Sunday 25 February 2018

Bank of Ireland pulls 'ludicrous' Twitter ad after furious backlash

Orla in Bank of Ireland ad
Orla in Bank of Ireland ad
Bank of Ireland's tweet
Independent.ie Newsdesk

Independent.ie Newsdesk

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."

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