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Media: Bank of Ireland pull ludicrous twitter add after furious backlash

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    #2
    Kermit.de.frog
    Registered Users Posts: 23,716 ✭✭✭✭Kermit.de.frog


    But Bank of Ireland are right not to lend particularly to most younger people for rent or mortgages. It will damage their balance sheet.

    Have we not learned lessons since our humiliating and costly crash?

    Now people want banks to throw money to people who can't afford it again??


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    #3
    Wabbit Ears
    Registered Users Posts: 3,043 ✭✭✭Wabbit Ears


    yea, a load of SJW indignation.
    I dont see how 'dont pay silly rents, save for a mortgage' is all that bad advice. jaysus people, lighten up.

    Tweets like this are just twattery: oh noes, but what of those cases where the parents DIED!!!! OMFG, you MONSTERS!!!one!eleventy!!

    anyway, I really dont get twitter, its just a platform to be as mean as possible in 144 words or less.


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    #4
    Colonel Claptrap
    Registered Users Posts: 945 ✭✭✭Colonel Claptrap


    I see very little wrong with the ad.

    It's not like they are encouraging irresponsible lending. Quite the opposite I think. A mortgage is not for everybody. Some people buy property with scant regard for their future financial health. I applaud couples who make extra sacrifices when saving for a deposit. It's important to take a good hard look at your ingoings and outgoings to see what can you really afford, and what unnecessary spending can be cut.

    We didn't move in with my folks when saving, even though they offered. But we did stop eating out, going to the pub, and sold our second car.

    The ad is simply telling a story. I hear this same story every time I speak with couples saving for a deposit - 'we are cutting excessive outgoings'.

    Storm in a teacup.


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    #5
    troyzer
    Registered Users Posts: 6,200 ✭✭✭troyzer


    Colonel Claptrap wrote: »
    I see very little wrong with the ad.

    It's not like they are encouraging irresponsible lending. Quite the opposite I think. A mortgage is not for everybody. Some people buy property with scant regard for their future financial health. I applaud couples who make extra sacrifices when saving for a deposit. It's important to take a good hard look at your ingoings and outgoings to see what can you really afford, and what unnecessary spending can be cut.

    We didn't move in with my folks when saving, even though they offered. But we did stop eating out, going to the pub, and sold our second car.

    The ad is simply telling a story. I hear this same story every time I speak with couples saving for a deposit - 'we are cutting excessive outgoings'.

    Storm in a teacup.
    Are there really that many scenarios where you'd be worse off paying a mortgage than paying rent if something were to happen that adversely affects your finances? I can't think of any.


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    #6
    Teyla Emmagan
    Registered Users Posts: 5,641 ✭✭✭Teyla Emmagan


    Ad seems fine to me. It might reflect on our society in a way people don't like, but there you go. The fact is that there aren't enough places to rent, so rent is really expensive. Dose of reality.


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    #7
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,218 Mod ✭✭✭✭godtabh


    again 'people' looking to be offended


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    #8
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    godtabh wrote: »
    again 'people' looking to be offended

    Certainly- but there was a bit of inevitability that it would be viewed in this manner.........

    Orla, the girl in the add, apparently is back on her own two feet- and living in a property she bought in Swords- so it worked out for her, in the long run.

    What the hell is the story with Avocados in the Indo article and comments?
    Avocados? Bleurghhh!


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    #9
    ThunbergsAreGo
    Registered Users Posts: 10,399 ✭✭✭✭ThunbergsAreGo


    godtabh wrote: »
    again 'people' looking to be offended

    Pathetic backlash, it's a story about a person and what she did (I did the same)

    The injustice of it all.....


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    #10
    Villa05
    Registered Users Posts: 4,618 ✭✭✭Villa05


    Maybe our youth are starting to join the dots and see who is responsible for the housing crisis.

    It IS Gov policy to to put in place measures that drive up house prices and rents to improve Bank balance sheets

    This ad is the bank telling people suffering from that policy to suck it up go back to your parents to save more money to give to us.

    Loved the tweet from the person saying should I go back into my mother's womb to save on food also

    It underlines the parasitical nature of the banks and the Irish property market that so many here appear blind to


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    #11
    RoisinClare6
    Closed Accounts Posts: 249 ✭✭RoisinClare6


    This is a non issue.

    Do the 'offended' want absolutely everybody to be able to rent and save for a mortgage? Even if there wwasn't problems with the rental market some people would in fact need a bit of help and there is nothing wrong with that. I've only lived away from home just over 2 years but heck I wouldn't mind going back to mammy and daddy if needs be. Miss those dinners.

