Mr. Liam McLoughlin:

We see the introduction by the Central Bank of the central credit register as a positive development. As the Senator said, it came on stream in June. It has got to be used in earnest from September of next year. It gives a more holistic picture of a person's credit profile which was absent previously but is actually very common in other markets and jurisdictions. In terms of the customer's affordability and ability to repay, we would see as being positive the more holistic picture that the central credit register, CCR, will deliver.

In terms of mortgages, it would be inappropriate to give advice. However, in terms of secured debt where there is equity in a house as well, it is often better for a person who is on unsecured debt that it is more expense to put some of that into the mortgage. It is a matter of what advice he or she is taking and how well the person is applying the cost of various forms or secured and unsecured lending.