Dr. Mark Cassidy:

We do not believe so. It would be a bad idea. It would add to demand without any impact on supply and therefore add to prices. More fundamentally, it would increase the risk for borrowers and banks. There would be a greater probability of default in that situation and, in the event of a loss of income or a decline in the house price, the borrower would immediately be in negative equity and a much more difficult position, and likely to get into financial distress. We believe a deposit of a minimum of 10% remains necessary for borrowers, be they first-time borrowers or existing borrowers.