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 September 2013 - Comments: 30
2:01 PM, 29th November 2013, About 12 years ago
Reply to the comment left by “Denise Doms” at “29/11/2013 – 13:45“:
Yes I do.
Member Since November 2013 - Comments: 218
2:02 PM, 29th November 2013, About 12 years ago
I don’t want to sound paranoid but will sending the “without prejudice” letter give WBBS an early warning of who exactly is part of the class action. Could this put us in a more vulnerable position.
Comments: 359
2:05 PM, 29th November 2013, About 12 years ago
I thought (believed, hoped) we belonged to a democratic society where we are permitted to object to issues and to take recourse to the law if necessary without fear of being picked on or penalised or bullied for doing so?
Member Since November 2013 - Comments: 218
2:09 PM, 29th November 2013, About 12 years ago
Reply to the comment left by “Denise Doms” at “29/11/2013 – 14:05“:
I fully agree Denise, it’s just that WBBS don’t seem to have the same view.
Member Since November 2013 - Comments: 252 - Articles: 10
2:15 PM, 29th November 2013, About 12 years ago
Reply to the comment left by “Onslow Clough” at “29/11/2013 – 14:09“:
In the unlikely event of anyone being adversely affected by taking this step then please contact me directly for fast response advice and action.
Member Since October 2013 - Comments: 8
2:19 PM, 29th November 2013, About 12 years ago
Reply to the comment left by “Denise Doms” at “29/11/2013 – 14:05“:
I have also sent ‘without prejudice letter’ to WBBS and and have received the same automated reply as Denise.
I have 2 Buy-to-let mortgages with them and have received letters telling me that they will be increasing by 2%. Both of them start with an 8. They sent me a letter letter for one of them saying that the increase will now be 1.9% and how much it will cost me, but have not received a letter for the other one despite being told in their original letter that they would write to me in November. I suppose they still have one day left. They both go out by DD so I will have to keep on eye on my bank account.
Comments: 359
2:35 PM, 29th November 2013, About 12 years ago
Reply to the comment left by “Julia Daniels” at “29/11/2013 – 14:19“:
have you signed up yet Julia? I can only urge you to do so if you’ve not in the best interest of your peace of mind and mental well being
Member Since September 2013 - Comments: 30
2:42 PM, 29th November 2013, About 12 years ago
Reply to the comment left by “Onslow Clough” at “29/11/2013 – 14:02“:
They know I’m “in” already and I don’t have a problem with that. If I get singled out as a result I shall document it all here.
Member Since October 2013 - Comments: 8
2:44 PM, 29th November 2013, About 12 years ago
Reply to the comment left by “Denise Doms” at “29/11/2013 – 14:35“:
Yes, I signed up almost as soon as I had the original letters from WBBS about the 2%, put a search in and found this site straight away. it took me a few days to decide whether to join but I know its the best £480 I have ever spent.
Comments: 359
2:51 PM, 29th November 2013, About 12 years ago
us too Julia