With regards to having to secure a loan against your house etc... the following is in the FAQ section on the OAT website.
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How quickly could I obtain a bank loan and what guarantees would I need to offer?
Under the special programme, a loan can be authorised within 6-8 weeks. For UK residents, full security will not be necessary, but the equivalent to a ‘parental guarantee’ will be required by the bank.
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Does anyone know what a 'Parental Guarantee' entails if, quote, 'full security will not be necessary'?
Does this mean I have to ask my dad promise HSBC i will pay it back?
And is this a different loan arrangement to the Previous NetJets sponsorship scheme?
Cheers, D