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 January 2011 - Comments: 12193 - Articles: 1395
10:26 AM, 15th October 2013, About 12 years ago
Reply to the comment left by “Dean ” at “15/10/2013 – 10:07“:
Signed and shared on Facebook. Now working my way through 300 emails and writing an update article.
Comments: 55
10:50 AM, 15th October 2013, About 12 years ago
My MP, Rehman Chisti has confirmed that he will write to the Chancellor of the Exchequer.
Member Since September 2013 - Comments: 96
11:00 AM, 15th October 2013, About 12 years ago
Welcome back Mark, hope you had a good break!
Member Since October 2013 - Comments: 386
11:06 AM, 15th October 2013, About 12 years ago
Reply to the comment left by “Mark Alexander” at “15/10/2013 – 10:26“:
Follow this link to a petition web site shown on BBC news this morning
http://www.change.org/petitions/west-bromwich-mortgage-company-limited-reverse-their-decision-to-increase-the-rate-on-buy-to-let-mortgages-which-was-not-noted-in-their-original-offer-letter-and-signed-agreement?utm_source=guides&utm_medium=email&utm_campaign=petition_created
Hopefully it will bring a few more to this site
I am not sure but I think it needs 100 signitures toactually go live on the Change.org site
We have 12 so far so please email the link to as many people as you all can . If it is 100 needed Iwould like it to go live today as it seems to be in todays news
Thank you
Member Since September 2013 - Comments: 96
11:15 AM, 15th October 2013, About 12 years ago
Thanks for the link Dean. My wife Di, and I have both signed up!
Member Since January 2011 - Comments: 12193 - Articles: 1395
12:16 PM, 15th October 2013, About 12 years ago
Please see my latest update article >>> https://www.property118.com/tracker-rate-class-actions-update/44117/
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Member Since October 2013 - Comments: 66
12:42 PM, 15th October 2013, About 12 years ago
Petition signed! I have also raised my complaint with FOS and the FCA.
Member Since September 2013 - Comments: 21
1:29 PM, 15th October 2013, About 12 years ago
Hi Mark,
I can’t find any docs for my mortgage with West Brom only letter from their solicitors when I remotgaged in Dec 07. I lost a lot of paperwork when I had a flood last year – Will that matter? should I just send that to Justin along with my cheque? I have not received a response from West Brom yet, I have asked for copies of what I have signed, so could forward that onto Justin once received.
I have signed the petition and just going to email Watch dog again.
Hope you had a good rest!
Member Since November 2013 - Comments: 82
1:36 PM, 15th October 2013, About 12 years ago
Reply to the comment left by “Dean ” at “15/10/2013 – 11:06“:
Great idea Dean – just signed the petition now
Member Since January 2011 - Comments: 12193 - Articles: 1395
1:36 PM, 15th October 2013, About 12 years ago
Reply to the comment left by “Jackie Kay” at “15/10/2013 – 13:29“:
Hi Jackie
Just send the cheque and a covering letter explaining that you will forward the documentation in due course. Did you send the complaint letter template to west Brom? If so, they will probably reply in around a week and you can then send the missing documentation to Justin at that point.
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