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: 49
10:16 AM, 6th February 2014, About 12 years ago
Reply to the comment left by “Mark Landlord” at “06/02/2014 – 10:01“:
“Perhaps he doesn’t exist but is just a cardboard cut out”
Member Since October 2013 - Comments: 386
10:25 AM, 6th February 2014, About 12 years ago
Reply to the comment left by “Mark Landlord” at “06/02/2014 – 10:01“:
Morning All
Got a reply yesterday from Mr Blunkett.
He wrote to West Brom and requested a meeting suggesting mediation.
The reply was
” I have discussed your suggestion regarding mediation with him ( Westhoff) and he has asked me to respond on his behalf.
Our view is that the Financial Ombudsman Scheme is in place to achieve the outcome you propose ie a mediated solution which avoids unnecessarily high legal costs. As your constituents have already registered their position with the Ombudsman we do not see that there is a need for any other form of mediation.
I hope this has clarified the position for you.
Andrew Jones
Group Risk Director
Mr Blunkett confirmed to me he added his name to the EDM .
He concludes his letter to me by saying
” This seems to me to be a complete fob-off and it is clear that they are digging in ”
I will email to thank him for his time and ask he votes on and hopefully would take part in a 90 minute debate.
I am not a great follower of Politics but are there ever times when MPs force the directors of large organisations into a meeting to explain their actions ?
Dean
Member Since September 2013 - Comments: 333
10:25 AM, 6th February 2014, About 12 years ago
Reply to the comment left by “Mark Alexander” at “06/02/2014 – 09:37“:
Mark,
For those people who are not directly affected by the hike but are supporting the campaign either financially or by way of their time input, maybe both. What is the summary of recent events?
My understanding is that you guys are about to have a covert meeting etc. So to speak 🙂
Member Since November 2013 - Comments: 82
10:25 AM, 6th February 2014, About 12 years ago
Reply to the comment left by “David Ellis” at “06/02/2014 – 10:16“:
Maybe 🙂
Member Since September 2013 - Comments: 49
10:28 AM, 6th February 2014, About 12 years ago
Reply to the comment left by “Mark Landlord” at “06/02/2014 – 10:14“:
I agree with you however I think the WBBS are definitely working on your property portfolio in September 2013 and couldn’t care less how many you had prior to this or after this date and are not prepared to change the rate back by just complaining to them where anyone had 3 or more buy to let properties in September 2013 unless of course they clearly made a mistake as in the case of Paul Eastabrook..
Member Since January 2011 - Comments: 12193 - Articles: 1395
10:32 AM, 6th February 2014, About 12 years ago
Reply to the comment left by “Richard Kent ” at “06/02/2014 – 10:25“:
Hi Richard
Yes that is correct. For legal reasons I’m afraid I can’t tell you any more than you already know at this stage.
.
Member Since January 2011 - Comments: 12193 - Articles: 1395
10:33 AM, 6th February 2014, About 12 years ago
Reply to the comment left by “Mark Landlord” at “06/02/2014 – 10:14“:
That’s what logic would suggest, even though it would remain flawed logic due to their being no definitive ruling of when a landlord ceases to be a consumer. The rule of 3 is made up entirely by the West Brom.
.
Member Since November 2013 - Comments: 82
10:37 AM, 6th February 2014, About 12 years ago
Reply to the comment left by “Dean ” at “06/02/2014 – 10:25“:
Seems that Mr Blunkett is very much aware of the situation but see Mr Westhoff couldn’t even respond personally but got the Group Risk Director to do it for him !!
No wonder Risk is in his job title !! 🙂
Member Since September 2013 - Comments: 333
10:38 AM, 6th February 2014, About 12 years ago
Reply to the comment left by “Mark Alexander” at “06/02/2014 – 10:32“:
Sure,
I was not asking you to publish details which might undermine your case 🙂
I’m sure we will get an update when you’re ready. 🙂
I see everyone is still battling away with letters to MP’s etc and they (MP’s) are starting to take the hike more seriously since the EDM especially.
Good news 🙂
Member Since November 2013 - Comments: 82
10:41 AM, 6th February 2014, About 12 years ago
Reply to the comment left by “Mark Alexander” at “06/02/2014 – 10:33“:
Totally Mark !