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: 125 - Articles: 3
11:08 PM, 2nd February 2014, About 12 years ago
Well done indeed Badger! Especially in opening a route to Sajid David, which could prove a vital step in the overall campaign. Excellent !
Member Since January 2011 - Comments: 12193 - Articles: 1395
7:34 AM, 3rd February 2014, About 12 years ago
Reply to the comment left by “Ed Atkinson” at “02/02/2014 – 23:08“:
Yes I agree.
The FCA are due to meet with the Treasury tomorrow and I am hoping the question of tracker rate hikes and the associated grey areas within consumer regulation will be on the agenda as well as the fairness issues such as “Treating Customers Fairly” (only targeting landlords of multiple properties) and also the core principles of Financial Promotions Regulations of “fair, clear and not misleading” which apply to all products whether they are regulated or not.
.
Member Since November 2013 - Comments: 20
8:44 PM, 3rd February 2014, About 12 years ago
Hello Mark,
Are you able to advise when the secure forum will be available?
Thanks
Alex
Member Since January 2011 - Comments: 12193 - Articles: 1395
8:46 PM, 3rd February 2014, About 12 years ago
I was hoping today but our programmer has gone off sick. Fingers crossed he will be back tomorrow.
.
Member Since November 2013 - Comments: 20
9:28 PM, 3rd February 2014, About 12 years ago
Ok, many thanks Mark.
Member Since January 2011 - Comments: 12193 - Articles: 1395
11:19 AM, 4th February 2014, About 12 years ago
SECURE FORUM
Unfortunately the IT developer who has been programming our secure forum is still off sick. The programming for the secure forum is 80% complete and when our developer has completed the final bits and pieces and we have completed testing we should be able to get it live within 24 hours. It’s very frustrating that he fallen sick now (not just for him) but hopefully he will be feeling better soon soon and the forum will be up and running by the end of this week. Thank you for continued patience.
.
Member Since October 2013 - Comments: 49
12:57 PM, 4th February 2014, About 12 years ago
Reply to the comment left by “Mark Alexander” at “04/02/2014 – 11:19“:
Email rec’d today from Stewart Jackson re request to ask for 90 min debate.
“Thank you very much for your e-mail – I have already spoken to Jason McCartney MP and I think it’s just a matter of time now until we are granted a debate.”
Positive response. Note 33 MP’s have signed the EDM.
Look forward to secure forum so we can discuss this further
Member Since January 2011 - Comments: 12193 - Articles: 1395
1:52 PM, 4th February 2014, About 12 years ago
Reply to the comment left by “ROSEMARY BOSWORTH” at “04/02/2014 – 12:57“:
It’s fine to discuss this stuff here. The secure forum will be for the sole purpose of discussing legal strategies 🙂
.
Member Since September 2013 - Comments: 232
3:39 PM, 4th February 2014, About 12 years ago
Reply to the comment left by “ROSEMARY BOSWORTH” at “04/02/2014 – 12:57“:
And there are more to come.. My husband’s MP Frank Dobson signed 6 days ago, not sure how long the table office take to register them but I have asked his aide to check that it was received. My MP does not respond I have written about 4 times, is there a point when you become a nuisance or can I write again? It really upsets me that he doesn’t reply.
Member Since October 2013 - Comments: 386
3:46 PM, 4th February 2014, About 12 years ago
Sounds like my MP David Blunkett
Three emails and three phone calls and still cant see his name on list