Mr. Michael Layde:

I would need specific examples. Already in place under the legislation on local authority loans and the mortgage resolution process that has been rolled out is considerable flexibility for local authorities to deal sensitively with individual households in difficulty. Our information is that they do. That, in part, is reflected by a very low level of repossession in respect of local authority mortgages in distress. This further iteration will ensure there is parity of treatment, regardless of whether one is a commercial mortgage holder or a local authority mortgage holder. We will be rolling out that but then it becomes a matter of the lender dealing with the customer in each case. There are a number of options. This involves agreeing with the customer, if possible, a solution that works for the household in question. Elements of the solution can include for example, warehousing a portion of the loan on a spectrum to mortgage to rent, which is the circumstance where somebody ceases to have ownership of the property but can continue to remain in it. There is a range of solutions, depending on the individual circumstances.