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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16:09 PM, 29th January 2014, About 11 years ago

Reply to the comment left by "Richard Kent " at "29/01/2014 - 15:59":

I like your thinking!
.

The Man From Nowhere

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16:29 PM, 29th January 2014, About 11 years ago

Reply to the comment left by "Mark Alexander" at "28/01/2014 - 09:40":

Hi Mark,

Are you able to elaborate a little on this bigger, better, opportunity that has presented itself or would it be better discussed on the secure forum?

Mark Alexander - Founder of Property118

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16:37 PM, 29th January 2014, About 11 years ago

Please see the comment I posted earlier today >>> http://www.property118.com/west-bromwich-building-society-mortgage-company-increase-tracker-margins-legal-action/43657/comment-page-338/#comment-36304

We may be able to discuss these things on the secure forum (subject to the MP's agreement of course) which may even be ready by the weekend I'm told 🙂

Ju Stacey

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16:42 PM, 29th January 2014, About 11 years ago

I have had a reply letter from my MP, Wayne David, Labour MP for Caerphilly.
He is Parliamentary aide to Ed Miliband, so informs me of things he can't do as he is not a backbench MP.
I'd pointed him to David Lawrensen's open letter to Andrew Tyrie and to this website and he said he'd read the letter and looked here.
He finishes by saying "I will look out for the debate if my Parliamentary colleagues are successful in their application. Thank you once again for bringing this important issue to my attention"

Mark Alexander - Founder of Property118

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16:50 PM, 29th January 2014, About 11 years ago

Reply to the comment left by "Ju Stacey" at "29/01/2014 - 16:42":

Would he be prepared to apply for a debate and ask Ed Milliband to comment on EDM976?
.

Onslow Clough

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16:51 PM, 29th January 2014, About 11 years ago

Reply to the comment left by "Mark Alexander" at "29/01/2014 - 16:37":

Mark, with regard to the secure forum site, is it worth having a final rallying call for anyone out there who is still thinking about joining the campaign. I say this because i imagine when a secure site goes live that will be where the majority of this discussion thread will go and any fence sitters will stop seeing how strong our campaign is becoming.

Mark Alexander - Founder of Property118

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16:55 PM, 29th January 2014, About 11 years ago

Reply to the comment left by "Onslow Clough" at "29/01/2014 - 16:51":

The secure website will exist only to discuss privileged and sensitive legal matters, all other posts will be removed and the person adding them will be requested to re-post here on the open forum.
.

Badger

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16:56 PM, 29th January 2014, About 11 years ago

Reply to the comment left by "Onslow Clough" at "29/01/2014 - 16:51":

I'm sure that there will be many out there who could be gently nudged into signing up now that they can see the hand approaching the door to slam it shut.

A few days more - with a clearly defined end date - will likely pull in quite a few waverers it seems to me.

Ju Stacey

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17:03 PM, 29th January 2014, About 11 years ago

Reply to the comment left by "Mark Alexander" at "29/01/2014 - 16:50":

Mr David said ".. and therefore I am not a backbench MP. As a result I am not able to nominate subjects for these debates"

I shall reply and ask if he can bring it to Ed Milliband's attention.

Onslow Clough

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17:05 PM, 29th January 2014, About 11 years ago

I think therefore in view of all the incredibly positive things that have happened these past couple of weeks any one out there who is thinking of joining then DO IT, DO IT NOW. and bear in mind it is totally in your interest, we don't need you.

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