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 November 2013 - Comments: 82
2:37 PM, 19th December 2013, About 12 years ago
Reply to the comment left by “Dean ” at “19/12/2013 – 13:40“:
Totally !! Wonder if the contractor even knows !
Member Since November 2013 - Comments: 82
2:40 PM, 19th December 2013, About 12 years ago
Received letter back yesterday from my MEP from about 6 weeks ago with the standard response from the Treasury !
Roll on end of January !
Member Since November 2013 - Comments: 342 - Articles: 1
6:47 PM, 19th December 2013, About 12 years ago
Reply to the comment left by “Dean ” at “19/12/2013 – 13:40“:
maybe someone should send a link to this thread summary to the WB new HQ building contractor……….
Comments: 359
7:13 PM, 19th December 2013, About 12 years ago
Well, we received a response TODAY from Ed Milliband’s office in reply to our letter of 2 MONTHS AGO – apologising for the delay – but with no reason or excuse as to why it had taken them so long to get round to answering our letter – It then went on to tell us that Ed likes to hear from people like us!
And that was the absolute total sum of the content of the letter and extent of the reply! There was simply no attempt whatsoever to answer any of our questions or address a single one of our concerns! It didn’t just miss the point but made no reference to it at all – so I guess that has to get the prize for the most impressive non answer we’ve had yet!!! ….unless you know better?
Member Since October 2013 - Comments: 386
8:29 PM, 19th December 2013, About 12 years ago
Reply to the comment left by “Denise D” at “19/12/2013 – 19:13“:
Also got mine from him. Said to contact my local mp. And then told me the wrong one. Well done ed !!
Member Since October 2013 - Comments: 66
10:21 AM, 20th December 2013, About 12 years ago
Can we expect an opinion from counsel today?
Member Since July 2013 - Comments: 467 - Articles: 1
12:54 PM, 20th December 2013, About 12 years ago
It is very clear that the public and MPS are rather tiring of the ongoing antics of some of the banks and other financial institutions, as this piece from the Daily T rather makes clear. Certainly it is not an encouraging background for WBBS and other lenders to try to defend the tracker rate hike case. Even Martin Teflon Wheatley seems almost inclined to act.
It might be useful to find out who the 30 MPs referred to in this piece were?
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10527353/FCA-chief-warns-Treasury-swaps-scandal-could-be-significantly-bigger.html
David Lawrenson
http://www.LettingFocus.com/blogs
Member Since October 2013 - Comments: 85
2:02 PM, 20th December 2013, About 12 years ago
I have just had a positive response from the FOS. Would anyone be interested in hearing it? I do not want to post up anything that may assist the West Brom…….
Member Since October 2013 - Comments: 66
2:10 PM, 20th December 2013, About 12 years ago
Reply to the comment left by “Stewart Jackson” at “20/12/2013 – 14:02“:
I have had some positive remarks from FOS myself – very interested to hear more…
Member Since January 2011 - Comments: 12193 - Articles: 1395
2:19 PM, 20th December 2013, About 12 years ago
To Stuart Jackson and deceived by West Brom
Please email the letters to myself [email protected] and copy to Justin [email protected] and Ana [email protected]
We will then take a look and advise whether we think this information should be posted on the forum or not.
.