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15/03/2009, 12:39 AM Morbz Joined on 06/02/2007 UK Posts 263 Re: Bank loans Ouch    Report

15/03/2009, 12:39 AM Morbz Joined on 06/02/2007 UK Posts 263 Re: Bank loans  Justin wrote: if you are looking for bank loans to fund your aveation career dont look at this option look at ctc wings and piolet sponsership this way you dont have to pay anything and you can go on to work with net jets europe  easy jet british airways ete k. hsbc were offering bank loans but this has stoped now k.   You dont have to pay anything?!  Are you out of your mind?  Im on the course and as well as the initial £60'000 bond you have to find (mine was secured on my parents house which I cannot thank them enough for) you have to pay £6300 for the "foundation course" which just involves getting your NZ PPL and extra hours, and on top of that you have to pay for your own fuel usage of the vehicles, your food and entertainment for the year which is another £4500 roughly.  Therefore you are paying about £70'000 at least for the course, nothing is free or sponsored as many people think.  The only thing that is good though is that if you are a wings cadet you get your type rating paid for and line training for 6 months with a partner airline- providing they are recruiting which in effect makes it very good value for money in the sense you are almost guarenteed employment/experience flying jets and that you dont have to pay £20k for your own type rating.  Yes the airline will give you 'cadet' pay but still its very good. As for bank loans in general, right now you have no hope, the only half viable solution is a mortgage but then you need a 2 year moratorium where you pay nothing whilst you are training.  Now unless you have some kind sole to pay the mortgage off for you in the 2 years training then you will need to take out a loan bigger than you need and use the extra amount to offset the payments.  There are also flexi mortgages available where you can pay nothing for one year and then as much as you want in the next so long as its all paid by the final date. If anyone wants any information on CTC or how I got the financing or anything to do with learning to fly, I might be quite a valuable source seeing as I am a fresh training Commercial Pilot with CTC and I've just had to go through the stress and strain of selection and sourcing finance! Morbz      Report

23/05/2009, 3:02 PM Kerofai Joined on 14/05/2009 Posts 2 Re: Bank loans Some sponsorship and bank loans available... http://www.pilot-career.co.uk/sponsorship.html    Report

09/07/2009, 8:51 PM Russ Joined on 09/07/2009 Posts 1 Re: Bank loans Hello! May be do not pay 60K GBP for ATPL, But only 15K GBP for license? Go to Latvia and pay in 4 time less. Try some.. for example -www.avioservice.eu    Report

13/08/2009, 4:41 AM zash Joined on 13/08/2009 Posts 1 Re: Bank loans actually i already got a letter of acceptance to join the omni aviation.so now the problem is how can i apply for loan?please somebody help me...i really need the loan...    Report

23/08/2009, 10:12 AM Anthony Tester Joined on 24/09/2007 Vienna Posts 106 Re: Bank loans Justin, strange you should have dredged this post up from the depths of pilot web. If you read into the CTC wings scheme you'll discover that your bonded for the cost of the course, i.e. you have to pay back the cost of your training when your placed with an airline normally by means of being placed on a "cadet" salary. As far as I'm aware there is also no direct link between BA or Netjets and CTC and both of these operators are presently cutting staff.    Report

31/08/2009, 11:00 PM Morbz Joined on 06/02/2007 UK Posts 263 Re: Bank loans Just for your info Im fairly sure Netjets and BA are partners of CTC, and yes operators have cut cadets during line training but as far as I am aware now CTC have managed to place them with other airlines :o)    Report

18/05/2011, 2:44 AM nasubzna Joined on 18/05/2011 Posts 5 Re: RE: Bank loans When I get my degree, my plans are to get a job and aventually pay for my ppl (I understand this is around 5 grand?). Then if I want to progress, it will be a smaller loan I would have to take from the bank if I apply for ctc mcalpine. Access 2010 microsoft office 2010 beta    Report

09/06/2011, 7:19 AM hawkins52@btinternet.com Joined on 06/08/2006 Posts 120 Re: RE: Bank loans £5000 is not a realistic expectation for obtaining your PPL.  You should estimate paying between £7,000 and £8,000    Report

28/08/2011, 7:12 PM IanG Joined on 06/02/2007 manchester UK Posts 28 Re: RE: Bank loans  Edward Hawkins wrote: £5000 is not a realistic expectation for obtaining your PPL.  You should estimate paying between £7,000 and £8,000 Yes I agree, when I was first looking into flight training after leaving school 20 years ago 5k was realistic, but I left it for many years before deciding to go commercial and paid the price ! d'oh Apart from the cost of living increasing it's been the massive increase in fuel, one could hope that if more GA aircraft are running on JetA1 then the prices might come down but I think it might just be the profits that go up ! My avgas prices are around £1.98 to £2.20 vs JetA1 I can get for 88p ! My company is about to knock £700 of the price of a PPL package and it does just take it below 7K now, something thats been rather rare for some time now. I'd for sure say a loan and do it in a shorter time span is a good idea, when I get students that are not flying at least once a week there is always a catch up process at the beginning of each lesson and that = £'s Ian - www.TargetAviation.co.uk    Report

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