ACT NOW to protect the margin on your YOUR tracker mortgage

ACT NOW to protect the margin on your YOUR tracker mortgage

13:57 PM, 24th September 2013, About 8 years ago 123

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Help us to protect YOUR tracker marginsIf you have a tracker mortgage you may be forgiven for thinking that your mortgage payments will only change when the base rate changes. 

Just suppose you open your post one day to find that your mortgage lender has decided to increase the tracker margin by a couple of percent!

Sounds unimaginable doesn’t it?

Well it isn’t, and you could be next!

This shocking news was recently delivered to 6,700 customers of the West Bromwich Building Society. What’s more, this is not something new, 13,500 Bristol & West and Bank of Ireland Mortgages customers received exactly the same treatment in February 2013.

Outraged? Their customers certainly were!

Could you be next???

West Brom stand to make an extra 19 million pounds a year if they get away with this. How much will your mortgage lender stand to make when they decide to do the same thing? It’s a big incentive for them isn’t it, especially if they think they are unlikely to be challenged due to the inability of landlords to raise the required funds to put up a fight.

If a group of named landlords decides to fight this in Court the claims will typically be for the value of the increase over the remaining term of the mortgage. By way of example, if your mortgage increases by £150 a month and you have 18 years to run on your mortgage your claim for damages would be £32,400.

We need to raise awareness if we are to raise the money to fight the test case

There are 6,700 affected borrowers with West Bromwich Building Society and a further 13,300 affected by bank of Ireland already. However, that doesn’t mean raising the required level of funding will be an easy task to achieve. Many of these people will never get to hear about this campaign and that’s where you come in. You may or may not be affected today but what about next week, next month or next year? To discourage your lender to follow the lead of WBBS and BoI and increasing your tracker margins we need to convince them they will have a fight on their hands if they do! Knowledge of our intentions will also act as a deterrent to other mortgage lenders due to the huge commercial risks associated with the potential for thousands of compensation claims running into hundreds of millions.

YOU can make a difference

Whether you are directly affected now or not, we urge you to help promote this campaign. The sooner we can raise enough interest, the sooner we can raise the money to commence litigation and stop this profiteering in its tracks. Please talk to your friends about this campaign and ask them to sign up. Please email a link to this discussion, share it on your Facebook, Tweet it, blog about it, post links on forums – SHOUT IT FROM THE ROOFTOPS!

Your wealth is at risk if you choose to ignore this message!

Please get involved and support this campaign by completing the form below.


by Mark Alexander

16:16 PM, 25th September 2013, About 8 years ago

Reply to the comment left by "Ed Atkinson" at "25/09/2013 - 15:35":

Yes, I'm beginning to see your point Ed. However, I think it's fair to say that MOST customers of MX would refer to their mortgage product being a "tracker".

As a matter of interest, what would your title be? I can always write another article. In fact, you are very welcome to submit one of your own for consideration and if we approve it then it will appear in our next Newsletter. The more ways we can find to share this story the better 🙂

Please see

by Ed Atkinson

16:51 PM, 25th September 2013, About 8 years ago

Reply to the comment left by "Mark Alexander" at "25/09/2013 - 16:16":

Yes, a second article seems best. I'd suggest "West Brom today, BoI yesterday, will Mortg Expr raise rates tomorrow?" (69 characters). I’d be happy to have a go, using text from the discussion just above. The tone of the article would be a genuine question and I would leave you to include the link to the campaign, either by editing my submission or via the first comment.

Is that a plan?

by Mark Alexander

16:58 PM, 25th September 2013, About 8 years ago

I like the way you are going with this Ed and I look forward to receiving the article.

How about the following for a title, 67 characters

"Will Mortgage Express copy BoI and West Brom and raise their rates?"

by Mark Alexander

17:30 PM, 25th September 2013, About 8 years ago

Check this out for a piece of damning evidence!

Still on the West Brom website right now

"Tracker mortgages give you the certainty of knowing that the rate you pay will move in line with Bank Base Rates. We offer a choice of variable trackers, including flexible mortgages."

and here's the link to prove it

and a screen shot

West Brom Screen Shot

by Terry Lucking

17:39 PM, 25th September 2013, About 8 years ago

Thank you for starting this campaign Mark. Thank you for the draft letter. Mine will hit the post tomorrow.
I am completely behind class action and would willingly support and contribute. More than happy to offer to receive/account for monies and hold in our client account and administer as instructed for no charge.

by Mark Alexander

17:43 PM, 25th September 2013, About 8 years ago

Reply to the comment left by "Terry Lucking" at "25/09/2013 - 17:39":

Thanks for the offer Terry but the lawyers have already been doing just that for us 🙂

Thanks also for your support, please remember to tell everybody you know, I believe you manage over 1,000 properties and many of those owners will have tracker mortgages.

They may not be affected today but tomorrow is another day!

by Terry Lucking

6:53 AM, 26th September 2013, About 8 years ago

Tweeting to over 2000 contacts and a newsletter to all landlord/investors this weekend

by Mark Alexander

12:55 PM, 26th September 2013, About 8 years ago

Reply to the comment left by "Richard Watters" at "26/09/2013 - 12:35":

Superb job Richard.

How well do you know Sam Collett? Can you persuade her to link her blog back to in the same way that you have done?

I have sent the following Tweet with links to your blog.

Twitter users, please RT.

by Sam Collett

13:27 PM, 26th September 2013, About 8 years ago


Just been sent this link Mark and have now updated my blog to include links to your campaign. I have also signed up myself.

I have already been screwed by the Skipton - and lost that case. Sadly, the class action that was meant to happen didn't due to lack of support. My tussle with Skipton and the resultant deals which I had to accept lost me thousands of pounds.

I therefore hope people understand how important this case is to fight. The banks will continue to bully and shaft us until we stand up and say:



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