I am not sure if I am misunderstanding some of the posts here, however I do see a trend that everybody is looking for UK jobs.
First of all, RyR have been semi-ageist for long time, they do take in the occasional old-time, to make their stats look ok, but that's it.
They are desperate for guys to come now, so they even don't make you pay your TR, if you come in with experience.
However FTO's like CTC and Oxford, have their hands deep in with many airlines, and their guys will be getting priority. And regarding that, more and more airlines are considering doing their own training, so they get the guys they want. Which will make it harder for self-improver route, which me and many others did.
At the moment the market is quite good, but not if you only have 300 - 400 hours, it has never been good for this, but it's not impossible.
There are people considering leaving RyR, Jet 2 etc, but there is also the fear of job uncertainty, Virgin is a great company, but they do have a history of suddenly laying people of. So people think twice before they do this.
Also when you go fly Boeing with RyR, to go to other better companies, they will still make you pay your own TR if converting to Airbus etc. So there are many considerations people make before they leave a safe and secure job, even if they are unhappy with their company regarding some of their TC's
Now what I am lacking / missing in many of these posts, where are guys saying they would apply for companies such as Small Planet, Wizz, Air Baltic etc just to mention a few. There are jobs out there, but if you limit yourself to the UK for your first job, unless you have very good connections, I would say simply forget it.
There hundreds, if not thousands of experienced guys working abroad in Europe, ME, Asia, who are desperate to come back to UK as soon as jobs are available. These are FO's with 1000 - 2000 hours or more on Boeing or Airbus or other large jets.
I admit I am not 100% in touch with the recruitment requirements in these foreign companies at the moment, as I am not looking for a new job, but these are the places you have to go if you want to get that first job. Enjoy the pain for 1 - 2 years, get the experience and than try to come back to the UK.
Of course there are companies like Logan Air, Eastern etc., but if you want to do this, the minimum would at least be that you working as an instructor and than maybe you will get a chance when you have around 1000 hours or more on SEP.
I am talking out of personal experience, where there is a will there is a way. If you already invested all the money for your ratings etc., you can't limit yourself to UK borders only, as I would say you have cut off at least 98% of your potential market.
Of all the modular guys I know, I know of none who have got their first job for a UK company when they was late 30's / early 40's.
The young ones did get RYR, and now they are paying £30.000 for a TR to get out of RYR, that should tell you all what you would want to know about RYR.