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: 386
9:45 AM, 15th January 2014, About 12 years ago
Reply to the comment left by “Mark Alexander” at “15/01/2014 – 08:49“:
I will follow up my letter last week to David Blunket with these points and the names of the MPs we have on the list so far .
I will also reiterate my request for a meeting
Member Since November 2013 - Comments: 3
9:58 AM, 15th January 2014, About 12 years ago
Onslow, my MP Rachel Reeves has also been very helpful when I wrote to her, I will write to her again with the points Mark has raised
Member Since November 2013 - Comments: 11
10:29 AM, 15th January 2014, About 12 years ago
Hi Onslow, had a very positive response from Oliver Colvile Plymouth Sutton and Devonport who was going to bring up issues with the Minister about credit checks and the conspicuousness of the terms and conditions with the Prudential Regulation Authority.
Member Since October 2013 - Comments: 23
12:41 PM, 15th January 2014, About 12 years ago
Onslow, please add Chi Onwurah, Labour MP for Newcastle upon Tyne Central to your list of MP’s who have shown an interest in our concerns.
Member Since September 2013 - Comments: 24
3:32 PM, 15th January 2014, About 12 years ago
Hi
I look forward to hearing more from Justin shortly with the updated info on our case.
In the meantime, can I just check that I have not missed the FCA template complaint letter? I have not done this and am concerned with time-scales.
Thanks
sam
Member Since January 2011 - Comments: 12193 - Articles: 1395
3:38 PM, 15th January 2014, About 12 years ago
Reply to the comment left by “Sam Collett” at “15/01/2014 – 15:32“:
Hi Sam
Yes you have missed the first one, Justin is in the process of providing an update as an addendum to the first complaint template following receipt of our QC’s opinion. Please email [email protected] for details 🙂
.
Member Since October 2013 - Comments: 386
3:41 PM, 15th January 2014, About 12 years ago
This was just sent to me by a client . He is nothing to do with the West brom fiasco . Does anyone like bankers ?
http://www.independent.co.uk/news/business/news/fat-cats-getting-fatter-bankers-bonus-culture-lives-on-as-millionaires-club-tops-2700-8972757.html
Member Since October 2013 - Comments: 386
3:43 PM, 15th January 2014, About 12 years ago
Reply to the comment left by “Mark Alexander” at “15/01/2014 – 15:38“:
Mark
Is this a complaint to the FCA or FOS ?
Member Since October 2013 - Comments: 37
5:05 PM, 15th January 2014, About 12 years ago
Hi Mark
I have just had another long and in depth conversation with David Morris MP for Morecambe and Lunsdale who is involved in arranging the parliamentary debate with Jason Mcartney MP and Steve Baker MP. He would very much like to speak with you personally to get as much information as possible ahead of the debate.
If you would like to email me direct I have his permission to email you his private telephone number.
Obviously this would need to remain confidential and off the site.
Regards
Tony
Member Since October 2013 - Comments: 56
5:27 PM, 15th January 2014, About 12 years ago
I’ve missed the last few days’ comments due to inadvertently turning off my notifications. Doh! However having caught up now I’ve got a real good feel for the fantastic momentum being built up with the MPs. I will write again to mine along the lines of Mark’s earlier summary and mentioning the other MPs too.