LOBO loans

The request was successful.

Dear Chelmsford City Council,

1. How many Lender Option Borrower Option (LOBOs) contracts do you
have on your books?
2. When were they signed? and by whom?
3. With which financial institutions were they taken out?
4. Who advised the council to enter the LOBO(s)
5. Since each Contract has been signed, has the lender exercised
their option and changed the interest rate?
6. If so, please specify the dates of the interest rate changes and
the revised interest rates.
7. Please provide a copy of the original, signed LOBO agreements.

Yours faithfully,

Samuel Wade

Dear Chelmsford City Council,

By law, as an authority, you should have normally responded promptly to this FOI request which should have been within 20 days of the original submission date of the request.

Yours faithfully,

Samuel Wade

Information Request, Chelmsford City Council

Dear Samuel,

I am sending this email in response to your Freedom of Information Act (2000) request reference IR 6437. Please use this reference in any subsequent contact relating to this request.

I apologise for the delay in responding to your request. The delay was caused by officers being on annual leave when this response was due and we were unable to gain confirmation on the response before the deadline.

Response
I can confirm that Chelmsford City Council do not have any Lender Option Borrower Option (LOBOs) contracts.

Again, I apologise for any inconvenience caused by the delay. If you would like a more formal Internal Review undertaken, then please let me know and the Council will carry one out.

Right to Internal Review
If you are dissatisfied with this response or with the way your request has been handled under the Freedom of Information Act, you have the right to ask for your request to be independently reviewed by the Director of Corporate Services. You should set out your representations in writing explaining why you are dissatisfied with this response or the way your request has been handled and send to [Chelmsford City Council request email] . The review will be conducted in accordance with the Council’s internal review procedure which is published on its website at http://www.chelmsford.gov.uk/node/33297 . You will be notified of the outcome of the review as soon as possible and in any event within 20 working days from receipt of your representations.

Appeal
If you should still remain dissatisfied following the outcome of the review, you may apply to the Information Commissioner for a decision by writing to:

Information Commissioner’s Office
Wycliffe House
Water Lane
Wilmslow, Cheshire, SK9 5AF
Tel: 0303 1231113 or 01625 545745

Yours sincerely,

Heather Binns
Information Officer
Chelmsford City Council

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