Mr. Tom O'Reilly:

To revert to the Deputy's original question about how we think this will progress, at present the process is that because the banks have been put under target pressure, they have ramped up their activity with regard to coming to resolutions and deciding whether people are in a sustainable position. The process is that a client or a homeowner will be issued with a letter stating whether the position is sustainable and the homeowner will then appeal that letter. If such homeowners are found to be in an unsustainable position, they will not then be told that they will be repossessed but will be issued with a letter stating they can voluntarily surrender their homes or can voluntarily sell their homes. Such people will be given six months to 12 months to sell the house in question. Our statistics show that 33% of those who have been made offers have been offered the option of voluntary sale. These voluntary sales will not happen for another six to 12 months and if a house does not sell, the follow-on then will be repossession. Consequently, this probably is unlikely to show itself for another six to 12 months.