Loans | LocalGov


Isle of Wight debt accounts for 42% of annual budget 30/01/2024 Isle of Wight Council has insisted it borrows to invest in essential projects after revealing its debt amounts to 42% of the authority’s annual budget.
Plymouth reaches impasse with auditor 30/08/2023 Auditors could issue a qualified opinion on Plymouth City Council’s accounts after questioning its methods to pay off a multi-million pound pension deficit.
Coventry City Council £1m loan at risk after culture trust goes bust 01/03/2023 A trust set up to promote culture in Coventry after the city's year as City of Culture in 2021 has gone into administration putting a £1m council loan at risk.
Woking Borough Council warns of possible S114 22/02/2023 Woking Borough Council has warned that it is ‘in the territory’ of effective bankruptcy as it struggles with over £2bn of debt.
Brighton grapples with £44m 'high risk' loan 10/02/2023 Brighton & Hove City Council will have to put aside millions of pounds every year to cover a £44m loan labelled ‘high risk’ by auditors.
MPs warn of ‘eye-watering’ levels of fraud in COVID scheme 27/04/2022 The Government is ‘complacent’ about preventing ‘eye-watering’ levels of fraud in the COVID Bounceback Loan Scheme (CBLS), new report by the PAC concludes.
London borough settles LOBO loan dispute 21/02/2022 Newham Council has reached a multimillion pound deal with Barclays Bank to settle its long-running Lender Option Borrower Option (LOBO) loan dispute.
Liverpool Council refinances £65m LOBO loan 02/12/2021 Liverpool City Council has completed a debt refinancing deal in a move that will save £15.8m.
Developers offered loans to build new schools 10/10/2019 Housing developers will be given loans from the Government to build new schools before new properties are finished.
Government announces £155m of loans to build housing 25/06/2019 Loans worth £155m have been announced to create 660 new homes in Wimbledon and Southampton.
Councils urged to work with credit unions to prevent homelessness 17/06/2019 Councils could save millions of pounds by partnering with credit unions to offer interest free loans to families at risk of eviction, a new study has found.
Council to save £143m after ending LOBO loan 07/05/2019 Newham Council is set to £143m after successfully terminating its Lender Option Borrower Option (LOBO) loans with NatWest bank.
Whitehall lends partnership over £7m for Birmingham development 21/03/2019 The Government has agreed to a £7.45m loan in order to kick start the development of a brownfield site in Birmingham city centre.
Leicestershire CC recovers £5m loan from struggling Northants 03/01/2019 Leicestershire County Council has recovered its £5m loan to cash-strapped Northamptonshire after concerns the latter would not be able to repay the money.
Councils could save £16bn by refinancing LOBO loans, research finds 29/11/2018 Councils are failing to save £16bn by not replacing their expensive LOBO loans with ones from the Government, new research has warned.
Kent CC pays back LOBO loan early 02/11/2018 Kent County Council has reached an agreement with Royal Bank of Scotland to pay back its LOBO loan debt early.
Kensington and Chelsea credit union ‘goes bust’ 10/10/2018 A credit union in Kensington and Chelsea which included several former residents of Grenfell Tower has gone bust.
Council takes football club to court over £80,000 loan disagreement 07/09/2018 A council has launched legal action against a football club over money for a new stand which it says should have been repaid.
Council to approve accounts after LOBO loan delay 24/08/2018 Lancashire County Council’s accounts are set to be approved after a temporary delay caused by a complex £50m loan deal.
Councils sue Barclays over controversial LOBO loans 16/07/2018 Barclays are being sued by 14 local authorities over allegations it committed fraud over loans to councils.
i360 asks to delay loan repayments to council 07/06/2018 The i360, Brighton’s seafront observation tower, has asked Brighton & Hove City Council if it can reduce its loan repayments.
Homes England loans £22.4m to build Cambridge homes 01/06/2018 The Government today announced a new multi-million pound deal that will deliver 1,300 homes for Cambridge.
Blackpool considers lending £27.1m to NHS Trust 16/05/2018 Blackpool Council has proposed loaning a local NHS trust over £27m to help the health body invest in frontline services.
Campaigners call for inquiry into councils' 'toxic' loans 25/09/2017 Residents have raised objections against risky high-interest loans in 46 local authorities, campaigners have revealed.
Council in row with cancer drugs firm 26/05/2017 Liverpool City Council has appointed administrators to a pharmaceutical company which was loaned £2m by the authority.
Council to save £94m after axing high interest loans 28/02/2017 Newham Council has struck a deal to scrap its lender option borrower option (LOBO) loans and switch to normal fixed rate borrowing in a move that will save up to £94m.
Audit of Northampton Town loan to be revealed by council 18/11/2016 Northampton BC has announced that it will receive a report from auditors PWC into a loan to Northampton Town Football Club at a special meeting next Monday.
Councils should provide alternative to payday lenders 12/09/2016 Local authorities should provide alternatives to payday lenders through credit unions, according to a new report.
Barclays first bank to scrap LOBO loans 01/09/2016 Barclays has become the first bank to scrap high interest Lender Option, Borrower Option (LOBO) loans for councils.

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