“A LOBO is a “teaser rate” loan, designed to initially sweeten the deal, featuring interest rates that can be periodically “called” higher by the bank, meaning the potential for 40-50 years of variable interest pain.”
Interesting link here giving a breakdown of why this is an issue https://www.opendemocracy.net/ourkingdom/joel-benjamin/dispatches-how-local-governments-are-being-fleeced-by-banks-for-%C2%A315bn
Graphs though only cover England it seems.