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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Comments: 9
10:53 AM, 10th December 2013, About 12 years ago
26 Mortgage Brokers in Edinburgh emailed to this morning. Will send to other Scottish cities later today.
Great work everyone.
Member Since September 2013 - Comments: 19
11:34 AM, 10th December 2013, About 12 years ago
I’ve done 20 or so in Aberdeenshire so far.
Member Since September 2013 - Comments: 21
11:36 AM, 10th December 2013, About 12 years ago
I have done Liverpool too
Member Since September 2013 - Comments: 333
11:52 AM, 10th December 2013, About 12 years ago
Great news! 🙂
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 January 2011 - Comments: 12193 - Articles: 1393
11:58 AM, 10th December 2013, About 12 years ago
We have broken through 100,000 page views on this thread now, unbelievable!
.
Member Since October 2013 - Comments: 56
12:01 PM, 10th December 2013, About 12 years ago
Reply to the comment left by “Richard Kent ” at “10/12/2013 – 11:52“:
Richard, Well done! I did the brokers I already knew in SW London previously and will try to do some more from Yell when I next get a spare hour! I also have a couple of friendly estate agents so will ask them to make use of their networks.
Member Since September 2013 - Comments: 333
12:07 PM, 10th December 2013, About 12 years ago
Reply to the comment left by “Mike L” at “10/12/2013 – 12:01“:
Thanks Mike 🙂
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 September 2013 - Comments: 333
12:21 PM, 10th December 2013, About 12 years ago
Reply to the comment left by “Mark Alexander” at “10/12/2013 – 11:58“:
Let’s hope the Yell site doesn’t go down due to Meltdown! 🙂
Comments: 9
12:47 PM, 10th December 2013, About 12 years ago
Reply to the comment left by “Richard Kent ” at “10/12/2013 – 12:21“:
Hi
A further 45 emails sent to mortgage brokers in Scotland.
Even if some brokers receive more than one email it will make them realise the amount of support there is to win this case.
Well done again Richard for your encouragement to get so many on board to email.
Think I’ll take the rest of the day off!
Member Since September 2013 - Comments: 333
1:02 PM, 10th December 2013, About 12 years ago
Reply to the comment left by “Highland Lass” at “10/12/2013 – 12:47“:
I’m staggered. That’s 75 emails you have sent in 1 day! wow!
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