West Bromwich’s Tracker Rate Victory Could Cost £2,000 million

Incredibly, two weeks ago,  the West Bromwich Building Society won a case in the High Court allowing it to increase margins on tracker rate mortgages, despite their being no increase in the Bank of England base rate, says David Lawrenson of LettingFocus.com. This has huge implications for all mortgage borrowers with a potential cost up to £2,000 million per annum in […]

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West Bromwich Mortgage Tracker Rate Cheating and Representative Legal Action

West Bromwich – your time is soon up. Time to face the music in the courts. I certainly hope that your executive will have a good explanation for your members to explain why you blew hundreds of thousands of pounds fighting and losing a court case, after you singularly failed to bully individual buy to let borrowers on Bank of […]

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Mortgage Tracker Rates Open Letter to Andrew Tyrie MP

In this letter to Andrew Tyrie MP I ask him to take action to stop mortgage lenders cheating their buy to let Bank of England (BOE) mortgage tracker rate customers by invoking small print terms in separate documents that were never meant to apply to BOE tracker loans. I have highlighted this by illustrating from my own personal experience with […]

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West Bromwich Building Society Mortgage Rate Hike

David Lawrenson, private rented sector expert and director of LettingFocus.com, highlights the risks to lenders of invoking terms in the small print of mortgage contracts to hike landlords’ tracker mortgage rates. At previous blog posts we predicted that it was likely that other lenders would follow the Bank of Ireland’s move in hiking interest rates on buy to let mortgage […]

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When is a Tracker Mortgage Not Really a Tracker Mortgage and How More Lenders Are Giving Themselves Get-Out Clauses

David Lawrenson of private rent consultants, LettingFocus.com explains how mortgage lenders have now set up get out clauses within their tracker mortgage deals which are so wide that the industry could eventually be forced to stop marketing them as tracker deals. He also predicts that the Bank of Ireland “rate hike” case will result in a victory for those landlords […]

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Bank of Ireland Mortgage Move Destroys Trust

David Lawrenson of www.LettingFocus.com says the move to hike rates on some Bristol and West Tracker Mortgages looks wrong – and destroys confidence in all lenders. When I speak to people who want to sell services to private landlords (which includes organisations like local authorities and housing associations that desperately need private rented sector landlords to make their houses available […]

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