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
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.
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
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Member Since February 2011 - Comments: 3453 - Articles: 286
11:23 AM, 1st November 2013, About 12 years ago
Reply to the comment left by “Dean Turner” at “31/10/2013 – 16:44“:
I have now spoken to the Express and Star and they are interested in running an article concerning our Class action.
I will keep you posted
Comments: 359
11:31 AM, 1st November 2013, About 12 years ago
brilliant – we are cooking with gas now huh???
Member Since October 2013 - Comments: 386
11:39 AM, 1st November 2013, About 12 years ago
Reply to the comment left by “Neil Patterson” at “01/11/2013 – 11:23“:
That’s great . Although I see they never added Marks comments to their site . But if you can get 118 in the local paper it has to help . Well done Neil
Member Since October 2013 - Comments: 386
11:44 AM, 1st November 2013, About 12 years ago
Here is a link to Citizens Advice . You should be able to find your local office.
http://www.citizensadvice.org.uk/
If everyone could email theirs and any others in their town or city simply asking them to make all advisors aware of http://www.Property118.com to anyone who is affected by the West Broms 2% interest rate hike . Maybe even ask them to put an A4 notice on their board and/or add to their website .
Be interested to know how many of you do this and which offices please
Thanks
Member Since October 2013 - Comments: 12
11:48 AM, 1st November 2013, About 12 years ago
Reply to the comment left by “Concerned Landlord” at “01/11/2013 – 09:26“:
yes the original was A5
Member Since January 2011 - Comments: 12193 - Articles: 1395
11:51 AM, 1st November 2013, About 12 years ago
Another good article about West Brom on the Mortgage Strategy website today – see >>> http://www.mortgagestrategy.co.uk/news-and-analysis/mortgages/west-brom-borrowers-launch-legal-challenge-to-mortgage-rate-hike/2002307.article
Remember to leave a comment to direct people back here 🙂
.
Comments: 359
11:56 AM, 1st November 2013, About 12 years ago
shame tho that once again there is no link to Property118 for other affected borrowers
Member Since January 2011 - Comments: 12193 - Articles: 1395
12:51 PM, 1st November 2013, About 12 years ago
Reply to the comment left by “Dean Turner” at “01/11/2013 – 10:17“:
Hi Dean
Thank you for your list of recommendations. As you will see, most of them have now been implemented 🙂
.
Member Since September 2013 - Comments: 49
1:03 PM, 1st November 2013, About 12 years ago
I have today received a positive reply from my MP Bill cash who has written to the WBBS and the Secretary of State and who has promised to write to me again when he has a full response from both which addresses the points I have raised.
Member Since October 2013 - Comments: 386
1:10 PM, 1st November 2013, About 12 years ago
Reply to the comment left by “Mark Alexander” at “01/11/2013 – 12:51“:
That’s great Mark thank you .
Ill be doing my Watchdog request Monday as a last ditched attempt.
I have emailed CAB main office. Simply asking them if they can email all branches and put a link to 118 on their site on the basis it will reduce their staffs time should someone like Paul contact them.
I have just emailed all the A section of the MPs with a simply request to contact Martin Wheatley of the FCA, inform any member of their constituency of 118 and pass on 118 to any Editor or Journalist they know who might be interested in running an article.
Just off for lunch but I will stat with the rest through the Alphabet this afternoon. Ill copy you in on the Bs later
Dean