Hi
First post on pprune and it's about money. I wonder if that'll be an on-going theme...
I'm due to go to NZ on May 30th on CP50. Having met with HSBC last week, the current deal (unsecured) is 2.75% above their base rate, which makes it 8.0% (simple) or
8.2%APR. The £1000 a month that eJ cadets get doesn't cover all the interest, repayments are around the £1100/month mark, plus any living expenses you choose to take. And it's a variable rate so could go up or down.
One thing I hadn't really considered that perhaps I should have done is that taking a £60k+ unsecured loan is not exactly going to do wonders for your credit rating.... HSBC's words, not mine.
It's a huge punt to take, but if everything goes according to plan then the investment pays for itself in (just about) a reasonable length of time. A recession, drop in airline's low hours requirements, house price crash etc etc all leave us quite exposed. I reckon we'd still be solvent if the worst happens (wife with good job, house already bought) but there ain't much of a buffer
