Friday, July 29, 2016

50 councils face residents’ objections to LOBO loans

Check out MJ article (Municipal Journal - you need to have a paid account unfortunately) on the up to 50 objections by residents in different Councils (including Newham) at the use of  "controversial Lender Option Borrower Option (LOBO) loans,

a campaigner has predicted. Joel Benjamin, of Debt Resistance UK, said the next step after that would be to ‘escalate the issue up the chain to the Local Government Association [LGA] Mr Benjamin revealed the strategy after Newham LBC’s cabinet member for finance, Cllr Lester Hudson, said his council had discussed the issue with the LGA and would consider participating in joint legal action’.

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