    I have been renting my house for two years since it was built and my lease was 2 years and 9 months and the land lord offered the same lease when it that's up. It's a 2 bedroom house with a yard. Close to the train/bus that would be an ok commute to dublin/waterford. It's €600 a month

    I'm extremely lucky that I can rent and there has to be more people like me out there. Not every house/apartment costs over a grand a month in every county in the country. Is it that because so many people live in dublin that we hear so much about it or what?

    Lads, Orla got her mortgage be happy. Not everybody's situation is doom and gloom so try not treat it as such.


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    #12
    Eggonyerface
    Registered Users Posts: 669 ✭✭✭Eggonyerface


    Pretty much everyone I know did this, I don't see what the problem is


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    #13
    alchemist33
    Registered Users Posts: 10,969 ✭✭✭✭alchemist33


    One of the commenters mentioned millennials. I don't know how thats defined exactly but it always seems to crop up when someone's offended.


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    #14
    Michael D Not Higgins
    Registered Users Posts: 7,223 ✭✭✭Michael D Not Higgins


    The_Conductor wrote: »
    Certainly- but there was a bit of inevitability that it would be viewed in this manner.........

    Orla, the girl in the add, apparently is back on her own two feet- and living in a property she bought in Swords- so it worked out for her, in the long run.

    What the hell is the story with Avocados in the Indo article and comments?
    Avocados? Bleurghhh!

    There was a story a while back about a young property mogul who said young people would be able to buy a home if they stopped eating avocado on toast.


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    #15
    Teyla Emmagan
    Registered Users Posts: 5,641 ✭✭✭Teyla Emmagan


    Villa05 wrote:
    It underlines the parasitical nature of the banks and the Irish property market that so many here appear blind to

    It's not the bank's fault that there aren't enough houses out there. And the nature of a mortgage is a financial agreement, not a parasite living off a host. You agree to borrow money and to pay it back at a certain rate. In return for this you get a home. Alright, sometimes the rates are bad but that's often outside the control of the bank's. But the point is no one forces you to make this arrangement.

    We definitely need more houses built though, no one in the entire country questions that.


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    #16
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    Michael D Not Higgins wrote: »
    There was a story a while back about a young property mogul who said young people would be able to buy a home if they stopped eating avocado on toast.

    Avocado on toast?
    Obviously, I've missed something- though somehow, I suspect its not something that really matters...... Kinda like the add they pulled, actually........


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    #17
    CruelCoin
    Registered Users Posts: 4,468 ✭✭✭CruelCoin


    The_Conductor wrote: »
    It probably sounded like a good idea to someone in marketing to run with this- they probably should have bounced the idea off a few of their colleagues beforehand- its no great wonder that so many people feel aggrieved by the advertisement..........

    What's your own opinion?

    Quite strong obviously given the thread title.

    Personally i don't see an issue with an ad that promotes fiscal responsibility. "Do what you need to do to get ahead in life". A decent mantra for anyone to live by.

    Just listening to the newstalk breakfaast show, and that mortgage broker lad was dead right. It's a storm in a teacup and twitter is a bit of a ****show when it comes to objective reasoning. SJW everywhere you look.


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    #18
    Michael D Not Higgins
    Registered Users Posts: 7,223 ✭✭✭Michael D Not Higgins


    The_Conductor wrote: »
    Avocado on toast?
    Obviously, I've missed something- though somehow, I suspect its not something that really matters...... Kinda like the add they pulled, actually........

    It's equivocating BoI being as out of touch with the average person's difficulties in the modern property market as that multi millionaire was.


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    #19
    Michael D Not Higgins
    Registered Users Posts: 7,223 ✭✭✭Michael D Not Higgins


    CruelCoin wrote: »
    What's your own opinion?

    Quite strong obviously given the thread title.

    The title is the same as the Independent's article headline.


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    #20
    kurtainsider
    Registered Users Posts: 324 ✭✭kurtainsider


    The message is very simple. If you want to buy a house to live in you'll need to save for a deposit. One of the very best ways to do this is - if circumstances allow - move back to your parent/s house and deposit the rent money in a savings account at the bank which will provide you with a deposit at some point.

    What's offensive in that? Very few young people earn enough to rent and save.


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    #21
    dennyk
    Registered Users Posts: 1,702 ✭✭✭dennyk


    The_Conductor wrote: »
    What the hell is the story with Avocados in the Indo article and comments?
    Avocados? Bleurghhh!

