Mr. Barry O'Leary:

None whatever. We are the primary lender and we make assessments on that basis. The Housing Agency provides a secondary loan, which is essentially the equity part of the CREL process. We make our own decisions. There may be times in future where we say "No" and there may be times when we say "Yes" and Mr. Jordan's agency says "No". We are quite straightforward. We have the credit committee that makes assessments and we are very supportive of approved housing bodies. The initial hurdle is getting the status of certified body from us but we have approved 19 housing bodies. Once they are in that position, they have a very good chance of getting approval. We do not routinely turn down loans. We have approved 100% of the applications we have got in the past five years.