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 January 2011 - Comments: 12193 - Articles: 1395
10:13 PM, 13th January 2014, About 12 years ago
The next step up from Court is the Court of Appeal, after that it’s the Supreme Court which was previously called the House of Lords. The answer therefore is two.
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Member Since July 2013 - Comments: 467 - Articles: 1
8:05 AM, 14th January 2014, About 12 years ago
Reply to the comment left by “Paul Eastabrook” at “13/01/2014 – 19:38“:
Thanks Paul,
It took some effort from me to get Jonas to get the key points over in his piece. Too many articles to date have missed the really key point which is really made in the direct quote attributed to me.
Of course, the piece could be even better and more in favour of the campaign, but a writer in the IC has to try to be even handed – Mr. Crosland is not paid by 118 nor by LettingFocus.com and is free to write what he likes and give something of WBBS’s point of view! But this is as supportive an article as you will likely see.
It would do no harm, I think, if readers of this forum (at 118) could add their own comments to the Investors Chronicle piece – as some of the comments that have already been added to the piece contain the usual guff about “greedy buy to let landlords getting what they deserve” – comments more akin to the type you might expect to see following a Guardian piece.
Over to you to comment.
David Lawrenson
http://www.LettingFocus.com
Member Since January 2011 - Comments: 12193 - Articles: 1395
8:24 AM, 14th January 2014, About 12 years ago
Reply to the comment left by “David Lawrenson” at “14/01/2014 – 08:05“:
Hi David
As requested, I have registered with Investors Chronicle and posed a long comment on their forum. Please see >>> http://www.investorschronicle.co.uk/2014/01/13/comment/property-matters/kick-in-the-teeth-for-buy-to-let-landlords-SlSya39gsyv9jgsXmU9fML/article.html
I am Mark48 🙂
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Comments: 359
8:42 AM, 14th January 2014, About 12 years ago
me too!
Member Since January 2011 - Comments: 12193 - Articles: 1395
9:30 AM, 14th January 2014, About 12 years ago
Reply to the comment left by “Denise D” at “14/01/2014 – 08:42“:
Great comment Denise, I have “liked” your post on the IC article, please return the favour 🙂
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Member Since November 2013 - Comments: 342 - Articles: 1
10:03 AM, 14th January 2014, About 12 years ago
Reply to the comment left by “Mark Alexander” at “14/01/2014 – 09:30“:
i have just commented also and liked mark and denise’s contributions
Member Since January 2011 - Comments: 12193 - Articles: 1395
10:36 AM, 14th January 2014, About 12 years ago
Reply to the comment left by “All BankersAreBarstewards Smith” at “14/01/2014 – 10:03“:
… and I have liked your post 🙂
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Member Since July 2013 - Comments: 467 - Articles: 1
11:47 AM, 14th January 2014, About 12 years ago
Some of you I’m sure, especially those who think that their lender has taken a little too much interest in their credit file, will have an interest in this story from the Guardian:
http://www.theguardian.com/money/2014/jan/11/rbs-private-detective-search-experian-credit
Interesting reading!
David Lawrenson
http://www.LettingFocus.com
Property Advice
Comments: 359
12:03 PM, 14th January 2014, About 12 years ago
apparently I can’t look at your post all bankers are … as I’ve used up my IC months quota of page views!
Comments: 359
12:18 PM, 14th January 2014, About 12 years ago
good grief – I knew this landlording business was a dodgy risky old deal but…. http://www.dailymail.co.uk/news/article-2539067/Italian-cannibal-knifed-Irish-landlord-death-ate-lung-row-illegal-chess-astonished-friends-say-sane-gang.html