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Pin to quick picksLloyds Share News (LLOY)

Share Price Information for Lloyds (LLOY)

London Stock Exchange
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Share Price: 52.18
Bid: 52.26
Ask: 52.30
Change: 0.12 (0.23%)
Spread: 0.04 (0.077%)
Open: 52.38
High: 52.90
Low: 52.18
Prev. Close: 52.06
LLOY Live PriceLast checked at -

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Lloyds puts cap on mortgage applications

Wed, 21st May 2014 10:30

Lloyds Banking Group has announced it will cap mortgage applications of more than 500,000 pounds at no more than four times a borrower's salary.With the average price of homes in London at £459,000, according to the Office for National Statistics (ONS), the lender's move is likely to fuel concerns over soaring prices in the City.The new restrictions on the bank's lending policy comes after the Bank of England (BoE) said mortgages of up to five times income could lead to problems in the future.BoE Governor Mark Carney warned at the weekend that accelerating prices posed the biggest risk to economy recovery.Prime Minister David Cameron on Tuesday revealed he was ready to amend the government's Help to Buy scheme if Carney suggested a change of direction to stop the market from overheating.Low borrowing costs have boosted the demand for mortgages and property in the UK but fears over a housing bubble have put pressure on the BoE to raise interest rates. Stephen Noakes, director of mortgages at Lloyds, said the decision to restrict lending was to address specific inflationary pressures in London, where house prices are up 30% from their 2007 peak."This is largely driven by issues of supply which are particularly acute in London."The announcement sparked speculation that rivals may follow suit as a report from the ONS revealed house prices had surged by an average of 17% over the past year.RD
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25 Jan 2024 14:41

Lloyds Banking Group to cut 1,600 jobs across branch network

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Bank of England says 'ring fencing' capital rules for retail banks need no major overhaul

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UK Chancellor Hunt meets top UK bank heads over plans to boost City

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22 Jan 2024 08:34

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M&S shares, Wall Street sell-off drag FTSE lower

U.S. inflation data sparks selloff

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(Alliance News) - Big Yellow Group PLC on Thursday said that revenue and lettable area had increased despite occupancy dropping during the "seasonally weaker third quarter".

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