London mortgages too hot for Lloyds, RBS

British banks Lloyds and Royal Bank of Scotland are staging a retreat from the London mortgage market amid growing fears the city’s property prices are running too hot.

Ben WoodheadHead of Platform Product

Updated May 27, 2014 – 4.09am, first published at May 26, 2014 – 8.10am

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British banks Lloyds and Royal Bank of Scotland are staging a retreat from the London mortgage market amid growing fears the city’s property prices are running too hot.

The Financial Times reports that Lloyds Banking group has more than halved its share of London lending since 2008, while RBS has pared London mortgages by a smaller amount.

Ben oversees design and development of newsroom and subscription platforms for The Age, The Sydney Morning Herald and The Australian Financial Review. Previously Ben was Deputy editor – Digital at the AFR.