Mr. Stephen Bell:

More than 14,500 customers who are either up to date or fewer than 90 days past due are already on alternative payment arrangements because they have contacted us or we have contacted them out of fear that they may be experiencing stress that will in due course manifest itself as arrears. We are being proactive in contacting such customers. An outreach programme has been put in place as part of the Central Bank's mortgage arrears strategy, which we think is a good idea in terms of encouraging banks to engage with people who might get into difficulty and not just those who are already in difficulties. It remains the case that the average mortgage size with Ulster Bank, limited to the average interest rate prevailing, produces a monthly payment of less than €700 or, with economic concessions, considerably less than that. If somebody's circumstances mean he or she simply cannot afford to live anywhere unless the housing is provided by the State, it is difficult to see where alternative accommodation could be found for the level of monthly payment we could construct for a mortgage.

We should talk about home loans, but we should also remember that it is about keeping people in their homes. Even the Personal Insolvency Act is very clear that unless the cost of a home is unreasonably burdensome, we should not be looking to move people out of their homes. Therefore, our approach is entirely to work with customers to ensure they can afford the repayment on some basis that makes sense, that allows them to remain in their homes.