Mortgage lenders and new borrowers urged to be 'realistic and pragmatic' as Covid-19 hits household incomes

Mortgage lenders and borrowers face "a challenging time ahead" as household incomes are hit hard by the economic fallout from the Covid-19 pandemic, the head of the business group that represents the main mortgage lenders has warned.

However, Brian Hayes, who heads up Banking and Payments Federation Ireland, pledged that mortgage banks would nonetheless be "pragmatic".