MSE News: Buy-to-let borrowers hit by West Brom mortgage hike

BeetrootMike

Lewis_Ranieri wrote: »

Mike you can only convince yourself that is not my role.

Still ignoring my questions though.

BeetrootMike

brit1234 wrote: »

Mark Alexander what is your plan for your members if you lose the lawsuit? Is there a danger of your members having their mortgages recalled in and have to go else where at a far higher rate?

I'd rather be in a class action then on my own, which I would CERTAINLY have been if it wasn't for Property118.

What's your interest in this and why are you opposed to the class action?

rate_hike

If you go and click on lewis,s name look at the other posts he has put especially the proof of bank needing ID that will show his mentality even on there he was told to get lost wonder why LOL

BeetrootMike

brit1234 wrote: »

The West Brom action also appears greed motivated by your users and you.

If someone on the street came up to you took your wallet out of your pocket and walked away with it I take it you would't stop them because you'd see that as being greedy?

If so, i hope we meet one day, i'll take your money with pleasure just to make you feel good about yourself.

brit1234

BeetrootMike wrote: »

The terms were not written into the contract. That's the whole point. That's why West Brom are taking something they are not entitled to. We're happy to go in front of the judge to prove it. Why aren't they??

The terms and conditions allow for the rate hike due to the extreme circumstances ie the credit crunch. The simple fact that the company is making a lose on each mortgage to you and challenges the viability of the lender, it is right to raise interest rates.

The complainants are still getting a far lower mortgage rates than they got 5 years ago and I bet they didn't pass on the big mortgage rate fall to their tenants in the form of lower rents. This is just another tale of landlord greed.

rate_hike

Looks like you have a virtual mate also unaffected & clueless. what a very sad life you live. this is reality not XBOX

Lewis_Ranieri

We note that [Text removed by MSE Forum Team] is further avoiding the questions.


I could be the King of Siam, it's irrelevant, what is relevant is the POA and when the Claim fails, as it stands to, unfortunately, it will be too late.

Mark_Alexander

brit1234 wrote: »

Mark Alexander what is your plan for your members if you lose the lawsuit? Is there a danger of your members having their mortgages recalled in and have to go else where at a far higher rate?

My plan is no different to anybody else's. If a judge rules that West Brom have the right to increase rates and call in loans that is confirmation our solicitors, and IFA's if their advice was also sought, was negligent in failing to point out that risk. Cotswold Barristers instructions include a brief to sue the Professional Indemnity insurers of advisers on a no-win-no-fee basis if that happens, but I very much doubt it will. Therefore, members of the representative action group are effectively playing with a double headed coin.

rate_hike

Why don't you email West Brom directors with your concerns I'm sure they will be interested

brit1234

rate_hike wrote: »

Looks like you have a virtual mate also unaffected & clueless. what a very sad life you live. this is reality not XBOX

Please leave us and go back to property 118. This is a website to save people money not launch personal attacks and trick people out of thousands of pounds to massage [Text removed by MSE Forum Team] ego.