Local Authority Lender Option Borrowing Option - LOBO deals

The request was successful.

Dear Eastleigh Borough Council,

Has the council ever taken a Local Authority Lender Option Borrowing Option - (LOBO deal) if so

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.

additionally

Please provide me with details of relationships with financial brokerage firms , and financial advisers their fees and charges incurred by the council over the last 20 years

Yours faithfully,

Rigel Jenman

Okafor, Francis, Eastleigh Borough Council

5 Attachments

Dear Mr Jenman  

 

Re: Request for Information

 

I refer to your email of 26 June 2014. All requests for information are
dealt with by the Freedom of Information Officer (and/or officers within
the Legal Services department) to ensure that all requests for information
are recorded with a central point of contact who has knowledge of the
relevant legislation. In addition to your request received on 19 June
2014, I have received another 5 requests for information from yourself on
the 07/07/2014.

 

We are currently treating your request as a request for information under
the Freedom of Information Act 2000.

 

As required by law, the Council will respond to you as soon as possible
and no later than twenty working days after the receipt of your request.

 

Should you have any queries, please do not hesitate to contact me.

 

Yours sincerely

 

Francis Okafor 

Freedom of Information Officer

Legal and Democratic Services

Eastleigh Borough Council | Eastleigh House | Upper Market Street |
Eastleigh | SO50 9YN

[1]Direct Dial 023 8068 8285  

[2][IMG] eastleigh.gov.uk [3][IMG] @EastleighBC [4][IMG]  /eastleighbc

[5]We've Moved

From Monday 24th March our address is now Eastleigh House, Upper Market
Street, Eastleigh. SO50 9YN

show quoted sections

Okafor, Francis, Eastleigh Borough Council

5 Attachments

Dear Mr Jenman

 

Re: Request for Information – LOBO Deals

 

Thank you for your Freedom of Information request which we received on the
7 July 2014. I can confirm that Eastleigh Borough Council does hold the
information requested, as set out below.

 

 

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

None

 

2.    When were they signed?

n/a

 

3.    With which financial institutions were they taken out?

n/a

 

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

n/a

 

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

n/a

 

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

n/a

 

7.    Please provide me with details of relationships with financial
brokerage firms , and financial advisers their fees and charges incurred
by the council over the last 20 years

None in relation to property and mortgages, however the Council does have
Treasury Management Consultants who advise on Council investments.

 

 

Please do not hesitate to contact me if you have any further enquiries
regarding your request.

 

If you do wish to make a formal complaint with regards to your information
request please contact:

 

Mr Richard Ward

Head of Legal and Democratic Services

Eastleigh Borough Council

Eastleigh House

Upper Market Street

Eastleigh

SO50 9YN

Fax: 023 8068 8122

Email: [1][email address]

 

If you are unhappy with the way in which your request has been dealt with
then you may apply to the Information Commissioner for a decision. The
contact details for the Information Commissioner are:

 

The Information Commissioners Office

Wycliffe House

Water Lane

Wilmslow

Cheshire

 

Yours sincerely

 

Francis Okafor 

Freedom of Information Officer

Legal and Democratic Services

Eastleigh Borough Council | Eastleigh House | Upper Market Street |
Eastleigh | SO50 9YN

[2]Direct Dial 023 8068 8285  

[3][IMG] eastleigh.gov.uk [4][IMG] @EastleighBC [5][IMG]  /eastleighbc

[6][IMG]

Sign up to 'My Eastleigh' - my.eastleigh.gov.uk

show quoted sections