It doesn’t trust all lenders to follow the stricter criteria Lloyds and RBS have introduced and prevent buyers from overstretching themselves.
The measures don’t solve London’s affordability problem — but nor should they kill the property boom stone dead.
One year into his residency at Threadneedle Street, the sheen might have come off Carney for his wobbling on interest rates, but here he appears to have struck a reasonable balance.
