Mr. Ciarán Coyle:

There are supports in addition to the leading fixed rate. We help make contributions to people's legal fees, because these are practical costs that customers face. We also help make contributions towards life assurance, which is also important to customers, and we make contributions towards their home insurance. We see it as a combination of the low rate plus other elements we know matter to our customers.

With regard to the dynamic, it is very dependent on customers' circumstances. The research we are doing backs up the fact that we are a fixed-rate-led mortgage provider. That is our strategy and it has been for a period. It is because feedback indicates that value for money and rates are still the most important things to people. The certainty of a rate over a period and the transparency it brings are important. Home buying occurs at a busy time in people’s lives. Therefore, the best approach is being very clear on the rate and the duration of payments. It also involves giving people the best choices over two years, four years and seven years. We have rates across that whole period. So far, we can see the momentum this approach is creating in business.