Mr. Brian Hayes:

I will be very simple and straightforward. If there is no certification, there is no mortgageability. One is dependent on the other. This is one of the first issues the group in Donegal asked us to clarify, which we did with lenders.

Each regulated entity will take a different view on mortgageability, but we, as an industry body, have produced a definitive statement on certification. If there is not certification, a property will not be mortgageable.