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
10:16 AM, 17th January 2014, About 12 years ago
Reply to the comment left by “Dean ” at “17/01/2014 – 10:09“:
Interesting dean, thanks for sharing. It bugs me though that yet again Property118 is not mentioned. Justin is not leading this campaign, he is our appointed legal adviser. The campaign itself is being lead by Property118 members via the Property118 forum – GRRRR!!!!
.
Member Since November 2013 - Comments: 342 - Articles: 1
10:43 AM, 17th January 2014, About 12 years ago
http://www.telegraph.co.uk/finance/personalfinance/consumertips/jessicainvestigates/9922507/West-Brom-Building-Society-invested-my-money-without-my-permission.html
read the very last line of this article………
Member Since October 2013 - Comments: 386
11:25 AM, 17th January 2014, About 12 years ago
Reply to the comment left by “Mark Alexander” at “17/01/2014 – 10:16“:
I know . I think the next big chance we have to add more contributors will be the MPs in any case .
Hopefully we can delay any legal action until its debated
Member Since October 2013 - Comments: 386
11:29 AM, 17th January 2014, About 12 years ago
Reply to the comment left by “All BankersAreBarstewards Smith” at “17/01/2014 – 10:43“:
WB are claiming to be upping our payments so they can protect the interest of their savers.
Seems they will try and do anyone over !
Morals of Alley Cats !!
Member Since January 2011 - Comments: 12193 - Articles: 1395
11:45 AM, 17th January 2014, About 12 years ago
The local MP to West Brom is Tom Watson. I suggest as many of us as possible lobby him and ask him to make contact with David Morris MP with a view to attending the briefing I will be giving to MP’s on this matter at 1pm next Tuesday at the Houses of Parliament.
You can contact Tom Watson by putting the West Brom Postcode (B70 8LR) into our Property Research Tool and then clicking on the Local MP link which is about half way down the page under the section titled The Area.
The link to our Property research Tool is >>> https://www.property118.com/property-search-tool/
Please post a comment to let me know when you have done this 🙂
.
Member Since November 2013 - Comments: 342 - Articles: 1
11:56 AM, 17th January 2014, About 12 years ago
i have just written to my MP, David Heath, asking him to allow me to pass his name onto David Morris. Will let you know when i get a reply.
Member Since November 2013 - Comments: 20
11:58 AM, 17th January 2014, About 12 years ago
Hi Mark,
Last week Justin mentioned that he would be sending out an email circular to instructed clients during the early part of this week. Given that it is now Friday and I do not seem to have had the circlular I am wondering if either I have missed it (Gone into spam maybe) or it has not been sent yet.
An update on this would be very helpful.
Apologies if this has already been mentioned on this forum over the past few days,
Has anybody else received it?
Thanks
Alex
Member Since January 2011 - Comments: 12193 - Articles: 1395
12:22 PM, 17th January 2014, About 12 years ago
Reply to the comment left by “Devon Landlord” at “17/01/2014 – 11:58“:
Justin’s email has not been sent yet. In fairness, that’s my fault as I keep batting the draft email back to him with suggested additions. This is because I don’t want him to be bombarded with hundreds of emails asking him the same questions. Remember, we have to pay him to respond to them all.
In his email Justin will be asking us not to communicate or discuss the contents of this privileged legal information via any public forum. Therefore, it’s imperative that all as many of the questions are answered as possible in order to avoid our funds being frittered away on him replying to the same questions many times.
Realistically I wouldn’t expect his email to be sent until the middle to end of next week. This is the most crucial point in our campaign to date so we must get it right.
Thank you to all for your forbearance.
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Member Since June 2013 - Comments: 186
12:22 PM, 17th January 2014, About 12 years ago
Mark. Really good news that Tom Watson is the MP for West. Brom. Can I suggest that everyone contacts him as well as their local MP because he is a very strong campaigner when he sees injustice!!! People will remember him from the phone hacking scandal and if he can be persuaded to become involved that will be very helpful. Please point out that this is a scandal on his own doorstep caused by a firm based in his constituency which is surely affecting buy to let landlords in his constituency as well as people all around the country.
Can I suggest that if we have any of his constituents on the forum that they ask to meet with him and refuse to be fobbed off. Meeting to take place preferably in the House of Commons. If anyone can get a meeting with him and is a bit nervous to go on their own that can be sorted as well!!!
Also, can I suggest that if you live in a constituency where the MP changed and your current MP has been unhelpful as has mine that you contact the defeated candidate
at the last election and ask him to become involved. If they are standing again they might relish the opportunity to connect with as many people as possible and to be able to say how helpful they were in their election manifesto for 2015 which is only round the corner.
Member Since November 2013 - Comments: 342 - Articles: 1
12:22 PM, 17th January 2014, About 12 years ago
Reply to the comment left by “Mark Alexander” at “17/01/2014 – 11:45“:
i have written to Tom Watson…..