Britain's biggest mortgage lender has said that from today, people applying to take out a mortgage worth more than £500,000 will see the amount they are allowed to borrow limited to four times their income.
ITV News Business Editor Joel Hills reports:
Lloyds says new limits will impact 2% of total mortgage lending. Bank wrote £37bn of new home loans in 2013.
Governor of the @bankofengland doesn't see a housing bubble but Lloyds Banking Group does, in London at least.
Lloyds Banking Group said it has been designed in a bid to tackle the pressure of housing inflation in the London market.
More top news
Parents Jay and Kateri Schwandt did not want to know the sex of their latest child before his birth.
Windrush immigrants Sonia Williams and Glenda Caesar are the first two cases to be resolved by the Home Office task force.
Priyanka Chopra wrote of how the compassionate royal bride-to-be cares deeply for the world