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
Comments
Have Your Say
Every day, landlords who want to influence policy and share real-world experience add their voice here. Your perspective helps keep the debate balanced.
Not a member yet? Join In Seconds
Login with
Previous Article
Has Capita thrown in the towel on Tenancy Deposit Protection?Next Article
Win A FREE Ticket to the NALS Conference
Member Since October 2013 - Comments: 59
6:54 PM, 27th November 2013, About 12 years ago
On the fifth day of Christmas the treasury sent to me
Tough your on your own bay bee (baby, just in case poetry was never a strong point).
Member Since January 2011 - Comments: 12193 - Articles: 1395
6:56 PM, 27th November 2013, About 12 years ago
Reply to the comment left by “Pindy Kaur” at “27/11/2013 – 18:45“:
Hi Pindy
Send everything the West Brom sent to you.
.
Member Since January 2011 - Comments: 12193 - Articles: 1395
6:59 PM, 27th November 2013, About 12 years ago
Reply to the comment left by “Ian Burton” at “27/11/2013 – 18:54“:
On the 6th day of Christmas FCA said they’d play
But there a decision is a long way away (f**k em them!)
.
Member Since July 2013 - Comments: 264
7:11 PM, 27th November 2013, About 12 years ago
On the 7th day of Christmas we sent out a plea fence sitters should pay the fee.
Member Since September 2013 - Comments: 49
7:28 PM, 27th November 2013, About 12 years ago
Reply to the comment left by “Richard Adams” at “27/11/2013 – 16:43“:
Brilliant Work Richard !!!!!!!!!
Member Since July 2013 - Comments: 264
7:50 PM, 27th November 2013, About 12 years ago
On the 8th day of Christmas WB threatened to call in the lone on me, Mark Alexander say’s that’s now a possibility.
Member Since January 2011 - Comments: 12193 - Articles: 1395
8:00 PM, 27th November 2013, About 12 years ago
Reply to the comment left by “ian ” at “27/11/2013 – 19:50“:
On the 9th day of Christmas my barristers said to me
Foreclosure would be STU-PID-IT-EEE!
.
Member Since January 2011 - Comments: 12193 - Articles: 1395
8:08 PM, 27th November 2013, About 12 years ago
Reply to the comment left by “Mark Alexander” at “27/11/2013 – 20:00“:
On the 10th day of Christmas I heard from the FT
Next week they’ll tell the broker community
.
Member Since September 2013 - Comments: 125 - Articles: 3
8:34 PM, 27th November 2013, About 12 years ago
Reply to the comment left by “Dean ” at “27/11/2013 – 10:16“:
Good work Dean. I have been trying to interest the NLA (as has Mark of course). I have skimmed thru’ the Nov/Dec issue of their “UK Landlord” and I could not find the article that Dean’s friend mentioned. Could someone who has found it post the page number?
I will use this to continue my emails to Carolyn Uphill NLA Chair (she has replied once) . I would like to include the news that other banks have now requested the FCA (or whoever) that they follow WB’s lead. Is there a good link to that story, eg FT website, to give her?
Member Since October 2013 - Comments: 386
8:42 PM, 27th November 2013, About 12 years ago
Reply to the comment left by “Ed Atkinson” at “27/11/2013 – 20:34“:
I can’t take any credit for this. It’s all down to Kevin Thomson. He as just been struggling to log on to post anything.