Back to the point in hand....
In the worry that this thread is going off on a tangent... and perhaps getting a little personal (Grass - I admire your danglies but attacking one of the moderators is not a great idea unless you'd like to sign on one day and suddenly find you've been renamed "Merchant Banker" or something to that effect) I'd like to challenge Chris-squires on his original post.
Chris, I am currently waiting for a decision from HSBC bank regarding a 50k secured personal studies loan that I pitched for 3 weeks ago. I have a secure job that pays well-ish and, more importantly, I am qualified and experienced in my area so can return to it after flight training until I get an aviation job (as a way of making the repayments).
I am expecting an answer week commencing 20th August and, having read your post, I contacted my loans adviser. She told me that every branch has a different policy on PSLs and Wakefield, the branch that I applied to, are in the early stages of setting up a PSL process with Multiflight in Leeds. Nothing has changed. I guess this is similar to the one with OAT... basically they are more likely to lend you the money if you train at Multiflight. I am confident that, unless there is something wrong with my credit rating that I didn't know about, I will get the money. My presentation was well received and my feedback thus far has been positive.
Conclusion: if one door is shut in your face, try the next one. I have the relevant contact details if you need them.
WWW - I like your style, steal from the banks to fund the ambitions of us under-privelaged pilot wannabees.... you're the modern day Robin Hood. Having said that, I intend to repay every penny of the loan!
Regards,
L A