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 August 2013 - Comments: 126
1:35 PM, 14th February 2014, About 12 years ago
Reply to the comment left by “Nicola Everden” at “14/02/2014 – 10:21“:
You better hope that evidence of existance of the ISA isn’t requested then.
As Mark says this is for the protection of borrowers. More importantly it gives the lender a very strong position should the mortgage not be settled on the contractual redemption date.
Comments: 55
1:41 PM, 14th February 2014, About 12 years ago
Reply to the comment left by “Colin Childs” at “14/02/2014 – 13:35“:
so if I tick that it will be on the sale of the house will that cause me a problem?
Member Since January 2011 - Comments: 12193 - Articles: 1395
1:53 PM, 14th February 2014, About 12 years ago
Reply to the comment left by “Nicola Everden” at “14/02/2014 – 13:41“:
I would not tick any of the boxes if I were you. I would simply write on the form “please see attached letter” and then use the text which I suggested above 🙂
.
Comments: 55
2:16 PM, 14th February 2014, About 12 years ago
Reply to the comment left by “Mark Alexander” at “14/02/2014 – 13:53“:
Thanks Mark will do
Member Since November 2013 - Comments: 82
2:47 PM, 14th February 2014, About 12 years ago
EDM numbers up one more to 44 MP’s
http://www.parliament.uk/edm/2013-14/976
Member Since November 2013 - Comments: 342 - Articles: 1
3:17 PM, 14th February 2014, About 12 years ago
this is what I got back from my MP
“Thank you for your letter of 17th January, and please accept my apologies for the delay in responding to you. As you may understand, we are currently dealing with a great number of issues on behalf of constituents facing flooding problems.
I do very much understand the issue you raise in respect of the financial institutions. I’m afraid I have had far too many instances of constituents who have found themselves victims of what I consider sharp practice by banks and building societies in recent years. We have periodically debated such matters in the house, and I have participated when I have been able to do so.
I wish David Morris well in his efforts to secure a further opportunity to discuss the matter. As I am currently sponsoring attempts to get other constituency matters debated as a matter of urgency, it would perhaps be inappropriate for me to add my name to his motion, as I would be competing with my own requests, but I am sure, given the number of constituents across the country affected, he will secure widespread support.”
any ideas as to how I should respond to him as it is a very kind and supportive stance in many ways ?
Member Since January 2011 - Comments: 12193 - Articles: 1395
3:45 PM, 14th February 2014, About 12 years ago
Reply to the comment left by “All BankersAreBarstewards Smith” at “14/02/2014 – 15:17“:
Yes, request a meeting. Let him know that 2.5 million people across the Country could be affected, many of them being his potential voters. Does he really not want to be seen to have taken the initiative to nip this in the bud before it affects such a potentially huge percentage of his constituents?
.
Member Since October 2013 - Comments: 1020 - Articles: 47
3:59 PM, 14th February 2014, About 12 years ago
Hi Mark
As I got an email about each post on the Welcome thread I thought I would receive an email when there was a new post on the main thread. Thanks for drawing my attention back to it.
Member Since October 2013 - Comments: 1020 - Articles: 47
4:04 PM, 14th February 2014, About 12 years ago
The Secure Forum, I mean.
Member Since November 2013 - Comments: 342 - Articles: 1
4:11 PM, 14th February 2014, About 12 years ago
Reply to the comment left by “Mark Alexander” at “14/02/2014 – 15:45“:
thanks mark – he has already told me twice in recent weeks that he is not standing again at the next general election… so I am not sure that your suggestion one which he will take terribly seriously…..