Bank of Ireland pulls 'ludicrous' Twitter ad after furious backlash
Bank of Ireland has come under fire for promoting questionable financial advice online.
The tweet, which has since been removed, read: "Orla and her boyfriend stopped renting and moved back with their parents to save the deposit for the 1st home."
The tweet linked readers to a blog post on the company's website.
The blog post detailed how Orla and her boyfriend moved back home with their parents in order to save for a mortgage on a house.
A note at the bottom of the article confirmed that the couple eventually bought and moved into a house in Swords, County Dublin.
The post and accompanying tweet were not well received online.
Bank of Ireland's financial advice comes at a time when rental costs have hit a new high, for the fifth quarter in a row.
According to a recent report from Daft, rents have risen nationwide by almost 12 percent in the year to June 2017, while the supply of accommodation is at an all-time low.
The average monthly rent is now €1,159. This is up to €122 a month since last year.
Furious Twitter users slammed the bank for trivialising the rent crisis.
RTE's Louise McSharry wrote, "Ludicrous to see banks promoting this as a strategy," while the Irish Independent's Colette Browne said, "Tough luck millenials, the only way to get a mortgage with @bankofireland is to move back in with your parents."
Banks are doing this because they can. A unimaginative govt that relies solely on market principles enables them. We need to change this.— Glenn Fitzpatrick (@glennthefitz) August 23, 2017
It feeds into this blame for not being able to afford houses. Pull up your socks, move in with your parents, stop buying avacados.— Conor (@conorjgraham) August 23, 2017
Aye, sure I'll go back into the mothers womb while I'm at it, save myself some money on food too.— Woolberto Silva IV (@WoollyRyan) August 23, 2017
how is this sound financial advice. how many people work jobs in commuting distance of their parents house. how many dont have parents.— flesh pile (@FleshPile) August 23, 2017
.Jesus I'm fuming over that ad! That someone would think that's ok in the midst of a housing emergency. People living with enough guilt.— Anne-Marie McNally (@amomcnally) August 23, 2017
between this and the AIB ad promoting mortgages for a tree house....what a republic we have developed into eh?— Joan Byrne (@jemb123) August 23, 2017
The #ad puzzles me.— Michael O'Toole (@mickthehack) August 23, 2017
Ludicrous to see banks promoting this as a strategy. We are all fucked. https://t.co/54BKrXejpW— Louise McSharry (@louisemcsharry) August 23, 2017