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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9:35 AM, 23rd January 2014, About 11 years ago

Another quick reminder to all.

At 10am today I am having a telephone conference with Justin Selig, his litigation colleague, our QC and Mark Smith (Barrister-At-Law) to discuss our ongoing legal strategy. The outcome of that tele-conference will NOT be reported here as the strategy will be legally privileged to those clients who have instructed Justin. I will, however, share an overview of the details with our most prolific campaign supporters who are not directly affected (e.g. Annette Stone and Ed Atkinson) by telephone.

Please note Justin's latest Legal Action Update >>> http://www.property118.com/west-bromwich-building-society-mortgage-company-increase-tracker-margins-legal-action/43657/comment-page-311/#comment-35506
.

Mark Alexander - Founder of Property118

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9:45 AM, 23rd January 2014, About 11 years ago

To make a donation to the marketing fund please see >>> http://www.property118.com/much-appreciated/
.

Onslow Clough

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10:47 AM, 23rd January 2014, About 11 years ago

I notice the Early Day Motion has now been logged. Does anyone know what happens next? So far 3 MP's have signed up. Is the motion dependent on how many more sign up to it?

Craig Beveridge

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11:00 AM, 23rd January 2014, About 11 years ago

Reply from my local MP for Edinburgh West Mike Crockart

"I’ve just signed this EDM. It may take a few days to be updated.
I also recently asked a related question to BISI intend to follow this up with details of the poor practices that have been reported to me including those carried out by the West Bromwich Building Society and others.

I’ll keep you updated on the results."

Thanks for getting in touch.

Mark Alexander - Founder of Property118

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11:54 AM, 23rd January 2014, About 11 years ago

Reply to the comment left by "Onslow Clough" at "23/01/2014 - 10:47":

Hi Onslow

How did you find it?

I used the link posted here yesterday and I still can't see it.
.

Paul Eastabrook

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12:05 PM, 23rd January 2014, About 11 years ago

Googling EDMs worked for me earlier this morning. It took me to http://www.parliament.uk/edm and voila!

Richard Kent

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12:36 PM, 23rd January 2014, About 11 years ago

Mark,
I can see your EDM here:

http://www.parliament.uk/edm/2013-14/by-number

I hope this motion is debated.

Great news for you guys!

As usual, I'm following with interest.

I'll send an email to my councillor Andrew Cartwright.

Onslow Clough

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13:16 PM, 23rd January 2014, About 11 years ago

Reply to the comment left by "Mark Alexander" at "23/01/2014 - 11:54":

As the previous have said, i followed the link.

Squid

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13:26 PM, 23rd January 2014, About 11 years ago

I wrote to Graham Brady MP (Altrincham & Sale West), and was fobbed off.
I have now emailed him asking for support for EDM976, a cause which becomes more 'high profile' by the day.
I've also donated to the marketing fund.
It seems that West Brom are no longer having things 'all their own way'.
Keep up the good work all.

Norfolk n'Chance

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13:27 PM, 23rd January 2014, About 11 years ago

Reply to the comment left by "Richard Kent " at "23/01/2014 - 12:36":

I hope its debated as well HOWEVER......here's the response from my MP JOHN BARON:

EDM 976
Thank you for your email and for bringing this EDM to my attention.

However, I am now not signing EDMs even if I agree with their wording. My 10 years experience as an MP suggests that they are rarely debated in the House of Commons, are far too many in number and Ministers pay them little regard. Furthermore, the cost of administering EDMs – about 15 new ones are added every day when Parliament is in session – is approximately £1 million a year. In these austere times, I am sure this money could be better spent.

Instead, I find a far more effective course of action is to raise the issue with Ministers directly. I have therefore written on your behalf and will get back to you as soon as a response is received

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