LONDON, May 20 (Reuters) - Lloyds Banking Group,Britain's biggest retail bank, said on Tuesday that it wasintroducing tougher criteria on mortgage lending to help tacklerising prices in London's housing market.
The bank, which is 25 percent owned by the government, saidit would limit mortgages to a maximum of four times a borrower'sannual earnings when it is lending more than 500,000 pounds($842,400) on a property.
The bank said the policy change will impact about 8 percentof its lending in London.
($1 = 0.5935 British Pounds) (Reporting by Matt Scuffham; Editing by Steve Slater)
Lloyds (LLOY)