FINANCE

Barclays scraps council LOBO loans

Barclays has become the first bank to scrap high interest Lender Option, Borrower Option (LOBO) loans for councils.

By Laura Sharman | 01 September 2016

Barclays has become the first bank to scrap high interest Lender Option, Borrower Option (LOBO) loans for councils.

The move will see more than 100 LOBO loans - thought to be worth around £8bn - converted into fixed-rate loans.

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Popular articles by Laura Sharman

  1. Gove signs devolution deals for Norfolk and Suffolk
  2. Autumn Statement: £1bn extension to Household Support Fund
  3. Autumn Statement: Social housing rent rise capped at 7%
  4. Directors warn needs of older and disabled people will not be met this winter
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