    Some rich Aussie real estate dude being interviewed on 60 Minutes a few months ago was going on about how he could afford to buy his first home because he wasn't spending money on avocados like all these whiny millennials. He of course didn't mention that he first got into the property gig when his boss purchased a flat and let him renovate it in exchange for the profit when it sold, then his grandpa gave him a loan to fund the deposit on his next property. Now "avocados" has become a meme about how out-of-touch the wealthy are about the financial reality for most young people these days who don't have strangely generous bosses or wealthy family members to front the money for them to get into lucrative businesses themselves.


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    #22
    Michael D Not Higgins
    Registered Users Posts: 7,223 ✭✭✭Michael D Not Higgins


    kurtainsider wrote: »
    Very few young people earn enough to rent and save.

    And that's the issue. It's a poor reflection of modern society and many still blame the banks for all our current woes.


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    #23
    Michael D Not Higgins
    Registered Users Posts: 7,223 ✭✭✭Michael D Not Higgins


    dennyk wrote: »
    Now "avocados" has become a meme about how out-of-touch the wealthy are about the financial reality for most young people these days who don't have strangely generous bosses or wealthy family members to front the money for them to get into lucrative businesses themselves.

    Like Trump's "small" loan of a million dollars.


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    #24
    f@steddie
    Closed Accounts Posts: 68 ✭✭f@steddie


    Villa05 wrote: »

    It underlines the parasitical nature of the banks and the Irish property market that so many here appear blind to

    Parasitical nature of the banks? How exactly should they behave? Like they did before the crash when they gave 100% mortgages to every Tom, Dick and Harry?


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    #25
    bmwguy
    Closed Accounts Posts: 2,006 ✭✭✭bmwguy


    Could everybody please stop getting offended over everything. That would be just great.


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    #26
    Alf Veedersane
    Registered Users Posts: 24,612 ✭✭✭✭Alf Veedersane


    The avocado on toast reference


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    #27
    kurtainsider
    Registered Users Posts: 324 ✭✭kurtainsider


    f@steddie wrote: »
    Parasitical nature of the banks? How exactly should they behave? Like they did before the crash when they gave 100% mortgages to every Tom, Dick and Harry?

    Exactly. I'm no fan of the banks but this is sound advice. The alternative is the 100% mortgage (and how about a few bob for a nice new car while we're at it).

    Their (now sane) advice is: Save first - buy later!!! I'm having difficulty working myself into a state of outrage over it TBH.


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    #28
    ThisRegard
    Closed Accounts Posts: 27,833 ✭✭✭✭ThisRegard


    I don't see anything ludicrous about it at all, people have been doing that long before there were any housing issues.


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    #29
    um7y1h83ge06nx
    Closed Accounts Posts: 5,029 ✭✭✭um7y1h83ge06nx


    Not a big deal as many have said. Saving as big a deposit as you can, not just the minimum is sensible to reduce the size of the mortgage you're looking for.

    Of course the "solution" would be to offer 100% mortgages. What could go wrong with that. (Sarcasm alert btw).

    When the wife and I bought our house 2 years ago we were constantly doing the sums. I was stress testing much harsher than the banks and we were really cutting back to reduce the mortgage we would need as much as possible. Now our LTV is less than 60%, we recently went back to the bank to get a better deal on the rate.


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    #30
    GLaDOS
    Moderators, Regional East Moderators Posts: 23,221 Mod ✭✭✭✭GLaDOS


    Me and my girlfriend are doing exactly this when our lease finishes up. As have tonnes of others. Thats the reality, getting offended by it is bizzare.

    Cake, and grief counseling, will be available at the conclusion of the test



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    #31
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    CruelCoin wrote: »
    What's your own opinion?

    Quite strong obviously given the thread title.

    Personally i don't see an issue with an ad that promotes fiscal responsibility. "Do what you need to do to get ahead in life". A decent mantra for anyone to live by.

    Just listening to the newstalk breakfaast show, and that mortgage broker lad was dead right. It's a storm in a teacup and twitter is a bit of a ****show when it comes to objective reasoning. SJW everywhere you look.

    My own opinion- is that its much ado about nothing.
    Yes- its damn hard to get a deposit together- and yes, I'm sure parents aren't overly enamoured at the thought of adult children moving back home again. That's life though. I do think it was naïve more than anything else- for BOI to use an add to tackle this head-on- it was asking for trouble.

    I'm no fan of BOI (or any other lending institution)- but consider them a necessary evil. Regardless of how they hawk their wares- they will thread on toes. In this instance- they could have easily thread on far fewer toes- and annoyed far fewer people.

    In a few days time- it'll all have been forgotten, and it'll be business as usual again.


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