FOI Disclosure Log
15 June 2021
We would like to ask for an update on your current and historic LOBO loan portfolio.
We have reason to believe that in 2015 you held a certain number of LOBO loans and that some of these may now have been cancelled or transformed into fixed-rate loans. The information requested below is for all the LOBO loans you originally held in 2015 and any changes to them since.
A. A spreadsheet in .xls format, with one line for each loan and the related information under each of the following column headings:
1. Reference number
3. Initial counterparty
4. Most recent counterparty
5. Date when the loan was transferred to the most recent counterparty.* 6. Drawdown date 7. Maturity date 8. Option period indicated in months 9. Teaser rate (if applicable - this is an initial low rate for the first years of the loan) 10. If there is a teaser rate, date when the rate changes to the initial rate 11. Initial interest rate 12. Has the option been exercised?
13. If yes, date when the option was exercised.
14. Most recent interest rate
15. Fairvalue of the loan at the end of the 2015/16 financial year 16. Fairvalue of the loan at the end of the 2016/17 financial year 17. Fairvalue of the loan at the end of the 2017/18 financial year 18. Fairvalue of the loan at the end of the 2018/19 financial year 19. Fairvalue of the loan at the end of the 2019/20 financial year 20. Fairvalue of the loan at the end of the 2020/21 financial year 21. The name of the Treasury Management Advisor at the time the loan was taken out 22. The name of the broker who arranged the loan 23. The fee paid to the broker to arrange the loan 24. Please indicated if the loan has been cancelled, refinanced, restructured, including cases when the options were removed.
*Note: If there have been other counterparties during the term of the loan, please indicate in the notes the name of the other counterparties and the date when the loan was transferred to them.
B. For all the loans that have been cancelled, refinanced or restructured, including cases when the options were removed, please provide the following additional information:
25. The date on which the loan was cancelled, refinanced or restructured.
26. The breakage cost for the cancelling, refinancing or restructuring of the loan 27. New interest rate in the case of a restructuring 28. New maturity date in the case of a restructuring 29. Fairvalue of the new loan at the end of 2016/17 30. Fairvalue of the new loan at the end of 2017/18 31. Fairvalue of the new loan at the end of 2018/19 32. Fairvalue of the new loan at the end of 2019/20 33. Fairvalue of the new loan at the end of 2020/21 34. Name of the advisor for the cancelling, refinancing or restructuring of the loan 35. Fee paid to the advisor for the cancelling, refinancing or restructuring of the loan
C. A second spreadsheet in .xls format, with one line for each loan showing the following information:
- 1st column: internal reference number
- 2nd column: Principal
- 3rd column: initial interest rate
- 4th column: most recent interest rate
- 5th column: Original projection of the total interest to be paid over the whole term of the loan (as from the drawdown date to the original maturity date, independently if the loan has now been cancelled or restructured)
- Followed by one column for each financial year from when the loan was taken out to 2020/21 indicating for each loan the total interest payment made in that year.**
**Note: Please provide the exact payments and not approximate calculations, as payments will vary depending on the calculation method (for example if it is a leap year or not).
D. A copy of all the original loans
09 July 2021
Thank you for your request for information, this has now been processed and the information that we hold is enclosed.
Eastherts has no LOBO loans or conversions of loans in that format
If you have any queries or complaint about the processing of your request please do not hesitate to contact me.
For re-use of information and conditions on the use of personal data please see
Alternatively for more information on the Freedom of Information Act contact the Information Commissioner at:
Information Commissioners Office
Telephone 0303 123 1113
It is important that you include the above FOI reference number on all correspondence related to this request.
Thank you for your request.