LOBO Lender Option Borrower Option

Ranjan Kumaran made this Freedom of Information request to Newham Borough Council

This request has been closed to new correspondence from the public body. Contact us if you think it ought be re-opened.

The request was refused by Newham Borough Council.

Dear Newham Borough Council,

1. How many Lender Option Borrower Option (LOBOs) contracts do you have on your books?

2. When were they signed?

3. With which financial institutions were they taken out?

4. Since each Contract has been signed, has the lender exercised their option and changed the interest rate?

5. If so, please specify the dates of the interest rate changes and the revised interest rates.

6. Please provide a copy of the original, signed LOBO agreement.

Yours faithfully,

Ranjan Kumaran

Newham Borough Council

REQUESTER REFERENCE: C8875
ENQUIRY REFERENCE: E17833
Please quote your references when contacting the Council.

Dear Sir/Madam,

Freedom of Information Act 2000

Thank you for your request for information received on 02/01/2014. We are dealing with your request and plan to respond before 30/01/2014.

If you have any queries or concerns, please contact the Information Governance Team on 020 8430 3737 or email us at: [Newham Borough Council request email]

Yours Faithfully

Information Governance Team
Newham Council

Newham Council Publication Scheme is on: www.newham.gov.uk

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Newham Borough Council

1 Attachment

Dear Mr Kumaran,

 

We attach our response under the disclosure provisions of the Freedom of
Information Act 2000.

 

If you require any further information please do not hesitate to contact a
member of our team on (020) 8430 2000 or email us at
[1][Newham Borough Council request email].

 

Alternatively, if you believe we have not dealt with your request
satisfactorily you may initially complain to us and then to the
Information Commissioner's Office. The Information Commissioner would
expect you to have given the Council the opportunity to deal with your
appeal prior to you contacting them. Please see guidance on the Freedom of
Information Appeals page:
[2]http://www.newham.gov.uk/YourCouncil/Fre...

 

As with other local authorities, the number of enquiries has increased
each year since the introduction of the Freedom of Information
legislation.  Therefore, to enable us to deal with your enquiry more
efficiently, we have introduced an online form.  We would ask that you
submit all future requests via our online form:

[3]https://forms.newham.gov.uk/AF3/an/defau...

 

In addition, you may find it useful to access the following link, where
you can view our Publication Scheme, a list of previous requests and
responses and/or use our E-Form should you wish to make further requests:

[4]http://www.newham.gov.uk/YourCouncil/Fre...

 

Yours faithfully,

Information Governance

London Borough of Newham

Newham Dockside, 1000 Dockside Road,  London E16 2QU

Tel: 020 8430 2000

Fax: 020 8430 1504

 

 

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Dear Newham Borough Council,

Please pass this on to the person who conducts Freedom of Information reviews.

I am writing to request an internal review of Newham Borough Council's handling of my FOI request 'LOBO Lender Option Borrower Option'.

I believe the public interest in disclosure outweighs the banks'
request for non-disclosure due to competition concerns.

Please note I have FOI'd several other London local authorities who
have produced full details of their lobo contracts including
interest rates, step-up dates, names of lenders and the dates at
which the contracts were signed. I have received copies of LOBO
contracts taken out with Barclays and RBS amongst others.

A full history of my FOI request and all correspondence is available on the Internet at this address: https://www.whatdotheyknow.com/request/l...

Yours faithfully,

Ranjan Kumaran

Newham Borough Council

Dear Sir/Madam,

Thank you for your email.

Please be advised we have referred this matter to the Head of Service and an Internal Review will be conducted into the information provided in our original response.

Yours sincerely
Information Governance Team
London Borough of Newham

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Newham Borough Council

1 Attachment

Dear Mr Kumaran

please find response to your appeal.

Martin Gibbs I Head of Complaints and Member Enquiries I
London Borough of Newham
Newham Dockside I 1000 Dockside Road I London E16 2QU
DDI: 020 3373 1251 I Int: 31251

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Michelle vonAhn left an annotation ()

What makes Newham's contracts so much more sensitive than other boroughs, who have had no problem with supplying the requested information, including copies of their contracts?