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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11:06 AM, 24th January 2014, About 11 years ago

Reply to the comment left by "Paul Eastabrook" at "23/01/2014 - 18:08":

Hi Paul, the FOS or FCA seem to be being very ineffectual , they didn't even take up the case of the BOI who didn't take the 3 property route. The BOI even targeted non buy to let people and people with just one buy to let property.

Mark Landlord

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11:07 AM, 24th January 2014, About 11 years ago

Reply to the comment left by "Dean " at "24/01/2014 - 10:22":

Totally agree Dean

Devon Landlords

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11:13 AM, 24th January 2014, About 11 years ago

After our unfruitful attempts by letter and e:mail to our MP, David Heath, we sent him e:mail two days ago re. EDM. Just received his response, as follows:

"As you probably know, over the last three and a half years I have been a Minister and not allowed by the rules of the house to sign Early Day Motions. Although I have recently left government, I have taken a decision that I will continue to apply that rule, and not, as a matter of course, add my name to EDMs.

EDMs in general simply express an MPs sympathy with a particular cause and can in no way affect legislation. Contrary to public perception, fostered by many interest groups, there is no mechanism by which their content is debated in parliament or has any influence on government decisions. Their worth is only in attracting attention to a key issue which might otherwise be overlooked, in the hope of prompting the government to look anew at an issue. My experience of many years in the House suggests to me, however, that EDMs are not the most effective way of making the sort of point you wish me to make on your behalf."

Not really surprising I suppose......he is just not bothered.

All BankersAreBarstewards Smith

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11:18 AM, 24th January 2014, About 11 years ago

Reply to the comment left by "Peter & Di Cole" at "24/01/2014 - 11:13":

i have emailed him also - and just got a fairly similar response to yours - But he ends with "I am more than happy to ask questions or intervene in debates where it is appropriate to do so, and I will readily write to ministers about a particular issue where it is necessary to push something to the top of their pending tray." How can we progress this type of involvement further i wonder ?

Richard Kent

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11:19 AM, 24th January 2014, About 11 years ago

Reply to the comment left by "Mark Alexander" at "24/01/2014 - 09:40":

Mark,

I've used your links in an email to my local Councillor Andrew Cartwright asking him to drum up interest regarding the EDM and he has suggested that I email Labour MP for Hastings and Rye, Sarah Owen, which I have now done.

I have asked her to sign the EDM and await her reply.

Hopefully her name will appear on the EDM signatory list soon.

Lucy McKenna

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11:20 AM, 24th January 2014, About 11 years ago

Reply to the comment left by "Peter & Di Cole" at "24/01/2014 - 11:13":

Peter and Di, he might have told you what the way is for him to make your point on your behalf and whether he is doing it.

Dean

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11:25 AM, 24th January 2014, About 11 years ago

Reply to the comment left by "Peter & Di Cole" at "24/01/2014 - 11:13":

Nor did he make any suggestion as to what the best way forward is either .

Like you say he is not bothered .

Ed Atkinson

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11:25 AM, 24th January 2014, About 11 years ago

Good response from my MP after a few days: John Howell (Henley and South Oxfordshire) "Thank you for your e mail. I am concerned that there may be another ‘banking scandal’ lurking and thank you for your work in highlighting it. I will speak to Jason ..."

I thanked him and pointed him to David Morris and EDM 976

Thanks John Howell

All BankersAreBarstewards Smith

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11:31 AM, 24th January 2014, About 11 years ago

Reply to the comment left by "Dean " at "24/01/2014 - 11:25":

"" “I am more than happy to ask questions or intervene in debates where it is appropriate to do so, and I will readily write to ministers about a particular issue where it is necessary to push something to the top of their pending tray."" David Heath made this suggestion to me... lets not totally 'dis' the man.....

Mark Alexander - Founder of Property118

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11:32 AM, 24th January 2014, About 11 years ago

Reply to the comment left by "Peter & Di Cole" at "24/01/2014 - 11:13":

I read this very differently.

If I were you I would write back to him and thank him for his advice and ask him what he thinks is the best way to progress this.

He's not telling us anything we don't already know really and the EDM is just one of our weapons.

We want as many MP's as possible to request a 90 minite debate so if he suggests this or anything else in his response you can write back to his expressing your eternal gratitude and asking him to commit to fulfil his own suggested strategy and/or lobby his peers to do so on your behalf 🙂
.

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