Ms Francesca McDonagh:

We will have one of those houses, which we will make available to the customer if they want the house. I do not underestimate the impact that this has had on people who have lost their home, whether it was their primary residence or a buy-to-let. The average compensation that Deputy Conway-Walsh is looking at will not necessarily include those more complex cases that we are working on now. The average will be reduced by the 0.15% small margin issue where the average redress was relatively small.

The average does not represent the focus we are putting into working out those more complex cases where there has been loss of ownership. In one of those cases, the compensation would have been €250,000 as a minimum for a loss of ownership. Compensation will be starting at €50,000. We will be looking at those case by case to make sure we are doing the right thing. I do not underestimate the impact of the loss of ownership from the tracker issue.