Renters are likely to be hit harder than homeowners from an economic downturn during the coronavirus crisis, a think tank has warned.

The Resolution Foundation said homeowners were “relatively well protected” compared to previous slumps.

But renters were more likely to work in affected industries and spend more of their income on housing, it added.

The government said it was taking “unprecedented action” to protect people during the virus outbreak.

For homeowners, the government has agreed with lenders that those facing financial difficulties can apply to defer mortgage payments for up to three months.

Ministers have also announced a complete ban on eviction of private and social renters for three months in England and Wales.

People facing eviction threats ‘should stay put’ You can’t just stop paying

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