Mr. John McCarthy:

There are two things. One is that we still have to see some of the benefit of the new arrangements that were introduced post February 2017. Ms Murray mentioned that it is operating on a transaction by transaction basis. There are some private finance entities which have expressed an interest in coming into this at scale where the property would remain in private ownership - by private I mean the finance house - and be leased back to the local authority. There is a market testing and expressions of interest exercise taking place at the moment on that. If it yields an outcome, that could see a real step up in scale as one would then be dealing with a small number of finance houses that would take on a chunk of potentially eligible mortgage-to-rent properties.