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Old 3rd Dec 2006, 15:43
  #204 (permalink)  
Crispywings
 
Join Date: Feb 2006
Location: London
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Funding the training!!!!

I had exactly the same trouble with HSBC.
Last year I was told they had stopped the professional studies loan for pilot training, but would grant it to students studying through Oxford Aviation. I heard a rumour this was due to people borrowing large amounts of unsecured cash to do an ATPL and then not finishing the course or not finding a job at the end of the course and not being able to repay the loan.

I was studying at BCFT in Bournemouth and was denied such a loan form HSBC.

I continued with my training, got my blue book, an MCC certificate, a letter from an airline saying I had passed the selection assessment / sim ride and would have a job on completion of the type rating that I needed to fund.

Even offering to put my house up as collateral for the loan and with a job offer, I was still declined. Unfortunately HSBC provided no help whatsoever for me.

Obviously, there are other lenders out there; it was just that HSBC had a lower rate of lending at the time.
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