Liberty Veritas Posted March 6, 2018 Report Share Posted March 6, 2018 Herefordshire council currently has two active LOBO loans, these loans are scandalous. The next time your hear someone from the council moaning about money just ignore them. Details of the loans: 1. Danske Bank A/S2 (2.11.2004): 50 years; £6,000,000.00 @1.60% * 2. Dexia Credit Local (02.02.2004): 50 years; £6,000,000.00 @2.85% ** Please note: *Interest rate 1.60% p.a. until 24 November 2006 then 4.50%p.a. **Interest rate 2.85% p.a. until 04 February 2006 then 4.50%p.a Quote Link to comment Share on other sites More sharing options...
megilleland Posted March 6, 2018 Report Share Posted March 6, 2018 First noted on this forum on July 6th, 2015 following a Channel 4 Dispatches programme. See page 7 here. Quote Link to comment Share on other sites More sharing options...
ragwert Posted March 6, 2018 Report Share Posted March 6, 2018 There are some 240 + local autrthorities with these LOBO loans with many owing 10s of millions even hundreds of millions like Newham Council that took out over half a billion.Worcester Council took out a £5 million LOBO loan in 2004. Quote Link to comment Share on other sites More sharing options...
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