Mr. Ciarán Coyle:

Yes. The Deputy is right about the two-year fixed rate. We also have the lowest four-year fixed rate in the marketplace. To build on Ms Howard's point, we have seen good momentum in the business. I will help the committee to understand what we have done. For nearly a year, we have had an extensive marketing campaign across media - outdoors, radio, cinema, etc. Judging by our marketing team and market analysis, this has had the exact level of impact that we wanted. In recent months, we invested in and launched a new online portal to make it easier than ever for customers to switch to the new rate. If an existing customer is on a variable or fixed rate, he or she can go online from the comfort of home and change to any of our new rates in a matter of minutes, 24 hours per day, when it would previously have taken a couple of weeks.

Regarding performance, when we last appeared before the committee, we mentioned that our natural stock in this market was approximately 14%. We were slightly behind that figure then. At the end of the first quarter of this year, though, we had a drawdown market share of over 16% and our approvals were slightly higher than that. To build on Ms Howard's point, we are hearing from our customers that they like the clarity and certainty regarding what they pay. Effectively, rates remain important to our customers. We are making other changes beyond the rates to make the process of coming to us easier and faster. It is a work in progress, but it is having an impact as well.