Mr. Jim Baneham:

My previous training was as a quantity surveyor so I would be very nervous about doing that as I know the kind of trouble one can get into from giving bad figures. On the serviced sites fund, €4 million over 50 units is €80,000. If that was €120,000 it would definitely make an impact. It would be at least €100 a month. I will have to come back on that. We might come back with a scenario case, where if it was another amount it would have a bigger impact. The length of the loan did have a big impact. Our initial modelling was 25 years and went out to 40 years. For loans longer than 40 years, modelling has been done.

The NDFA has examined modelling on 50-year terms. One can model a loan for any period but one has to get somebody to give the loan. We had to get something in place with the HFA in that regard. Longer loans reduce the cost and the payback per year or month but one has to get a lender to give one the money. We could give examples of that.

With regard to €1,200 being 42% of income in Dublin, I am guessing that may be an individual's income.