Mr. Cormac Ryan:

That process is currently being managed by Permanent TSB. The bank is currently going through the reviews, some on a tri-annual basis and some more often. When the portfolio moves across to Pepper, that job will fall to us. Every circumstance will be different. In terms of what happens at the end, that will be part of the review. Each time we do a review, we will determine if anything has changed.

Let us take the example of someone whose mortgage is due in 20 years. As we said at the beginning and a number of times today, it is in most people's best interest to have a plan for what happens at the end. When one is looking at restructuring arrangements, time is a critical factor. It is not the same for all customers but, thankfully for the majority, there is time. We would look to engage with them in the first review and see if there is any additional affordability. We can look at all of the various alternative restructuring arrangements in terms of recapitalisation, term extensions and so on and all of those options are available. The main piece, however, is whether there is an ability to pay more, whether the affordability has changed or the customer's circumstances have changed. The easiest way for customers to address it, if it is affordable, sustainable and in their best interests, is to pay more off each month. That is the most basic arrangement and that can happen if the circumstances change. If they do not change, then that is off the table and we continue on as we are and look at it again the next year or in two years. That is effectively how we will approach it. Every case will be different and it is difficult to give a broad answer, well into the future, as to what will happen at the end.