Mr. Noel Brett:

I thank the committee for the invitation to appear before it. It is hugely important for the sector to state it wants to participate. We keenly await the committee's recommendations and look forward to engaging with it again at that stage. I reiterate that the key for customers in distress is getting independent advice and engaging. They should not ignore the problem, as it does not go away. If there are recommendations from the committee across the four sectors - we are not here to speak about mortgages only but also about social and affordable housing, the rented sector and the owner sector - we want to engage actively and be constructive on matters within the competence and remit of the banking sector. Clearly, whatever interventions are made need to be co-ordinated and stress-tested for unintended consequences. Many people will bring forward recommendations of all types. They all look good, but they need to be looked at in the round and stress-tested for unintended consequences. We must ensure we do not drive up house prices and the level of indebtedness as that would not serve the economy or families. We want to participate actively. I urge the committee to ensure whatever recommendations are brought forward are stress-tested and that somebody is in charge.