It is safe to say mortgage lending markets have been challenging in recent weeks in light of the Covid–19 pandemic. That said, when you look below the surface for many (although not all) private banks and niche lenders it has been “business as usual” at least to a certain degree.

So, which areas of the international property finance sector have been hit hardest?

International and regional property finance

The first casualties as the seriousness of the Covid–19 pandemic was confirmed were retail banks. Many withdrew from the mortgage market immediately, concerned about the addi...