Hey guys,
I can shed some light on the matter after being in touch with OAT regarding financial side of things.
Firstly it must be said that each individuals circumstances are different therefore the loan entitlement etc will be different from one person to the next.
However i understand that most people will have to
- Have a deposit equal to 10% of what they want to borrow.
- They will also need to secure 50% of the loan amount. This is usually done through a house of other valuable assets. Majority of younger peeps get their parents to sign the contract for this bit.
Like i said though the above depends on circumstances but i'm not sure HSBC borrow the whole amount unless you can secure it whole with a mortgage etc. I'm off to OAT this weekend so will ask more then.
Hope this helps shed light on the matter,
Ian