The last 12 months have been remarkable for changes at UK councils hobbled by lender option borrower option (LOBO) loans.

After years of denying the problem, attitudes at councils are changing, typified by the toppling of Newham’s long-standing mayor last year in favour of a transformative candidate, Rokhsana Fiaz. Multiple lawsuits have been filed by councils against the biggest LOBO lender, Barclays.