Professor Philip Lane:

It is important to restate this for the person who has not been engaging with the bank - the evidence shows that where there is meaningful engagement with the banks a lot of restructures are agreed and these agreements turn out to be sustainable. There is a reserve option, if there is no engagement or there is no way to deliver a sustainable agreement, where some of these cases will end up in repossession. The courts system is seeing different outcomes with some going back for re-negotiation and a certain amount of orders for repossession of the house. As time moves along there will be some variation between the ultimate conclusions of those cases.