Ms Francesca McDonagh:

I thank the Deputy for his questions. Our intention in creating those letters - I looked at their format before they went out - is to give as much information and clarity as possible. It is quite a detailed letter. It goes into a level of detail that I think our customers want to understand, on the basis that a mortgage is typically the largest part of people's disposable incomes, their largest asset and something they will have for many years. That clarity was intended to be for the benefit of the customer and not to confuse. We believe the letters are appropriate.

During the process of the remediation since we accepted the 6,000 customers, we have looked at ways to improve documentation and improve the process to make it easier for customers. There is a constant ongoing feedback process to see what can improve. Right now, we feel the letters we are sending and will continue to send between now and 31 March are appropriate. They are accompanied by a call to the customer and also include contact details for a customer to call us for clarity or guidance if needed. The Deputy will also be aware that, based on feedback from customers and other stakeholders, we actually increased the amount of money that was made available for independent financial and legal advice to support customers during this process.

In term of the calculation, we believe it is correct and accurate.