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

11:36 AM, 20th February 2014, About 10 years ago

Reply to the comment left by "Denise D" at "20/02/2014 - 11:28":

Great idea Denise, lots of us will be in London on the 27th for the meeting too so maybe we should update the second leaflet which Andy Bell was working on:)
.

11:55 AM, 20th February 2014, About 10 years ago

Apparently the show is FREE and offers:

* A comprehensive exhibition offering some great product and service deals
* Great free seminars, focusing on hot industry topics and practical tips
* Fantastic networking opportunities
* Accreditation taster sessions

so maybe anyone in London for any other reason (!) might wanna pop along?

The e mail I received offered the opportunity to:

Visit their website at http://www.landlordshow.info to find out more and book free show tickets!
It says: Whatever you need to help you succeed as a private rented sector professional, they are sure you'll find what you are looking for.

Richard Adams

13:31 PM, 20th February 2014, About 10 years ago

Reply to the comment left by "Denise D" at "20/02/2014 - 11:55":

Denise

I attended the previous Landlord & Letting Show last year at Stoneleigh, handed out leaflets etc etc and reported it exhaustively in the Forum exhorting a member or members to attend the forthcoming show you are drawing attention to. Effectively you are just repeating what I have already said as if it was a new idea!

Mark Alexander - Founder of Property118

13:35 PM, 20th February 2014, About 10 years ago

Reply to the comment left by "Richard Adams" at "20/02/2014 - 13:31":

That was a long time ago Richard, anything on a forum more than a week old is a new idea. Proof of that is on this forum. How many times I have answered the same questions? LOL

I'm very grateful for Denise raising this point again and for your efforts at Stoneleigh last year 🙂
.

13:42 PM, 20th February 2014, About 10 years ago

sorrrrrrrrrrrrry Richard. I am well aware that someone went to the last thing and I wasn't presenting it as a NEW idea - just as an idea. Presumably though we do have some NEW members who, unlike me, won't have read though every single posting of the 1000s written?
I apologise for not giving you your due credit but tbh don't actually always recall exactly who did what (I am almost an OAP now you know)

Richard Adams

13:54 PM, 20th February 2014, About 10 years ago

Reply to the comment left by "Mark Alexander" at "20/02/2014 - 13:35":

Your willingness to re answer the same questions over and over is a commendable virtue Mark for which you have my undying admiration and I'm sure all are grateful for it. I know I could not aspire to the same level of necessary patience. I made this pretty clear in my last post.. If I have caused offence I apologise.

Ian Burton

13:56 PM, 20th February 2014, About 10 years ago

Hi Denise
You and me alike. I have read every post (even though it causes brain ache) and I too cannot remember who wrote what and when. However I agree we should all assume nothing we write is original and is probably prompted by something we have read.

So to all and sundry if I have pinched or repeated your idea(s) and not acknowledged your IP (Intellectual Property) please forgive me. My only excuse (besides age )is we we are all trying hard (sometimes too hard)

14:25 PM, 20th February 2014, About 10 years ago

Pretty sure I wasn't inferring in any way it was a new idea? Certainly wan't my intention to steal anyone's thunder if thunder there was to be stolen! I was just innocently trying to keep the momentum up and keep this thing moving along for the benefit I firmly believe of all - especially as it feels to me as if the general forum is suffering somewhat from the opening of the secure version and I'm thinking (and worrying) that maybe general forum members (not to mention WBBS) might be feeling we have died in the water!

Richard Adams

14:31 PM, 20th February 2014, About 10 years ago

Reply to the comment left by "Denise D" at "20/02/2014 - 13:42":

You are a spring chicken Denise, I am already an OAP although you would never guess it from my looks or ongoing sharp intellect!!!!

The Landlord & Letting Show though is a worthwhile exercise as I discovered. I took a bunch of flyers which had been well produced just then by a member (my sharp intellect has temporarily failed as I can't remember who - Andy?) and engaged visitors to the show in conversation handing out said flyers. They were all BTL mortgage borrowers mainly although none were with WB. Got a sympathetic response.

I also spoke with nearly all the stall holders - insurance brokers, letting agents and indeed anyone with BTL landlords amongst their existing clients - asking them to make their clients aware of the issue and Property118.

Made a day of it and handed out ALL the flyers I took and there were plenty. Apart from one landlord in the refreshment area who resented being interrupted stuffing a sandwich into his ugly gob I was well and sympathetically received.

We have a better story now than back then with the action and EDM so it would be well worthwhile someone - doesn't need more than one really - repeating the exercise at the Barbican.

The precise effect cannot be judged but in terms of us throwing mud against the wall on basis of the more you throw the more will stick it has to be good to do.

A bit of "neck" is required but fortified by knowing one is championing a good cause there is nothing to fear. I enjoyed telling the sandwich stuffing bozo what I thought of his response - in polite terms I hasten to add.

Andy Bell

14:50 PM, 20th February 2014, About 10 years ago

Still razor sharp Richard, twas I.

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