Property118 Action Group

We are on the verge on entering into legal action in respect of the mortgage interest rate hike imposed by Skipton Building Society (Amber Homeloans).

The action we have planned is not contingent on raising a fixed amount of money. It will occur regardless of whether we hit our current fund-raising targets.

As you will no doubt be aware, their standard variable mortgage interest rate should have been no more than 3.5% ever since the Bank of England base rate fell to 0.5%.

The legal strategy is a completely new one. We will not be reliant on funding from affected borrowers to take the matter to Court. All costs will be borne by Property118 Action Group and sponsors, details of which will be revealed in due course.

The new legal strategy will be disclosed exclusively and confidentially to founder members of Property118 Action Group no later than close of business on Friday 19th August 2016. Some early adopters will benefit from immediate legal action as a result of being a ”test case”.

It is extremely unlikely this action will benefit anybody other than Property118 Action Group members, unlike the case against West Bromwich Mortgage Company we recently WON at the Court of Appeal. That case resulted in £27.5 million of over-paid mortgage interest being ordered to be refunded to affected borrowers.

If you have been affected by the mortgage rate hikes imposed by Skipton Building Society then it is very much in your interests to become a founder member of the Property118 Action Group TODAY – please see the link below.

http://www.crowdfunder.co.uk/property118-action-group

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All the best

Mark Alexander – founder of Property118 Action Group