West Bromwich Building Society Tracker Margins Legal Action

West Bromwich Building Society Tracker Margins Legal Action

6:38 PM, 30th September 2013, 13 years ago 3869

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

  • Member Since September 2013 - Comments: 80

    10:41 PM, 17th October 2013, About 12 years ago

    I posted an earlier comment about the WBBS having ‘previous’ about unfair contracts etc – it may have been an incorrect/crap or irrelevant post or it may not have been picked up on, but the link below is well documented about them losing a ‘similar’ case:

    Regardless of the defendants entity, The WB BS, I thought the area of Purpose and Context of Contract Law is also relevant to our issues with WBBS and also supports the Contra Proferentem angle.

    http://en.wikipedia.org/wiki/Investors_Compensation_Scheme_Ltd_v_West_Bromwich_Building_Society

  • Member Since September 2013 - Comments: 80

    11:02 PM, 17th October 2013, About 12 years ago

    Reply to the comment left by “ian ” at “17/10/2013 – 22:38“:

    I have just complained to the following people from the British Building Societies Association about the behaviour of their member, WBBS. Perhaps other people should complain to….

    Hilary McVitty
    Head of External Affairs
    Phone: 020 7520 5926
    Email: [email protected]

    Victoria Bamber
    Press and Publications Officer
    Phone: 020 7520 5927
    Email: [email protected]

    Katie Wise
    Policy and External Affairs Officer
    Phone: 020 7520 5904
    Fax: 020 7240 5290
    Email: [email protected]

  • Member Since October 2013 - Comments: 44

    11:12 PM, 17th October 2013, About 12 years ago

    Well done Stuart and ALL I have written to all BSA contacts , MP , Watchdog twice , Local newspaper , e mailed all landlords i know , Contacted a local private housing group dealing with social housing who know and deal with many landlords and looks as though they are going to include it in their newsletter to same .
    Lets all do this now that templates and links are all here and very easy to use !

    Off on holiday shortly but i will be online once i arrive ! !

    No good about twitter and facebook etc Mark so i am afraid i didnt understand an earlier request from you to post links re resident broker adding our story to their latest newsletter

  • Member Since August 2013 - Comments: 126

    11:17 PM, 17th October 2013, About 12 years ago

    Reply to the comment left by “stuart marshall” at “17/10/2013 – 22:30“:

    There’s only one proper place to fight the cause and that’s in the courts. Negative publicity isn’t the way forward. Certainly doesn’t portray LL’s in a professional light.

  • Comments: 359

    11:34 PM, 17th October 2013, About 12 years ago

    well Colin – I for one don’t consider myself to be a professional LL!

  • Member Since September 2013 - Comments: 80

    11:43 PM, 17th October 2013, About 12 years ago

    Reply to the comment left by “chrisbusy ” at “17/10/2013 – 23:12“:

    Chris

    I am also looking to make issue with the following non execs of WBBS and with respect Colin Childs, negative publicity is definitely something that makes these people take note because they cannot hide behind their lawyers responses. So in the nicest possible way, forget you are a landlord and remember you are a always a consumer that has been conned.

    I will be taking issue and digging on the following non execs as listed below by WBBS.

    WEST BROMWICH BUILDING SOCIETY
    163RD ANNUAL GENERAL MEETING
    31ST JULY 2012 – 2.00 PM
    HELD AT WEST BROMWICH ALBION FOOTBALL CLUB
    Present : Mr M Nicholls – Chairman
    Mr J Westhoff – Chief Executive
    Mr J Ainley – Non-Executive Director
    Mr M Gibbard – Group Finance Director
    Mrs C Hafner – Non-Executive Director
    Mr A Jones – Group Risk Director
    Mr M Ritchley – Non-Executive Director
    Mr R Sommers – Non-Executive Director
    Mr M Preston – Non-Executive Director
    Mr C Walklin – Non-Executive Director

  • Member Since October 2013 - Comments: 44

    11:55 PM, 17th October 2013, About 12 years ago

    At this stage Stuart i agree that any noise is good as we need to both unsettle WBBS in as big a way as we can to maybe ?? make them reconsider what they have done and also to alert unknowing Landlords to our campaign as ultimately Colin childs may be right in his point that we probably need to aquire the funds to ” GO TO COURT ” and we DO need to be aware that Landlords are sometimes thought of as rich greedy individuals in some circles regrettably , despite the fantastic and necessary service that we generally provide.

  • Member Since January 2011 - Comments: 12193 - Articles: 1395

    7:21 AM, 18th October 2013, About 12 years ago

    PUBLICITY STUNT

    I’ve been giving this a lot of thought. As you may be aware, Justin Selig is also a Partner in Landlord action. The founder of that company, Paul Shamplina is always on TV and the third partner in that business is a guy called Michael Kaplan who has a media/PR background. They also employ a PR company.

    I’m going to have a chat with Paul, Justin and Michael today about the prospect of organising a Press Conference in London. I think more people will be up for that as opposed to a trip to West Brom or trying to get us all together to organise a mock funeral in Central London which could backfire for so many reasons, e.g. weather, turn out of landlords, anti landlord demonstrators etc. I’ve been looking into the rules for public protests and we would have to give the Police at least 6 days notice. They also tend to be publicised in advance by the media and that could rile the anti-landlord mob so I’m quickly going off the protest idea.

    Meeting the media and you guys in London is appealing. I might even persuade more of you to add pictures to your member profiles! LOL

    The other thing I like about the Press Conference idea is that if only a handful of us turn out it will not look bad on us.

    What do you think?

  • Member Since January 2011 - Comments: 12193 - Articles: 1395

    7:25 AM, 18th October 2013, About 12 years ago

    Reply to the comment left by “stuart marshall” at “17/10/2013 – 22:41“:

    Hi Stuart

    I can assure you that I hadn’t missed the case you had linked to and neither had Justin. We agree that there are many similarities. I don’t think I commented previously as there wasn’t much to say. You post served as back up evidence supporting my point about the legal principles of contra proferentum. I suspect that’s how most people read it 🙂
    .

  • Member Since January 2011 - Comments: 12193 - Articles: 1395

    7:28 AM, 18th October 2013, About 12 years ago

    Reply to the comment left by “chrisbusy ” at “17/10/2013 – 23:12“:

    Hi Chris

    Regarding a link to the Resident Broker website.

    I had a look at the website but could not find the page. If you can find it, please copy the website address for the page (top line on your browser – e.g. property118.com/ …….) and then paste it here as a comment. I will then be able to click on the link to visit that website page 🙂
    .

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