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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Badger

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13:58 PM, 7th February 2014, About 11 years ago

Quote from Nick Sabin assistant to Angie Bray MP in reference to Sajid Javid:

"We’ll be in touch when Angie has managed to collar him."

(Arrghhh... my fingers want to keep typing 'David'! 🙂 )

Badger

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14:00 PM, 7th February 2014, About 11 years ago

And of course I will be back in touch with the forum as soon as I hear from Angie & Nick.

Let us hope that it will be soon.

🙂

Mark Alexander - Founder of Property118

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14:10 PM, 7th February 2014, About 11 years ago

Reply to the comment left by "Badger " at "07/02/2014 - 13:58":

OOPS! indeed, I've been making exactly the same mistake and am probably guilty of influencing you to do the same.

I have now corrected the article and created a new PDF. Sadly I can't overwrite the old PDF link so the new version has a new link, see >>> https://www.property118.com/wp-content/uploads/2014/02/NEW-Tracker-Rate-Campaign-–-Briefing-Notes-for-MP’s.pdf
.

Mark Alexander - Founder of Property118

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16:05 PM, 7th February 2014, About 11 years ago

SECURE FORUM

It's now live but as it's 4pm on a Friday I'm not going to share the registration link until we have done a bit more testing this weekend. This is because we will not be able to get any bugs fixed until our IT developer returns on Monday. We are nearly there I promise you and it looks and seems to work great. Thanks again for your forbearance.
.

AnneJ

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16:23 PM, 7th February 2014, About 11 years ago

Just received this positive reply from Mark Durkan MP 🙂

"Thank you for contacting me about the Tracker Rate Campaign and the issues highlighted in EDM 976.

I have just been appointed to the Public Bill Committee for the Consumer Rights Bill. This issue is likely to be prominent among the proposed amendments to that Bill. Indeed I see that the Bank of Ireland have issued a statement criticising a Select Committee’s endorsement of the idea that this might be the focus of a relevant amendment to the Bill.

I would of course be supportive of a debate courtesy of the Backbench Business Committee. However it would be even more pertinent if government backbenchers move fully behind a competent amendment to a current bill."

Lucy McKenna

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16:38 PM, 7th February 2014, About 11 years ago

Reply to the comment left by "Anne Jackson" at "07/02/2014 - 16:23":

Wow Anne, this looks very good news, it is really good to know there are people out there that are concerned for all consumers and that includes us. I am hoping that BOI forum people all look at the WBBS forum too.

Mark Alexander - Founder of Property118

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16:44 PM, 7th February 2014, About 11 years ago

Reply to the comment left by "Anne Jackson" at "07/02/2014 - 16:23":

Hi Anne

Great news indeed!

As LS says it might be an idea to post this on the BoI thread too 🙂

Would Mark Durkham be able to send us the details of the document that BoI have criticised and the BoI's response do you think?

If you can get this emailed I will be able to host it on Property118 severs and privide a link here.
.

Mark Landlord

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16:52 PM, 7th February 2014, About 11 years ago

Reply to the comment left by "Anne Jackson" at "07/02/2014 - 16:23":

Great response from this MP Anne.

Well done!

Notice that you are based in the North East - so are we ! 🙂

Dean

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16:58 PM, 7th February 2014, About 11 years ago

Reply to the comment left by "Anne Jackson" at "07/02/2014 - 16:23":

That looks a fantastic response Anne. Just shows we do need to keep pressing our MPs. I'm going to ask a few close friends if they will email their MPs about the EDM. Even though they are not affected. Surely if we can push the number up to the 70s+ our chances of having a 90 minute debate have to be significantly increased ?

Marshie Cyrus

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20:29 PM, 7th February 2014, About 11 years ago

Hi Mark,
I know this has been covered a few times, and very recently by Denise. However please advise me on how to switch of the email notifications. I have unticked the box in my profile and unticked the boxes underneath when I've left recent posts, my inbox is still filling up.
Thanks in advance.

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