BUSINESS

LGA urged to act on LOBO loans

Campaigners have called for Smith Square to investigate and pursue the brokers, banks and advisers ‘complicit in the misselling’ controversial Lender Option Borrower Option (LOBO) loans.

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By Dan Peters | 15 February 2018

Campaigners have called for Smith Square to investigate and pursue the brokers, banks and advisers ‘complicit in the misselling' controversial Lender Option Borrower Option (LOBO) loans.

A cross-party letter, signed by councillors including Northamptonshire CC's shadow cabinet member for finance Mick Scrimshaw and Labour group leader Bob Scott, criticises the £15bn of LOBO loans to 240 UK councils.

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Dan Peters

Popular articles by Dan Peters

  1. Rayner: Prescott was an inspiration to me
  2. New anti-social behaviour powers planned for councils
  3. Commissioners not ruled out despite envoy appointment
  4. Woking's debt hits £2.1bn
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