Lenders under fire as mother cries in court

MORTGAGE lenders were criticised for failing to adequately stress-test borrowers by a High Court judge, as a mother-of-two broke down in tears as she fought to retain possession of her Limerick home.

There was a pattern of cases where borrowers had defaulted almost immediately after being granted loans that raised questions about lenders sufficiently assessing borrowers, said Mr Justice Brian McGovern.

A total of 12 home repossessions were granted yesterday out of 65 cases listed for hearing.