Fighting West Bromwich Mortgage rate hike

By Andy the stuff doer

A little aside from the regular topics that I cover but this is part of campaign being organised to fight back against the Banks.  We all know the banks will try anything to squeeze more out of their customers but we can always shop around and the get the best deal..

That’s what I did to find a mortgage, it was sold to me (and 6700 others) as a Tracker, one that tracks the Bank of England Base Rate plus a percentage margin.  They where very keen to sell this to me thinking they would make a good profit on the deal.  But now, they have decided they need to make more money so they have changed the the tracker rate margin.

The main page on the iDoStuff shows what I thought I had and how they think they have a right to change it.

It seems they think they can away with this because it is a Buy to Let mortgage.  Yes, that makes me a Landlord but please don’t start moaning that Landlords deserve to burn in hell. Most of us (the ones you don’t get to hear about) are providing good quality housing with tenants that appreciate the service we provide.

I’ve posted the documents so you can ask yourselves, ” would I have signed up for this mortgage thinking it will track the BOE base rate?”

A group of Affected borrowers are getting together to fund a class action to challenge West Bromwich in court. If we don’t fight this and win, who knows whos mortgage will be next?

If you are affected please visit www.property118.  to join the fight.

Your comment are most welcome below.

Say No to the Misuse of Small Print on mortgage contracts.

Click to view the main page about the West Bromwich BTL tracker rate rise


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