Mr. Daragh McCarthy:

Section 84 of Part 5 of the Housing (Miscellaneous Provisions) Act 2009 articulates an affordability standard. It refers to mortgage payments not consuming more than 35% of the net annual household income and outlines what the notional mortgage payment would look like. Such a payment has a 90% loan-to-value ratio and is based on the average purchase price a first-time buyer would pay in an administrative area. That is the flexibility element to which Mr. Baneham referred. It does not lend itself to strict national income limits.