Campaigners have called for Smith Square to investigate and pursue the brokers, banks and advisers 'complicit in the misselling' of controversial Lender Option Borrower Option (LOBO) loans.A cross-party letter, signed by councillors including Northamptonshire CC's shadow cabinet member for finance Mick Scrimshaw and Labour group leader Bob Scott, criticises the £15bn of LOBO loans to 240 UK councils.Conservative-controlled Northamptonshire, which issued the first Section 114 notice in almost 20 years earlier this month, is currently repaying £150m on 19 LOBO loans, with interest rates as high as 11% on one, according to data compiled by campaign group Debt Resistance UK.Northamptonshire's cabinet member for finance, Cllr Robin Brown, said: 'We have been active in trying to reduce our exposure to the risks of these loans and in the last year alone converted £20m of such loans into fixed term loans with the same interest rate at no additional cost. Discussions are also active to convert more of these loans in a similar way to further reducethe council's exposure to such risks.'
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机译：竞选者呼吁史密斯广场（Smith Square）调查并追究有争议的贷款人借方选择权（LOBO）贷款“错失”的经纪人，银行和顾问。这是一份由跨党派的信，包括北安普敦郡议会影子内阁成员的议员在内。米克·斯克林肖（Mick Scrimshaw）和工党领袖鲍勃·斯科特（Bob Scott）批评了向240个英国议会提供的150亿英镑LOBO贷款。由保守党控制的北安普敦郡在本月初近20年中发布了第114条通知，目前正偿还19笔LOBO贷款中的1.5亿英镑。据竞选组织英国债务抵抗组织（Debt Resistance UK）汇编的数据，利率高达11％。北安普敦郡财政内阁成员罗伯特·布朗（Cllr Robin Brown）表示：``我们一直在积极努力减少我们面临的风险。这些贷款，仅在去年一年，就将2000万英镑的此类贷款转换为具有相同利率的固定期限贷款，无需支付额外费用。讨论也在积极进行，以类似方式转换更多此类贷款，以进一步减少理事会面临的此类风险。”
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