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
Comments
Have Your Say
Every day, landlords who want to influence policy and share real-world experience add their voice here. Your perspective helps keep the debate balanced.
Not a member yet? Join In Seconds
Login with
Previous Article
Has Capita thrown in the towel on Tenancy Deposit Protection?Next Article
Win A FREE Ticket to the NALS Conference
Member Since October 2013 - Comments: 66
11:43 AM, 16th October 2013, About 12 years ago
Reply to the comment left by “Mark Alexander” at “16/10/2013 – 11:00“:
Mark – need to speak with you about this as the recording has a fair chunk of personal information on there – account numbers, dates of birth etc so needs some editing! Never the less I have forwarded the full transcript to Justin Selig.
Member Since September 2013 - Comments: 5
11:43 AM, 16th October 2013, About 12 years ago
Reply to the comment left by “Mark Alexander” at “16/10/2013 – 11:32“:
Watchdog to probe tracker mortgage rate rises
http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/10381130/Watchdog-to-probe-tracker-mortgage-rate-rises.html
Member Since January 2011 - Comments: 12193 - Articles: 1395
11:59 AM, 16th October 2013, About 12 years ago
Reply to the comment left by “Matthew ” at “16/10/2013 – 11:43“:
Hi Matthew
I have emailed my contact details to you 🙂
.
Member Since October 2013 - Comments: 386
12:05 PM, 16th October 2013, About 12 years ago
Reply to the comment left by “Matthew ” at “16/10/2013 – 10:43“:
Thats good to hear Matthew . Hopefully you will be able to pass the recording to Mark and Justin.
That is however sad to hear that the guy at West Brom is off for a few weeks .
I hope it is planned leave and that he is not off with any form of stress brought about by our requests for the data ? If you speak to them again would you pass on mine and no doubt everyone on here whose mortgages look like increasing at an average of £2500 per mortgage per annum best wishes please ?
REWIND !!!
If he is off on planned leave what bad planning is that on WBs part. I would guess its not bad planning except for the fact the are so inept it probably is. However, its more likely to be a lie togive them more time to get this Subject Access Information together. An organisation as big as WB must have more than one person who can deal with this !!?
Does anyone know what the remifications of not getting the information requested within the required time limits are ?
It could also be that he is off with stress. In which case we can either sit back and wait , or anyone who has not sent in the request should send it in NOW. Those who have sent it in but whose cheques have not been cashed should follow it up with a letter asking them to confirm they have the request in writting and refer back to your earlier letter.
Those who are on here just supporting but dont have a mortgage with WB should send a letter requesting the information anyway ! That would throw them and probably take longer than the ones that do have information.
But what ever we do we must keep up the pressure. If WB have sent you any pre paid envelopes send them back with some blank paper in them anyway itll give them something else to do .
Apologies if someone else as covered any of this since Matthew wrote. I am just catching up on this mornings postings
Dean
Member Since January 2011 - Comments: 12193 - Articles: 1395
12:13 PM, 16th October 2013, About 12 years ago
Tracker mortgage images you might enjoy courtesy of Andy Bell 🙂
Member Since October 2013 - Comments: 386
12:16 PM, 16th October 2013, About 12 years ago
Reply to the comment left by “Mark Alexander” at “16/10/2013 – 10:43“:
I think Im in love with Nicola Blackmore !!!
Member Since October 2013 - Comments: 386
12:18 PM, 16th October 2013, About 12 years ago
Reply to the comment left by “Peter Cole” at “16/10/2013 – 11:09“:
Peter send two individuals ones create as much work for them as possible !!
Comments: 359
12:24 PM, 16th October 2013, About 12 years ago
Reply to the comment left by “Isaac Newton” at “16/10/2013 – 11:26“:
three times now – no response 🙁
Member Since October 2013 - Comments: 386
12:33 PM, 16th October 2013, About 12 years ago
Reply to the comment left by “Andy Bell” at “15/10/2013 – 22:26“:
Hi Andy
I have uploaded the image you sent me onto the Change.org website
It looks Bloody Great !!!
I have also added the link to todays Telegraph
There are 128 signitures on there now . I can email all these up to 3 times in 7 days I think? I intend to watch Watchdog tonight and then when we are not featured email everyone of them tomorrow to ask them all to email Watchdog on Thursday. Lets see if we can keep the publicity up following on from the telegraphs great article
Well done to everyone who took the time to email the Telegraph and other papers. Keep up the good work and pressure . Im still waiting to hear from Angela Smith our MP but it looks like most MPs are passing it onto the Treasury so that sgood too. If anyone hasnt written to their MP please do so while its fresh in the paper. If you need a link to the addresses let me know.
Dean
Member Since September 2013 - Comments: 24
12:35 PM, 16th October 2013, About 12 years ago
Skipton never got enough people behind it to do anything
They screwed me over – wrote about it here
http://www.whatsamsawtoday.com/2012/03/01/what-does-a-mortgage-contract-really-mean/
At least in the end, they offered me another deal – although the arrangement fees which they added to the loans runs into many, many thousands