Ms Gráinne McEvoy:

Yes. Under the provisions of the Central Bank's codes any lender, whether it is a bank or not, that intends to sell the loan must notify the borrower two months in advance. The lender must provide the borrower with the name and address of the buyer of the loan. If it is going to be serviced by a different party, the lender must provide the contact details for that party as well. If a borrower is on an arrangement and is meeting its terms, we have very strong expectations for the arrangement to remain in place when the loan is sold. If the borrower's position changes and he or she is not able to meet the terms of the arrangement, the situation is assessed in line with the CCMA and the borrower's circumstances are taken into account. Some repayment model that best suits the changing needs or changing financial position of the borrower is then introduced .