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 October 2013 - Comments: 44
8:04 AM, 10th December 2013, About 12 years ago
Reply to the comment left by “Richard Kent ” at “10/12/2013 – 08:03“:
Many thanks Richard
On the case today !
Regards
Chris
Member Since September 2013 - Comments: 333
8:13 AM, 10th December 2013, About 12 years ago
Reply to the comment left by “Highland Lass” at “09/12/2013 – 21:53“:
@Highland Lass
…………You’ve done 34!! Great!
Sorry, I meant to say thanks for joining in 🙂
Member Since September 2013 - Comments: 333
8:43 AM, 10th December 2013, About 12 years ago
Reply to the comment left by “The Seasoned Female Investor” at “09/12/2013 – 17:40“:
@The Seasoned Female Investor
I didn’t want to steal Mark’s thunder by contacting you before he welcomed you to the forum.
Members of the forum are making a joint effort to contact mortgage brokers around the country in an attempt to drum up even more support and awareness.
I hope you will join in our efforts?
Like me, you might not have a West Brom mortgage and therefore you might be totally unaffected by this.
However, I know you will appreciate the wider impact on mortgages in future if nothing is done to stop this hike now.
To endorse this point, Mark has already intimated that another lender is about to follow suit.
Member Since October 2013 - Comments: 49
8:56 AM, 10th December 2013, About 12 years ago
Reply to the comment left by “Richard Kent ” at “09/12/2013 – 18:15“:
Thanks for template Peterborough covered.
Member Since September 2013 - Comments: 333
9:07 AM, 10th December 2013, About 12 years ago
Reply to the comment left by “ROSEMARY BOSWORTH” at “10/12/2013 – 08:56“:
Great!
If I don’t say thanks immediately to any of your efforts it’s because I’m not always at my computer.
However, our efforts are here for everyone to see. Therefore, when other readers see you have emailed brokers in your area it is likely to inspire them to do the same 🙂
Member Since October 2013 - Comments: 8
9:32 AM, 10th December 2013, About 12 years ago
Reply to the comment left by “Richard Kent ” at “10/12/2013 – 08:00“:
Thanks for the template Richard, I have emailed 20 in Cornwall.
Member Since September 2013 - Comments: 333
9:46 AM, 10th December 2013, About 12 years ago
Reply to the comment left by “Julia Daniels” at “10/12/2013 – 09:32“:
Great news Julie 🙂
Other Readers……… In case you want you want to join in our efforts please see my Property118 posts here which tell you how to join in………
https://www.property118.com/west-bromwich-building-society-mortgage-company-increase-tracker-margins-legal-action/43657/comment-page-259/#comment-33888
https://www.property118.com/west-bromwich-building-society-mortgage-company-increase-tracker-margins-legal-action/43657/comment-page-259/#comment-33889
Member Since November 2013 - Comments: 342 - Articles: 1
10:03 AM, 10th December 2013, About 12 years ago
i deposited my contribution to funds last night… even tho i am not affected by WB, yet, we all need to stand together and fight this as other greedy lenders will jump on any band wagon…..
Member Since October 2013 - Comments: 44
10:19 AM, 10th December 2013, About 12 years ago
Reply to the comment left by “Richard Kent ” at “10/12/2013 – 08:13“:
Fingers bleeding from all the typing ..Approx 45 brokers contacted in the s & s w wales corridor .
About time i did something constructive apart from the usual hot air letters to all and sundry !
Chris
Member Since January 2011 - Comments: 12193 - Articles: 1393
10:27 AM, 10th December 2013, About 12 years ago
The efforts to spread the word to mortgage advisers is highly commendable. Well done to Richard Kent for getting the ball rolling on this initiative and thank you to all those who have followed his lead 🙂
I have just posted ton the CherryFind website, please see >>> http://www.cherryfind.co.uk/forum/topic/details/31473
I have also heard from Simoney Girard at FT Adviser who confirms they will be publishing the same article in their FT Adviser weekly newspaper this Thursday.
Keep up the good works folk. West Brom must be sweating beads!
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