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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Lawrence Squid

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23:07 PM, 6th February 2014, About 11 years ago

Reply to the comment left by "Richard Kent " at "06/02/2014 - 22:33":

If you don't like it Richard, why are you involving yourself?
You don't seem to have anything constructive to say, and apparently no financial involvement either.

Richard Kent

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23:45 PM, 6th February 2014, About 11 years ago

Reply to the comment left by "Lawrence Squid" at "06/02/2014 - 23:07":

Well Lawrence,

I didn't want to argue this point to its end but just put some questions to the forum. 🙂

I hope I made that clear:)

I became involved because I can see the wider impact of the hike. 🙂

Does that mean I have to agree with every aspect of it?

Do you have to go along with it blindly and sometimes beyond that which is sensible?

I'll leave everyone to judge whether that's true or not.

If you look back at my posts you will see that I have had a lot of positive things to say.

You will also know I have contributed a lot of time to this.

I didn't see the notice which said that I had to be both a financial and time contributor. Maybe I missed that notice.

I'll leave you with that thought and catch up with the progress in a few weeks.

Richard Adams

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0:20 AM, 7th February 2014, About 11 years ago

Reply to the comment left by "Richard Kent " at "06/02/2014 - 23:45":

Richard

I've followed this thread and am really not clear what points you're trying to make?

Amongst the 3600 posts odd since last Sept there have been many suggestions about what actions should be taken. Many have been shot down and forgotten. There are many also that only some members have acted upon according to their skills, contacts etc. Personally I have felt some were not worthwhile so I have not got involved but if others wish to work on them that's fine with me. I am sure this goes for other members as well.

Then there have been actions we have been urged to pursue by Mark. All these have made sense but I'm equally sure if some members thought otherwise they will not have done anything.

So where is all this compulsion for us all to exceed the necessary etc that you refer to? This whole campaign though is like the proverbial mud against the wall analogy. The more you throw the more is likely to stick.

You seem to say we should be holding back now? Why? If members want to press ahead with more activity then why not as it can only do good. Mark is beyond criticism for exhorting us to do anything. Mostly we follow because we believe in him.

The Seasoned Female Investor

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8:55 AM, 7th February 2014, About 11 years ago

Like you Richard I have followed this forum site since the very inception of WB actions, at first being extremely cautious and sceptical of many comments the thread contained.

I decided to join the class action with two WB mortgaged, properties through informed information derived from this site, and this site only. It has been very, very apparent that a determined core have worked extremely hard both at the front line and behind the scenes to organize this action group.

The actions of Mark Alexander have totally amazed me with the amount of effort and more importantly TIME is has spent on this matter. For him, and his family this issue must be totally consuming his whole life at the moment.

Some people on here will have different views to him, some may be negative to the path taken so far. If we do have different opinions lets leave these to the secure site so as not to create negative thoughts for the many followers who are still looking at this site for encouragement and leadership.

Some like me will only post on this thread now and again, I have worked behind the scenes trying to get my MP John Whittingdale OBE to support the debate...so far no response....I will try again and again until I get an answer.

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9:27 AM, 7th February 2014, About 11 years ago

EDM up to 42

Mark Alexander - Founder of Property118

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9:41 AM, 7th February 2014, About 11 years ago

We are looking for testers and feedback for version three of our landlords calculator. If you would like to help please see >>> http://www.property118.com/landlords-calculator-version-3-in-testing/63488/#comment-37060
.

Mark Landlord

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10:58 AM, 7th February 2014, About 11 years ago

Morning all,

Email sent to my MP Stephen Hepburn (with Briefing Notes PDF attached) thanking him for signing the EDM and also asking if he would be prepared to support the call for a debate.

Will let you know how he responds.

Keep up the good work everyone

Marshie Cyrus

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11:00 AM, 7th February 2014, About 11 years ago

Reply to the comment left by "Dean " at "06/02/2014 - 22:29":

Hi Dean. It is Mr Nick Gibb, Conservative for Bognor Regis and Littlehampton. Although his major role in parliament seems to be education based, he was formerly a trainee accountant for one of the big banks so should hopefully be quite interested. His assistant is out of her office, however I've left a message with a colleague and have sent her a direct email to organise a meeting.

Lawrence Squid

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11:02 AM, 7th February 2014, About 11 years ago

Email sent to my MP Graham Brady (Altrincham & Sale West) with Briefing Notes link included. Thanking him for signing EDM976 and also asking if he would be prepared to support the call for a debate

Badger

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13:50 PM, 7th February 2014, About 11 years ago

Whoops - bit embarrassing!

I have just been picked up on my spelling of Sajid Javid's name by my MP's assistant.

I have to confess that I was taking my spelling from this forum which has been using 'David' as the spelling for his surname, without checking for myself.

And that is despite having recently read his Wikipedia entry:

http://en.wikipedia.org/wiki/Sajid_Javid

where the correct spelling is, of course, displayed clearly.

It is probably worth updating the briefing notes for MPs, as I note that the spelling error makes it into the pdf as well.

(Amazing that one can look at / read and not notice such a problem for so long... 🙂 )

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