Mr. John O'Beirne:

We have a good value, fixed-rate offering over an extended time period. The Ulster Bank offering, at 2.8%, is a good offer but it is only available for two years. We talk to customers and research what they want and they have told us they have two major concerns when applying for a mortgage. One is whether they can get a mortgage, and we approve nearly nine out of ten applications. The other is whether they are going to have a monthly repayment amount that is manageable within their budget. Given the competitive dynamics in the market, last year we moved to simplify our fixed-rate structure so that customers could have the option of fixing for a period that suited them. We will continue to keep all those different items under ongoing review.