Originally Posted by
rudestuff
Firget price. The No 1 advantage of flying in the US is time efficiency, due to weather. You will lose so many training days in the UK due to weather. When the plane is yours the weather won't be good enough, and when it is everyone else wants to use the aircraft. The US is perfect for training quickly and hour building efficiently. When you are training you are learning a motor skill and the more frequently you train the more you will retain and the cheaper it will become.
Understood. I've had a second thought about what you said re having good credit (I think I'll probably be having a lot of second thoughts in the near future) and you are probably completely right about that. My bank (bank of scotland) apparently offers personal unsecured loans of up to £25k with admittedly a pretty **** interest rate at the moment (5.9%) but not that it will matter in the end. I would assume that there is absolutely no way they would lend that amount of money to a person with 0 credit history so building credit score sounds like a good idea. My main concerns regarding this are:
- What do I tell the bank the money is for? Debt consolidation?
- I have read online that even if you repay your loans you are considered to have lower credit if you take out more than a couple of loans over a short space of time so I can't see this whole borrow-repay-borrow-repay schtick being good for credit in the long run.
- My bank doesn't lend to those in full time education (i.e. university) so realistically I can't even start building credit until 20.
- Do the credit rating companies care how long it takes to repay the loan? What if I take out a loan and repay it in full the next day?
- I assume I could literally just pop the money into a current/instant access isa account (preferably with a different bank), top it up with the interest, and just leave it to pay off for however long it takes?
I will definitely have to reconsider how I approach funding though, in the event that I can secure 25k of bank money without any collateral (which to be fair doesn't seem impossible) I will still have to save/invest/beg my family/busk on the streets to get the other half. I will ponder some more and rethink my plan. Thanks rudestuff, great advice on this forum as usual, have a good one
