LGA urged to act on LOBO loans

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.

Want full article access?

Receive The MJ magazine each week and gain access to all the content on this website with a subscription.

Full website content includes additional, exclusive commentary and analysis on the issues affecting local government.

Already a subscriber? Login

Business Finance Local Government Association Politics Chief executives Councillors CIPFA