Mr. Lewis Purser:

Yes. It is a safety valve but it is also a plan B for many students. As Mr. Hannigan and others have mentioned, if a student gets an offer early, which the UK system allows for, then the student already has one foot in the door. He or she then gets an offer. The next day, the offer of accommodation comes in and the student sees that it is reasonably priced.

What is not to like? That is very compelling.