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 September 2013 - Comments: 50
6:39 PM, 21st December 2013, About 12 years ago
Reply to the comment left by “Paul Eastabrook” at “21/12/2013 – 11:15“:
Thanks Mark.
I’ve noticed how VERY quiet this all now is. I know that many people are off on their X-mas break now, but even so, you’d think a little more activity than this, seeing how the site’s been heaving with activity of late. I’m sure that Mark being off will have had an impact, but surely not to this degree. Never mind, it’s not meant in a critical way, just one of a surprised reaction – especially as 1 of 3 of our increased mortgage payments has been taken already, so doubtless others by now too. It seems SO undemocratic given the BoE base rate status, as we all know. JUST because these greedy sods have decided that they want more money – and we all know why: their new offices and their incompetence running a ‘business’. So we pick up the tab for THEIR failures. Kind of feels like they’re holding a gun to our throat, or simply been mugged in the street. It’s really NO different, is it?…..Oh but hang on, they will say they did warn us…OK, so perhaps if muggers were to ‘warn’ their victims, say a week or month before, then they CAN and WILL then mug us when they said they would? It makes it okay, does it?
Merry Christmas!
Member Since November 2013 - Comments: 24
6:55 PM, 21st December 2013, About 12 years ago
Merry Christmas and a very prosperous New Year to all participants on this forum and in the class action against WB.
I have also noticed how quite this site has got over this last week, but expect we all have to concentrate on wider family values and our business over this period despite the actions of WB.
Their actions are not forgotten, merely placed to rear of ones brain at this special time of the year.
We will go forward in the New Year to defeat this unfair increase with WB, and I for one will be seeking the maximum amount of damages against them for the mental anguish which we must have all suffered.
I thank you all.
Member Since July 2013 - Comments: 264
7:15 PM, 21st December 2013, About 12 years ago
Reply to the comment left by “Incensed Landlord” at “21/12/2013 – 18:39“:
There’s not a lot more that can be said until councils opinion probably one of the reasons why it has gone a bit quiet
Member Since June 2013 - Comments: 186
8:27 PM, 21st December 2013, About 12 years ago
See page 64 of today’s Times. Under the heading “roll call of shame in a year of scams and scandals” the lead comment in the section on “borrowers” is the following “for tens of thousands of borrowers with so called ‘tracker’ mortgages from Bank of Ireland and West Bromwich Building Society rates have soared in spite of the base rate freeze.” This is really important because it makes no distinction between buy to let borrowers and others just confirming this is a scam! Happy holidays to everyone
Comments: 359
8:51 PM, 21st December 2013, About 12 years ago
Reply to the comment left by “Annette Stone” at “21/12/2013 – 20:27“:
EXCELLENT!!!
Member Since November 2013 - Comments: 342 - Articles: 1
9:22 PM, 21st December 2013, About 12 years ago
Reply to the comment left by “Annette Stone” at “21/12/2013 – 20:27“:
is there an on line link to the article please ?
Member Since September 2013 - Comments: 96
9:36 PM, 21st December 2013, About 12 years ago
Reply to the comment left by “All BankersAreBarstewards Smith” at “21/12/2013 – 21:22“:
Annoyingly I think you have to subscribe to see Times stuff online – you usually only get a few lines of an article and then it tries to lure you into subscribing – I have had a look but unable to find anything….
Member Since October 2013 - Comments: 386
10:22 PM, 21st December 2013, About 12 years ago
Reply to the comment left by “Incensed Landlord” at “21/12/2013 – 18:39“:
Absolutely. It’s still theft ! Just because someone tells you in advance doesn’t make it right. Got a three page reply today from a WB puppet today. Think I’ll call him Monday as the letter is wrong as usual.
Member Since October 2013 - Comments: 134 - Articles: 1
10:30 PM, 21st December 2013, About 12 years ago
Reply to the comment left by “Annette Stone” at “21/12/2013 – 20:27“:
I’d certainly love to see a scanned copy of the extract / page if at all possible. I can’t get at it, or even find any reference to it, on any of the (free) online pages.
Member Since August 2013 - Comments: 428
11:10 PM, 21st December 2013, About 12 years ago
The Times article says little more than has already been quoted but is encouraging as it shows that at least some journalists have become willing to report this sorry affair as a rip off without feeling obliged to quote the pathetic mealy mouthed “justifications” trotted out by the lenders.