A number of mortgage lenders are planning to put a cap on lending to buy property in certain post-cod...
The move is to be discussed by the Council of Mortgage Lenders (CML) at a meeting today, the paper says, after Alliance & Leicester and Natwest decided to put in place the new limits.
Most lenders have already moved to increase the size of the average deposit to 10% from 5% on new loans during the course of the past year.
The new limits would, however, be more draconian, possibly limiting access to mortgages altogether as lenders become increasingly worried about a house-price fall leaving borrowers with negative equity.
Those areas affected primarily include London and other towns and cities in the Southeast such as Oxford, Brighton, and St Albans.
The Times says other mortgage lenders are against the plans, because they say they will cause house prices to fall.
In any case there is likely to be pressure to do something to stop house prices increasing at the same rate as during the past few years.
"The Financial Services Authority has already given warning that current lending practices may be over-generous. Once, borrowers were offered at most two-and-a-half times joint incomes. Now some lenders will offer up to five times a salary," The Times says.
Elsewhere, in The Times, the Telegraph and the FT, the euro and the EU take significant space.
The FT reports that the UK is planning to propose a UN-style security council made up of the three biggest members of the EU to speed up decision-making on economic, social and other policies.
Such a plan would be highly controversial and meet stiff resistance from smaller members, the FT warns, particularly given rows over attempts to impose similar moves in the past.
"The sensitivity of the issue was underlined in November when a row broke out after Tony Blair, Britain's prime minister, invited French and German leaders to a private dinner in Downing Street to discuss Afghanistan. After protests from other countries, the guest list was expanded to include Italy, Spain, Belgium and the Netherlands, plus Javier Solana, EU foreign policy chief."
The Telegraph and The Times, meanwhile, tackle the European issue by pointing to problems associated with the euro.
The Telegraph runs the story that the UK must lower the rate of the pound against the euro in order to restore a balance in the UK economy between consumers and producers.
Such a move could be done by the Bank of England's Monetary Policy Committee selling pounds on the international market, the paper quotes Peter Spencer of Ernst&Young's Item Club - an economic forecasting group.
He is reported to say that the pound could lose up to 10% of its value relative to the euro without the MPC threatening its target of restricting UK inflation to 2.5% annually.
The Times picks a starker line, saying early entry into the eurozone would lead to the loss of 150,000 UK jobs over the first three years of membership unless the exchange rate was fixed first.
"Signing up to the euro at any exchange rate above 1.50 euros would prolong the perils of the two-speed economy, with a serious loss of manufacturing competitiveness," The Times says.
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