Lloyds Banking Group’s exposure to the riskiest mortgages is more than twice that of any of its top five rivals.
Loans representing more than 25% of its mortgage book are worth at least 90% of the property value they are secured against, data published by the Bank of England shows. The Financial Times says the situation is potentially a ticking time bomb for the lender. Lloyds will announce the results of a strategy review on Thursday which could be used to outline possible asset sales and restructuring.
27/06/11 Financial Times 17, 19
Times 34
Daily Telegraph B3
