Market-based loan repayment penalties imposed by the UK government are being blamed for worsening pressures faced by local councils, and incentivising property speculation. Now calls are being made to reform the system.
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Market-based loan repayment penalties imposed by the UK government are being blamed for worsening pressures faced by local councils, and incentivising property speculation. Now calls are being made to reform the system.
Continue reading..Between July 2007 and November 2008, Newham council entered into 10 range LOBO loans with Barclays worth a total of £238.5 million. New information on the council’s controversial loan portfolio shows the impact of its relationship with Barclays, raising questions about risk management decisions.
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