Mr. Bernard Byrne:

I am not commenting on all the components the Chairman referred to but it is about what is one's maintainable income.

To be clear, as there is some confusion in this regard, it does not mean one has a contract stating one is employed for the next ten years and that is what one will earn. It pertains to one's demonstrated pattern of earnings. Consequently, contract people also can be included within that, once they have a demonstrated pattern of earnings. As for what that allows one to afford in terms of one's monthly repayment, under Central Bank guidelines we must stress it by 2% and the other thing is the loan-to-value side. At present, we have an offering for first-time buyers of up to 92%, and that tiers down across various cohorts below that. That is at the peak of where it will be and certainly, as the market starts to recover, one would expect some of that to reduce.