Mr. Brendan Burgess:

On the difference between Cork and Dublin, one of the issues with mortgage indemnity insurance is that the insurance companies will probably not provide it in areas where they consider the price is too high. I gather they are not providing it in London at the moment because the prices are too high. They probably look at Cork and decide to give mortgage indemnity insurance in Cork because they decide the chances of a claim are much lower. They tailor their product on a regional basis.

I was not fully sure what point the Deputy was making. Is he saying that if the Central Bank immediately introduced an 80% maximum loan that the average family unit in Cork - a couple in their late 20s or early 30s - would, with prudent saving, save up to 20% of a deposit-----