Mr. Cormac Ryan:

I just wanted to give three or four numbers to illustrate and provide some context. I am very aware that some Glenbeigh customers will be listening to this or reading it and I want to ensure the numbers I provide are taken in context. As such, of 730,000 mortgages in Ireland, 1,500 homes were repossessed. Obviously, we would all prefer if that were a smaller number. The orders for possession Pepper took in 2017 were 51 and the actual orders for repossession that were executed was 18 out of a total number in Ireland of approximately 1,500. Every one of those is a last resort. One of the reasons we keep that number as low as possible is that we work extremely hard on mortgage to rent. We are advocates of mortgage to rent, which is an extremely important solution to keep people in their homes. It has some requirements and not everyone can qualify for it. The last number I give relates to those cases where we have exhausted all possibilities. Typically, these cases take five years. We have five years working with these customers to find alternative solutions. Of those cases, approximately 75% have been classified as "non-engaging" at some point in time. We will work all the way up to the steps of the courthouse for the very small number of cases that go to court. At least half the cases that get to that point, however, involve customers who are not engaging.