West Bromwich Building Society Tracker Margins Legal Action

West Bromwich Building Society Tracker Margins Legal Action

18:38 PM, 30th September 2013, About 11 years ago 3869

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West Bromwich Tracker Rate Mortgages Legal Action Group

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

Tracker Rate Class Actions Updates

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.

Landlords take legal action against West Brom Mortgage Company

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

West Bromwich Mortgage Company Tracker Margins Legal Action


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Comments

Mark Alexander - Founder of Property118

15:39 PM, 8th February 2014, About 10 years ago

Reply to the comment left by "Denise D" at "08/02/2014 - 12:00":

That's what it should do LOL
.

AnneJ

16:01 PM, 8th February 2014, About 10 years ago

Hi L, yes please go ahead and post to the BOI forum. 🙂

8:04 AM, 10th February 2014, About 10 years ago

not getting any e mails now - hope that's just cos its gone quiet for the weekend!

Mark Alexander - Founder of Property118

8:22 AM, 10th February 2014, About 10 years ago

Reply to the comment left by "Denise D" at "10/02/2014 - 08:04":

Yes I think so.
.

All BankersAreBarstewards Smith

8:38 AM, 10th February 2014, About 10 years ago

Reply to the comment left by "Mark Alexander" at "10/02/2014 - 08:22":

Hi Mark - when the private forum goes live I hope you can give us generic (but non-litigant) supporters some general news here on the open forum as to how things are progressing ?

bw

Mark Alexander - Founder of Property118

9:32 AM, 10th February 2014, About 10 years ago

Reply to the comment left by "All BankersAreBarstewards Smith" at "10/02/2014 - 08:38":

Yes of course!

The secure forum will be to discuss privileged legal matters only. This forum will continue to be the one where we share all updates 🙂
.

Auntie P .

12:33 PM, 10th February 2014, About 10 years ago

Reply to the comment left by "Mark Alexander" at "06/02/2014 - 09:37":

Hi Mark,
I'm about to email my MP, David Ruffley. I notice that there are no MPs from Suffolk signed up so far. Would it be sufficient to write a few lines about my personal circumstances then copy and paste your link posted on 6th Feb (http://www.property118.com/tracker-rate-campaign-briefing-notes-for-mps/63465)
or do I need to add anything further?
It's difficult for me to find the time to keep up with the forum but I'm doing my very best and truly appreciate all the work and effort that members are putting in to overrule the unjust actions of WB.

Steve Gracey

12:51 PM, 10th February 2014, About 10 years ago

My MP (Nick Gibb) has replied telling me he has written to the Chancellor of the Exchequer and the Chief Executive of the FCA about this matter. He will write again when he gets responses.

Mark Alexander - Founder of Property118

12:57 PM, 10th February 2014, About 10 years ago

Reply to the comment left by "Steve Gracey" at "10/02/2014 - 12:51":

Great news thanks Steve 🙂
.

Paul Sotheran

14:25 PM, 10th February 2014, About 10 years ago

I also have received a response from my MP (Iain Wright) who has also written to the Chief Executive of the FCA. He would not sign the EDM on the basis that he believes they are largely a waste of time and money and they do not alter the law and do not change the Governments stance on any issue.

Nevertheless I have written back thanking him for his continued support and asking him if he will call for a debate on the issue.

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