Mr. John O'Beirne:

No. What I accept is that, when the mortgages were taken out, the way that the mortgage system was put together meant that, when a fixed rate expired, all options available at that time would be given to the customer, be that customer a member of staff or otherwise. Anyone who rolled in that period would have been offered a tracker. After trackers were withdrawn - this is effectively at the centre of the tracker piece - the product was no longer available and there was no contractual element. Typically, customers would have drawn down on a standard variable rate. Since they never had a tracker, it was difficult to return them to it. Having met the group and spoken to people individually, however, I understand their view and expectation that there was no difference for them in terms of what they felt they would be returned to.