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Freedom of information request response - 06582

FOI request

FOI ID number
06582
Regarding
LOBO Loans
Request

If Eden District Council has entered into a LOBO (Lender Option Borrower Option) Loan, please provide the following information:

  1. How many LOBO loans has Eden District Council entered into?
  2. In relation to question 1 above, in respect of each LOBO Loan:
    1. On what date was the loan documentation signed?
    2. Which financial institutions acted as the lenders?
    3. Did you receive any financial advice before entering into the LOBO Loan, and if so, from which organisation?
    4. Has the lender exercised their option under the LOBO Loan and increased the interest rate?
  3. If the answer to question 2(d) above is yes, did Eden District Council opt to continue with the LOBO loan at the increased rate of interest, or repay the loan?
  4. If the answer to question 3 above is that Eden District Council opted to repay the loan, were any early repayment penalties applied by the lender?

Our response

Response

Eden District Council does not have any LOBO loans, therefore the answer to all questions is not applicable.

Response date
13 December 2019