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
The only way of dealing with British Islamic State fighters in Syria will be to kill them in almost every case, a minister has said.
A settled end to the weekend for many but a damp start to the working week
Liam Fox warned Brussels to put the prosperity of EU citizens ahead of any desire to make the UK pay a price for quitting the bloc.