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 Landlord

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13:42 PM, 15th October 2013, About 11 years ago

Wondering if the West Brom might be getting a bit bogged down with all the letters etc as I still haven't had a response to my 1st letter to them sent a week ago on Saturday requested the relevant docs ?

Mark Alexander - Founder of Property118

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13:57 PM, 15th October 2013, About 11 years ago

PUBLICITY STUNT ???

I'm not sure whether this is a good idea or not but I will float the idea anyway to see how it develops.

What can we do as a publicity stunt which would encourage wider media reporting on TV, radio, regional and national press?

The idea I've had so far is to organise a lunchtime protest outside one of the busiest West Brom BS branches, then invite all media to cover the story. I'm thinking megaphones, placards, leaflets etc.

Messages could include:-

West Bromwich Mortgage Company are cheating me
Our mortgages should track base rates
Stop hiding behind small print
Say no to illegal interest rate rises

Thoughts please?
.

Neil Gallagher

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14:21 PM, 15th October 2013, About 11 years ago

I received the email from Justin relating to the potential next step for legal action. He stated that we need to pay £240 per mortgage and I wrote back to ask a few questions relating to my thoughts surrounding this. I haven't had a response and as such I don't know what is happening with this as this email was just over a week ago. I know he is very busy and doing this off of his own back but could we have another update please?

Thanks

Neil

Jackie Kay

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14:27 PM, 15th October 2013, About 11 years ago

Reply to the comment left by "Mark Alexander" at "15/10/2013 - 13:57":

Great idea Mark! one way of getting this out there, certainly will attract more people

Yes written to West Brom, just emailed north west landlords associations, also in letter form too.

Mark Alexander - Founder of Property118

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14:35 PM, 15th October 2013, About 11 years ago

Reply to the comment left by "Neil Gallagher" at "15/10/2013 - 14:21":

Hi Neil

It is unlikely that Justin will respond to you directly as we are not using funds raised for that purpose. Note that Justin charges £250 per hour plus VAT so if he were to respond to every email and telephone call we would be spending money with him faster than we are raising it.

Please see my latest update here >>> http://www.property118.com/tracker-rate-class-actions-update/44117/

If you have remaining questions which have not already been answered please post them on this forum.
.

Devon Landlords

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14:56 PM, 15th October 2013, About 11 years ago

Reply to the comment left by "Mark Alexander" at "15/10/2013 - 13:57":

We think this is a brilliant idea Mark and would be more than happy and willing to take part! It would really get it out there in the media - the sooner the better!!

Dean

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15:05 PM, 15th October 2013, About 11 years ago

Reply to the comment left by "Mark Alexander" at "15/10/2013 - 13:57":

Good idea Mark

Can I hold up the one with the Chairman of West Bromwich nailed to the horizontal plank while the vertical plank is wedged firmly up his as soon as possible for me too !!

Dean

David Ellis

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15:52 PM, 15th October 2013, About 11 years ago

We have recently returned from holiday and just posted off our £240 and paperwork to Justin. Gosh there has been an awful lot of action taken by our members while we have been away. Received a reply this morning from WBBS to our complaint letter sent over 2 weeks ago. It was from Holly O'Sullivan Customer Relations Officer apologising for delay and was looking into our complaints and would reply in detail by 31st October 2013. Enclosed a leaflet about complaints and disputes. In bold letters on the front " A POSITIVE APPROACH TO COMPLAINTS" which was quite hilarious. No documents I requested enclosed which would suggest they are getting bogged down with complaints and photostating. Mark I have just read your report you have left today "Tracker rate Class Actions Update" which is excellent and should direct a lot more traffic to the web site. I think the publicity stunt to demonstrate outside a busy WBBS branch or even their Head Office is a great idea and would certainly help our support especially if well attended by the media. Off now to write to my MP Bill Cash.

Tony the hairdresser

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16:25 PM, 15th October 2013, About 11 years ago

Hello to everyone, the North West Landlords Association sent an email out to all its members last week advising us that a couple of its member had been affected by West Brom's decision and informing us all as well as posting a link to your forum.

Andy Bell

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16:35 PM, 15th October 2013, About 11 years ago

The publicity stunt idea got the creative juices flowing, a picture worth a thousand words and all that ...

Please feel free to use these, if they help in anyway. http://www.idostuff.co.uk/sections/Property/Mortgage/Image-trust-faith-in-banks.html

These are just a quick job from a stock image of mine, any thoughts for others and I'll see what I can do.

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