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 January 2011 - Comments: 12193 - Articles: 1395
4:02 PM, 25th November 2013, About 12 years ago
Reply to the comment left by “Peter Cole” at “25/11/2013 – 15:49“:
I have added a review of my own on money.co.uk and mentioning Property118 of course.
I can’t see how to join the golfing website but there are clearly quite a few affected borrowers there. I’ve not read the entire thread so I don’t know whether we have had a mention. If we’ve not though we need to find a way to post on this website in order to help these people.
.
Member Since September 2013 - Comments: 96
4:06 PM, 25th November 2013, About 12 years ago
Reply to the comment left by “Mark Alexander” at “25/11/2013 – 16:02“:
Thanks Mark.
Have changed our profile name to Peter & Di as we spend equal time on here!
I will have a look and see if I can register on golfing forum,
Di
Member Since November 2013 - Comments: 218
4:23 PM, 25th November 2013, About 12 years ago
Hi, I’m the latest convert to the class action…. can’t let them get away with it, not without a fight anyway. Paperwork and cheque for £720 sent this afternoon.
Member Since October 2013 - Comments: 386
4:35 PM, 25th November 2013, About 12 years ago
Reply to the comment left by “Peter & Di Cole” at “25/11/2013 – 15:49“:
I have managed to get a posting on both those sites .
Even if its just two additional members that is a very good find . Thank you
Dean
Member Since September 2013 - Comments: 96
4:45 PM, 25th November 2013, About 12 years ago
Reply to the comment left by “Dean ” at “25/11/2013 – 16:35“:
Hi Dean,
Thanks, Just registered and left comment also!
Let’s hope Phil reads it as it was a couple of months ago he started the thread!
Di
Member Since January 2011 - Comments: 12193 - Articles: 1395
4:57 PM, 25th November 2013, About 12 years ago
Reply to the comment left by “Onslow Clough” at “25/11/2013 – 16:23“:
Hi Onslow and welcome
How did you hear about us?
.
Comments: 359
5:01 PM, 25th November 2013, About 12 years ago
Reply to the comment left by “Ken Rose” at “25/11/2013 – 10:03“:
but we mortgaged our home to raise capital to do this to supplement our pensions as they don’t deliver any longer like they used to do – we would face losing EVERYTHING including our home if WBBS bankrupt us (as I’m pretty sure loads of us would)
Comments: 359
5:05 PM, 25th November 2013, About 12 years ago
Reply to the comment left by “Alexander Simpkin” at “25/11/2013 – 10:44“:
we have our offer letter – with no ref in it I’m sure to any additional booklet (which I’m sure we never saw or receioved anyway) If the booklet is THAT relevenat and pertinent surely it should be specifically referred/listed to as essentail and having been seen and signed? – and we too have a tick on that box stating we received advice from Your Move
Member Since January 2011 - Comments: 12193 - Articles: 1395
5:08 PM, 25th November 2013, About 12 years ago
Reply to the comment left by “Denise Doms” at “25/11/2013 – 17:05“:
Hi Denise
The Mortgage Conditions Booklet is referred to on the mortgage deed which you will have signed. It is in bold type immediately above where you would have signed.
.
Member Since October 2013 - Comments: 134 - Articles: 1
5:48 PM, 25th November 2013, About 12 years ago
Reply to the comment left by “Mark Alexander” at “25/11/2013 – 17:08“:
Having just read your post Mark, I appear to have been under something of a misapprehension. In my very simplistic view, I interpreted the “Mortgage Conditions 2006 (Daily Interest)” to be the 4 listed conditions beneath the emboldened sub-heading within the overarching Mortgage Deed. I judged that to be a supplement to the Offer Letter (with specified terms) and all the key facts illustration. That was why I was unaware of the existence of the previously unseen document provided to me for the first time by WB in October 2013.