Mr. Ger Deering:

We would certainly like to see a reasonable approach being taken to it, particularly if the circumstances of a person have not changed during the period. There is no need for the process to be too arduous, but the banks are entitled to consider whether the person's income has changed. For example, if it has improved significantly, there might be a need to look at the agreement again. The scenario outlined by the Deputy is one we see often, in which a person's circumstances have not changed. It is an arduous process to have to go through. Equally, if the banks approach the matter in a humane way and examine a person's circumstances and how they have changed - the codes in place are good in that regard and require the banks to look at all income - our role is to determine whether the banks took into account, for example, additional costs associated with children with special needs or a very difficult commute. We are most anxious that they do not apply a one-size-fits-all approach but look at all of an individual's circumstances. If they are doing this and a person's circumstances have not changed much, the process should be easy enough to look at the next time.