrisbusy

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7:02 AM, 23rd January 2014, About 11 years ago

HI All Stephen Crabb Pembrokeshire Mp E mailed EDM details etc.

Mark .. i have obviously paid into the litigation fund but would like to assist with your call for marketing funds as we are now in a different league to previously but I am currently locked out of on line banking so how could i submit money to you ..only a small donation at this stage ( new mortgage hike and tax bill looming ! ! ) but i am sure every little helps and worth every penny i might add .

Mark Alexander - Founder of Property118

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8:10 AM, 23rd January 2014, About 11 years ago

Reply to the comment left by "chrisbusy " at "23/01/2014 - 07:02":

Hi Chris

Please contact Neil Patterson for our bank details - tel 01603 489118 or email npatterson@property118.com

You could also make a donation by cheque but these can be inconvenient as we work from our homes and don't like to give out our home addresses. Cheques can be forwarded to our registered office address which is at our accountants but they charge us to deal with post.
.

chrisbusy

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8:14 AM, 23rd January 2014, About 11 years ago

Thanks Mark

Will do .

Les

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8:42 AM, 23rd January 2014, About 11 years ago

Just Emailed Alan Campbell MP for Tynemouth, will also hand deliver letter to his local office this morning.

All BankersAreBarstewards Smith

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8:52 AM, 23rd January 2014, About 11 years ago

Reply to the comment left by "chrisbusy " at "23/01/2014 - 07:02":

Why not get Marks bank details and then pay in some cash at your local bank - the old fashioned ways still work !!

Mark Alexander - Founder of Property118

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8:55 AM, 23rd January 2014, About 11 years ago

CONTACTING MP'S

The support over the last 24 hours has been overwhelming, well done to all 🙂

I have found the best time to get hold of MP's is after 4pm or at lunchtime.

PLEASE remember to follow up your electronic communications with a telephone call and be prepared to re-send your communications. All you are seeking is an agreement to support EDM976, it takes no more than a couple of minutes for your MP to read and action this so please keep on to it.

If you can't contact your MP then speak to their aide, they tend to be very helpful and knowledgeable people.

Remember, they want votes and PR so play on this. Perhaps their aide could obtain a quote from your MP? You could then publish that quote here and the press will no doubt pick up on it.

Many MP's use Twitter, I suspect some of the accounts are run by their aides. When they agree to support the EDM ask them to tweet their report and add cc @iAmAlandlord to their tweet. I will then pick up on this and add the tweet to this feed so lots of us can re-tweet. They will see these and begin to recognise the power of our collective PR. I also have several press contact monitoring my Twitter accounts so they will also pick up on which MP's are supporting this campaign and EDM976.

The marketing fund grew by £990 yesterday. It's a decent start but a lot more support is required to fund all of the meetings I think this campaign needs and deserves. Therefore, please help to spread the word on this to other landlords, whether they are affected or not today makes no difference. They can look upon their donation as an investment into their tracker mortgage rates not being hiked in the way ours have.

Finally, thank you to all who have made generous donations to the marketing fund already 🙂
.

Mark Alexander - Founder of Property118

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8:57 AM, 23rd January 2014, About 11 years ago

Reply to the comment left by "All BankersAreBarstewards Smith" at "23/01/2014 - 08:52":

Just to confirm, the money will not touch my bank account. It is all held in the client account of Innovative Landlord Solutions LLP.

Paying cash into that account is an option but please let Neil know if you do that because he needs to maintain an audit trail.
.

chrisbusy

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9:13 AM, 23rd January 2014, About 11 years ago

Reply to the comment left by "All BankersAreBarstewards Smith" at "23/01/2014 - 08:52":

Yes thats a great idea as i think we all need to give a vote of thanks and support by doing exactly this ..one way or another ..come on everybody who has not yet dug into their pockets .....Time to give this effort its big and maybe final push before the legal beagles take over !

Mike L

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9:30 AM, 23rd January 2014, About 11 years ago

Hear! Hear! chrisbusy 🙂

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