State urged to press again for mortgage relief

The Government has been urged to again press the main banks to reduce mortgage costs for borrowers with claims that little has changed ahead of a deadline for lenders next week.

Not one of the six main banks have reduced their variable interest rate mortgages, Fianna Fáil said yesterday.

Finance Minister Michael Noonan has set a deadline of July 1 for banks to reduce mortgage costs after a recent outcry on sky-high variable rates.