Mr. David Hall:

It could be done in two ways. It could be done in a long tedious way, which is loan by loan whereby mortgage to rent would be replicated with loans and not houses, or we could look at loan portfolios. We have an emergency plan, which means we will bid against vulture funds in the event of family home loans coming up for sale. Ulster Bank has sold 900 family homes and many others have sold buy to let properties. Permanent TSB has a huge issue with non-performing family homes and has flown seven kites regarding selling to vulture funds. We know the ECB is in with the banks at present and that hammer could drop any day. It could be done loan by loan, similar to house by house for mortgage to rent, or as a collective portfolio. If collective portfolios are used some people would lose out because in restructuring those loans some people on the coveted trackers may have to come off them and some on preferable interest rates may have to change. There are risks with it, but it is the way that will help the most people in an emergency.