West Bromwich Building Society Tracker Margins Legal Action

Just in case there is any doubt, and because I also want to keep up the momentum to show that things are moving and some people are putting their money where their mouth is, I and my wife posted off our paperwork to Justin, together with 3 x £240 (£720 in total) for the three mortgages we have with WBBS last week.

I notice how the figure given, at 81 is 'cases' or 'people', but wouldn't it be better to state the number of mortgages, as this would be a much higher figure then - assuming you there isn't a deliberate under reporting, as it were, for whatever reason?

I have notified my former property investment group, of the monthly meet I ran and hosted; and some of them have their own databases of other landlords. So I HOPE this has resulted in some extra support for 118. I know a handful came back to me and said they would support the cause, but I'll never know for sure. However, a couple were affected directly, and will definitely join. I can't for the life of me understand WHY some people, who will be affected in the long run, won't damn well DO something instead of letting everyone else do the work. On the other hand I noticed how few people even bothered to contact me when I stepped down from running the property networking group. Hardly any recognition for my time and effort. It was as if it was too much trouble to just reply to an e-mail. A few button strokes was all it took. So the lack of support, in the grand scheme of things, comes as no surprise!

However, I had HOPED that we'd get 10% motivated. Even if just 600 landlords joined this cause (not hard for them to do, is it?) then we'd be well placed to slaughter WBBS. I still think we WILL win though, and I HOPE we receive more compensation than it's costing us, which will be a poke in the eye for those who were cowardly, couch potatoes, leaving up to other proactive souls.

Thank you to all those who have contributed financially to this, and those who aren't directly affected, but are nevertheless joining the campaign. Good on you all!

Reply to the comment left by "Incensed Landlord" at "13/10/2013 - 19:44":

Unfortunately more people will sit back than do something. There will be freeloaders. That's why we have to get the 118 link to as many as possible. I think most people who are on here will have contributed. 81 of all the people on here I reckon is a good percentage. I doubt there are 160 different people reading these messages. So it will be an excellent take up That's why we have to get more people on this site. If anyone can do anything to get the link out there please do so.

Tv. Radio. Papers. Watchdog. Property websites. Agents website.

Every extra person will help.

Dean

dean
You said on an earlier post that the PM contacted the Treasury, would it not be a an idea to do the same ? contact house of Lords or any other Government body all worth a try anything to spread the word go to the top & work your way down.

Reply to the comment left by " " at "13/10/2013 - 20:50":

Hi Dean

It's worth noting that that was only the first weeks numbers since then I among what appears to be 20 plus other landlords (and therefore ??? morguages between them) have sent documentation and fees, and thats without the people who dont comment on here.....

Reply to the comment left by "ian " at "13/10/2013 - 21:06":

I have done PM. Chancellor. Clegg. Bank of England . Miliband
FCA. My MP. Plus the MPs that represent the areas I have properties in. And MPs in west brom. Unfortunately only my MP can represent me. That's why I keep banging on to everyone about contacting their own MP. Plus watchdog. I've emailed every week so far. Papers I've done every decent one. Radio 4.

But if there are only a few of us doing this they won't take any notice. We need everyone contacting them. Especially watchdog. They have run a part on Clydesdale bank. So why won't they run one on west brom. They will if enough keep emailing them.

Dean

Reply to the comment left by "Kevin Jeffery" at "13/10/2013 - 21:16":

Hi Kevin.

That's great to hear. I'm not knocking 81. Or anyone on here. We are the ones doing something. I think more will come on board. I reckon there is a good percentage on board who are on here. We need more of those 6700 to know about 118. Then the numbers will rise. I only know about it cos I get emails most days. If I didn't I think I'd be writing to all these people thinking I'm on my own. I reckon there will be a lot in that boat feeling helpless. That's why as a group we need as many of us putting the word out. I've emailed all my landlord clients and asked them to get on here.

Dean

As time goes on and the story disappears completely from the media it is near impossible to get the needed momentum. There needs to be a massive drive quickly or forget it, its lost. Also people donating money need to know they will get it back if it doesn't go ahead and not sucked up by solicitors who are the usual winners what ever the outcome.

Reply to the comment left by "Simon Jones" at "13/10/2013 - 23:02":

I don't know about individual circumstances here, but I have put my faith behind this campaign as I know the only way to get a result is through the court. We really need to get behind this campaign otherwise we not only allow WB to walk all over us, but loose substantial amount of money as well.

May I also point out that this mortgage deal (Life tracker - BBR +0.89%) is very unlikely to be available ever again as all new loans are tied directly to the respective banks SVR...

To me spending few hundred pounds to get thousands back, not only make financial sense but would also bring satisfaction knowing that we might have forced all banks in the future to be more open about what they are actually selling people...

Reply to the comment left by "Concerned Landlord" at "14/10/2013 - 09:07":

I agree totally with the above two comments. We have to keep momentum going.

But that is not us keep posting on here. We need more people to visit this site.

There are 6700 landlords . Only around 100 have signed up here. On the face of it that is very poor. But i reckon less than 200 people are visiting this thread. So the take up is fantastic.

But we need more . I reckon we need a 600 take up. If you say the average mortgage is 1.25 per take up that would be

£200 x 1.25x600 x 90% = £135000. That must be enough for a good start to a legal case.

So all we can do at the moment as a group is try our best to get the 118 property website known to as many of those remaining 6700 as possible.

A group of us have contacted all the landlord associations so hopefully something will come of that over the next 2 weeks.

If you are in an association. Contact the group leader and ask they mail shot all members and /or put it on their website. Also put it on the next meetings agenda.

Mark indicated that when he gets back he intends to try and sort some form of mail shot to all Brokers. They will know who they sold WB B2Ls to. They will probably also be dealing with disgruntled landlords daily. Hopefully they will pass on the 118 details. Although some may see it as an opportunity to sell a new mortgage !
I still think we should ask our brokers to put their PI insurers on alert. That might focus their minds. In the meantime everyone should call their broker and ask that they tell all their WB customers to visit 118.

Ive emailed and written to every credible newspaper. But if more did that it becomes a story and not just a few peoples gripe. I have a web address for their websites and addresses
http://en.wikipedia.org/wiki/List_of_newspapers_in_the_United_Kingdom.

Each week we should all email Watchdog. Ive done it three times so far. Again at the moment its just a few people griping on. If all 81 email today and every Monday until we get a mention it becomes a credible story for them. They have already run a peice on Clydesdale Bank.
watchdog@bbc.co.uk

One peice on Watchdog and we should hit another 1000 people on this site easily . If half take it up we are there. So please everyone who as signed up email them today. For those who havent signed up email them twice from two different email addresses and then please sign up. Its £240 versus 20 years of £200 per month = £48000 !!! It has to be worth the punt ??

If you are an agent with a web site please put a link to 118 on your site. Also drop an email to all your landlords with the link please.

If you have a contact at Rightmove, Zoopla etc please ask them to add the 118 link. Every additional person is a bonus, plus they may know one other. It needs to snow ball.

Thanks Dean

PS MPs list. If you havent already drop them a line ASAP . One mention from an MP will get more visitors to 118

http://www.parliament.uk/mps-lords-and-offices/mps/#nav-W

Just another tuppence worth.
As has been said "n" people does not equate to "n" mortgages. Being the owner of the famous "6" mortgages and having paid the requisite cheque for not an inconsiderable sum (£240 * 6 !) The money will be above "n" * £240
BUT that does not mean we don't need more people so KEEP SHOUTING! tell the world,MP (lots of them) more landlords and,
excellent work to all those who heard Mark's appeal for help with the phone calls and e-mails.