Ciarán Lynch (Cork South Central, Labour)
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The Senator is finished. I want to conclude. We are unravelling a difficulty that has been created over the years but there is new mortgage lending and despite the difficulties of the present period, members of the public will continue to be home buyers. That is going to remain a fact and that is going to be the option of choice for most people who can afford it.

I wish to speak to the representatives about new lending. If the information I request is not to hand, it can be forwarded to the committee later. Prudential guidelines or directions were given to the banks in July 2009 by the Central Bank. The aim was that banks would move away from 35 to 40-year mortgages, that 100% mortgages would go by the way side and that lending ratios would revert to a more normal level, with LTVs put in place. What is the new mortgage book at Ulster Bank like? Is there demand in terms of applications? What percentage of those applications is the bank approving?