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: 134 - Articles: 1
12:36 AM, 15th December 2013, About 12 years ago
Reply to the comment left by “paul hart” at “14/12/2013 – 23:52“:
Hi Paul.
Are you the Paul Hart I know already from Surrey? If so, give me a call or email and we can liaise. If not, I suggest you email the Law Department’s main point of contact for this action, Ana Simpson, at [email protected]. She should be able to confirm receipt of funds, or otherwise. Either way, welcome aboard.
Member Since January 2011 - Comments: 12193 - Articles: 1395
12:40 AM, 15th December 2013, About 12 years ago
Hi Paul, all updates have been via the forum, have you been following it? If not, the quickest way to catch up on the legal action updates is to go to the member section, search for Justin Selig then read his updates via his member profile. For full details there are over 2,500 comments on the forum. We have all been very busy
.
Member Since December 2013 - Comments: 179
7:39 AM, 15th December 2013, About 12 years ago
Reply to the comment left by “Paul Eastabrook” at “15/12/2013 – 00:36“:
Hi Paul.
In answer to your question I am from Nottingham- I must update my profile!
Thank you very much for your advice. I will make contact with them and check that I have not been overlooked.
Thanks again for your reply
Member Since December 2013 - Comments: 179
7:42 AM, 15th December 2013, About 12 years ago
Reply to the comment left by “Mark Alexander” at “15/12/2013 – 00:40“:
Hi Mark.
No I have not been following religiously.
I thank you for your advice and reply.
Paul
Member Since September 2013 - Comments: 232
2:09 PM, 15th December 2013, About 12 years ago
Reading this forum becomes compulsive reading. Wish we could invoice WB for all the hours we have spent doing it.
Member Since September 2013 - Comments: 232
2:10 PM, 15th December 2013, About 12 years ago
For the record I don’t have a WB mortgage.
Member Since September 2013 - Comments: 333
6:44 PM, 15th December 2013, About 12 years ago
Reply to the comment left by “LucyM ” at “15/12/2013 – 14:10“:
Join the club.
I agree………
It’s an interesting and dynamic case.
If you think its going quiet for a while, I can assure you it’s just an appearance as Mark is working behind the scenes, often up to 18 hours a day and often unpaid for his work.
I know everyone here appreciates that.
Member Since December 2013 - Comments: 2
6:44 PM, 15th December 2013, About 12 years ago
After what WBMC will see as my bleating about their actions, I was advised in writing that they have the powers to call my entire loan in with only four weeks notice. I’m horrified to hear that when I agreed to the terms of the loan over 5 years ago that not only is the base rate tracker deal meaningless but also the binding agreement of the loan lasting for the ‘term’ of the mortgage is also meaningless.
Surely this kind of ‘scare you into a submissive state’ can not be legal ….. Can it !?
A very concerned landlord
Member Since November 2013 - Comments: 45
7:53 PM, 15th December 2013, About 12 years ago
Reply to the comment left by “Mark Richards” at “15/12/2013 – 18:44“:
Its in the terms we signed up for so it can hardly be illegal for them to remind us of that fact. I suspect this is one of the main reasons that people have not joined the class action.
Member Since January 2011 - Comments: 12193 - Articles: 1395
7:59 PM, 15th December 2013, About 12 years ago
If thats the case and you think its so cut and dried why did you sign up?
.