Miscalculated Mortgages With West Bromwich Building Society
Like many others, the West Bromwich Building Society increased their lending dramatically during the boom period of the late 1990s and early 2000s, and during that period they attracted a great many customers along the way. If you were one of them, there’s a chance that your mortgage payments may have been miscalculated. To find out more, simply call our team today on 0800 193 1234 for a friendly chat.
The West Bromwich Building Society is one of the oldest in the UK, dating back to the middle of the 19th century. When the lending boom came, it adopted an aggressive growth strategy in a bid to gain a larger slice of the mortgage market, and this included buy to let mortgages and commercial borrowing as well as the more traditional lending for home purchases.
The provider fell foul of a number of rules in regard to introducing rate changes that weren’t permissible, charging errors on redeemed mortgages and incorrect interpretations of their own terms and conditions. Their rapid expansion came to a halt in 2009 when they had to accept a last-minute rescue plan that enabled them to remain in business.
You may not even be aware that you’re a victim
It’s not easy for mortgage holders to ever know whether they are paying the correct amount on their monthly repayments. The mortgage itself is an extremely complex financial product, so there always has to be an element of trust involved. If the customer is being asked to pay a specific monthly cost, he or she needs to feel that this amount has been calculated correctly.
Our evidence has shown that in a number of instances with the West Bromwich Building Society this simply wasn’t the case. It’s worth remembering as well that a minor miscalculation in the early days of the mortgage can add up to a significant sum of money a few years later. We wouldn’t pay too much for any other product, so why should we do so with a mortgage?
Here at Beat the Banks, we’ve been fighting such injustices for many years, and we continue to mount compensation claims against banks, building societies and other credit providers. If you currently have a mortgage with the West Bromwich, or if you used to have one, we may be able to help you get the justice you deserve. Please call today on 0800 193 1234 and we can take things from there. We hope to hear from you soon.