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
5:36 PM, 15th January 2014, About 12 years ago
Reply to the comment left by “Dean ” at “15/01/2014 – 15:43“:
FOS – see Justin updates via his member profile >>> https://www.property118.com/member/?id=271
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Member Since January 2011 - Comments: 12193 - Articles: 1395
5:43 PM, 15th January 2014, About 12 years ago
Reply to the comment left by “Tony the hairdresser ” at “15/01/2014 – 17:05“:
Will send you an email with my contact details now 🙂
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Member Since November 2013 - Comments: 218
6:11 PM, 15th January 2014, About 12 years ago
Great news about David Morris wanting to speak to Mark Alexander regarding the case. I think this is really starting to gather momentum. I have had an update from Jason McCartney MP confirming that he and David Morris MP have applied for a debate in the Commons and are waiting to hear if this has been accepted.
Jason is happy to hear from as many other MP’s as we can provide so I would suggest that if anyone has spoken to their MP and had a good response now is the time to pass this on. I will forward the info to Jason.
I assume the more names we can pass on the more likely we can get a debate agreed.
Member Since September 2013 - Comments: 474
6:29 PM, 15th January 2014, About 12 years ago
Reply to the comment left by “Onslow Clough” at “15/01/2014 – 18:11“:
Yes Onslow the more names there are the better the chances of securing a debate.
Many backbenchers ask for debates on this and that. Only those that are clearly supported by a good number of MP’s stand a chance.
So it is MP’s names we want from forum members and pronto. No other action from individual members like further contact with or letter writing to MP’s required. At this juncture it could even be counterproductive.
Member Since November 2013 - Comments: 342 - Articles: 1
6:31 PM, 15th January 2014, About 12 years ago
Reply to the comment left by “Richard Adams” at “15/01/2014 – 18:29“:
sorry – do i need to have written to/spoken to my MP and therefore know if he is on-side or not, before i can pass on his name to you ?
Member Since January 2011 - Comments: 12193 - Articles: 1395
7:12 PM, 15th January 2014, About 12 years ago
Reply to the comment left by “All BankersAreBarstewards Smith” at “15/01/2014 – 18:31“:
Yes, you would have needed to have entered into written dialogue with your MP much earlier into this campaign to make putting his name forward at this stage worthwhile.
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Comments: 359
7:14 PM, 15th January 2014, About 12 years ago
me too
Member Since November 2013 - Comments: 342 - Articles: 1
9:44 PM, 15th January 2014, About 12 years ago
Reply to the comment left by “Mark Alexander” at “15/01/2014 – 19:12“:
Because i am not one of the targeted BTL landlords (altho i have a WB mortgage) it is difficult to see how i could approach my MP – but i am very willing to do so if someone can suggest a plausible “angle” for my asking for his intervention…..
Member Since September 2013 - Comments: 374
10:11 AM, 16th January 2014, About 12 years ago
Surely simply drawing his attention to an injustice that you, as a concerned citizen, have become aware of (and that furthermore are concerned may be extended to you at some unknown point in the future) is sufficient reason?
Member Since December 2013 - Comments: 6
10:50 AM, 16th January 2014, About 12 years ago
Is there a template letter available to send to the local MP?