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 December 2013 - Comments: 42
12:45 PM, 11th December 2013, About 12 years ago
Reply to the comment left by “Mark Alexander” at “11/12/2013 – 12:15“:
Hi there- I have just found your website, having been informed of it through the Telegraph coverage of the West Bromwich case. I am very interested in joining the group litigation, but before I do would like to know roughly what the grounds of the case are, to ensure they’re relevant for my situation as well.
Also, we’ve just received a response from WB to our complaint, where they point out that in the T&Cs is a clause entitling them to call in the loan in full at a month’s notice with no reason given at all- do you know if other members have received this? is this something that you are tackling?
many thanks- and well done for starting this!
Jamie
Member Since September 2013 - Comments: 125 - Articles: 3
12:45 PM, 11th December 2013, About 12 years ago
While the main NLA officers are not helping this cause so far, “our man in Liverpool” has had some success with the local branch meeting, even though he could not attend.
He responded to the invitation email by asking if the WB issue be included on the agenda. In the end they agreed to mention it in the opening address and have the flyer on the table and on display.
Others have mentioned similar success at NLA Branch meetings. The new leaflet is about to appear from P118 HQ I believe.
The NLA Branch network can be accessed here:
http://www.landlords.org.uk/in-my-area
but I noticed that the Liverpool Branch was not listed. There are a few listed meetings in Jan 2014. I guess Feb will be too late.
Well done all, Ed
Member Since October 2013 - Comments: 6
12:50 PM, 11th December 2013, About 12 years ago
Reply to the comment left by “Mark Alexander” at “11/12/2013 – 12:15“:
Hi Mark,
I had already sent my complaint to the FOS before I came across this site back in early October. I have had a few letters back from the FOS, the latest one to say that they have written to the West Brom and await a response from them.
Comments: 4
1:02 PM, 11th December 2013, About 12 years ago
As a mortgage broker I would strongly advise people to join this class action against the West Brom BS. As a broker I have never recommended any kind of mortgage via West Brom to any of my clients. However I will shortly leave a blog on my website pointing to this site and thread and hopefully more people will join. My own personal view on this matter is the lender is fully to blame, however the brokers are also coming under the spotlight for some strange reason. I wish you all luck in this fight for Justice.
Member Since October 2013 - Comments: 134 - Articles: 1
1:09 PM, 11th December 2013, About 12 years ago
Reply to the comment left by “David Up North” at “11/12/2013 – 12:50“:
I’m in the same position and, to be fair, the FOS has made some very encouraging noises (unlike the FCA). West Brom has confirmed that it has sent a file to the FOS about my case and that it is dealing with FOS directly. I have also been sending all WB updates to FOS including the famous George Eustice letter.
Member Since December 2013 - Comments: 6
1:17 PM, 11th December 2013, About 12 years ago
Reply to the comment left by “Mark Alexander” at “10/12/2013 – 15:28“:
I was trawling the net to see what deals were out there and your name popped up. I remember back in the day doing busines with the money centre so i delved further and found P118. I signed up, sent my complaint in, I await the info from the WB, once it arrives I intend to send payment to the legal guy unless you think Its worth sending before hand? luckly only two accounts at risk.
Comments: 4
1:18 PM, 11th December 2013, About 12 years ago
Hi Paul
Read about your case on the Cherry forum.
I wish every success in your plight against West Brom. Good Luck
I post as Valleyboy on Cherry.
Member Since January 2011 - Comments: 12193 - Articles: 1393
1:20 PM, 11th December 2013, About 12 years ago
Reply to the comment left by “Dean ” at “11/12/2013 – 12:39“:
Hi Dean
I doubt the West Brom are being asked to pay £500 per complaint either which is why I am not going to waste our members time in pursuing this until I know that it will cause West Brom some pain in some way.
.
Member Since November 2013 - Comments: 82
1:23 PM, 11th December 2013, About 12 years ago
Just emailed the 3 local NLA reps in my area explaining the situation and what we are all doing to fight this plus a link to this site.
They are all sound people that I know personally but they might have to follow the overall NLA stance.
Will update on what they come back with
Member Since November 2013 - Comments: 82
1:25 PM, 11th December 2013, About 12 years ago
Reply to the comment left by “ROSEMARY BOSWORTH” at “11/12/2013 – 11:16“:
Are they saying you have to send in another letter request Rosemary and pay another £10 or just a letter ?