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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Andy Bell

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14:27 PM, 6th February 2014, About 11 years ago

Another signatory to the EDM - Natascha Engel (MP. North East Derbyshire and chair of the Back Bench Business Committee)

Devon Landlords

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14:30 PM, 6th February 2014, About 11 years ago

Reply to the comment left by "Devon Landlord" at "06/02/2014 - 12:56":

Hi Devon Landlord,
Have you got a copy yet? - if not I can have a go with my scanner - I am not very good with it so it might end up being emailed one page at a time though! lol! 🙂 Di

Mark Alexander - Founder of Property118

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14:31 PM, 6th February 2014, About 11 years ago

Reply to the comment left by "LS " at "06/02/2014 - 14:07":

Excellent, at least he’s done some research and taken the trouble to write you a long letter.

The fact that much of his response is wrong is by the by at this stage 🙂

You now have an opportunity to write back to him, thank him for his research and ask him to consider the briefing note which has lead to 39 of his peers signing the EDM, calling for a 90 minute debate and lobbying both the Chancellor and other Treasury Ministers.

PDF here >>> https://www.property118.com/wp-content/uploads/2014/02/Tracker-Rate-Campaign-Briefing-Notes-for-MPs.pdf
.

Devon Landlords

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14:40 PM, 6th February 2014, About 11 years ago

Reply to the comment left by "Devon Landlord" at "06/02/2014 - 12:56":

Hello again Devon Landlord,

The scanning proved to be much easier than I thought! I have done it and e:mailed to you now!

Di 🙂

Devon Landlord

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14:42 PM, 6th February 2014, About 11 years ago

Reply to the comment left by "Peter & Di Cole" at "06/02/2014 - 14:30":

Hi Di,

I have not yet managed to aquire a full copy. Andy Bell has kindly sent a link to the key pages but I would prefer a full copy if possible. I would very much appreciate it if you are able to help me. 🙂

Alex (Devon Landlord).

Devon Landlord

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14:43 PM, 6th February 2014, About 11 years ago

Reply to the comment left by "Peter & Di Cole" at "06/02/2014 - 14:40":

You are a star Di.

I owe you one.

Kind regards
Alex

Dean

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14:44 PM, 6th February 2014, About 11 years ago

Reply to the comment left by "Richard Adams" at "06/02/2014 - 14:24":

Ok Thanks Richard

Im thinking something along the lines of the Energy Companies . It would be nice but improbably I guess.

Maybe if West brom go belly up and start asking for tax payer handouts ?

Richard Adams

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14:53 PM, 6th February 2014, About 11 years ago

Reply to the comment left by "Dean " at "06/02/2014 - 14:44":

Energy Companies were called to appear before the relevant Select Committee when they upped their prices late last year.

Same thing over the phone hacking scandal when Murdoch and others got grilled. Plenty of other recent examples. Plebgate was another. While our issue is massive for us whether the Treasury Select Committee would order WB to appear is doubtful?

Mark Alexander - Founder of Property118

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14:55 PM, 6th February 2014, About 11 years ago

SECURE FORUM UPDATE

We are now in final testing mode and expect the forum to go live tomorrow morning.

The Law Department will be sending paid up members a link to the secure forum tomorrow afternoon.

The first post will be details of the venue for the meeting on the 27th.

The second post will be from me and will explain the agenda.

The third post will explain why we chose the strategy which was emailed to all paid up members by The Law Department.

The fourth post will also be from me and will explain some critical decisions which need to be made.

As you will appreciate, the secure forum will contain vital information for paid up members so please register as soon as practically possible after you receive the email from The Law Department.
.

Lucy McKenna

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15:08 PM, 6th February 2014, About 11 years ago

Reply to the comment left by "Mark Alexander" at "06/02/2014 - 14:31":

Thanks Mark, will do.
I looked at the list of EDM’s (we have more signatures than most which is good) looking at the signatories on many of them, it does seem to bear out the principle that the conservative party do not sign EDM’s in general, not just ours.

http://www.parliament.uk/business/publications/business-papers/commons/early-day-motions/edms-by-number/

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