The line was that HSBC would no longer offer the PDL for modular pilot training, however they will still lend to those on integrated courses.
The CDL is still quite striaght forward to obtain. There are still some personal loans out there that offer a three month deferrement on the payments (this is what I used to fund my IR originally), as it is a personal loan then the banks aren't concerned what you are using the money for, as long as your credit rating and work history demonstrates you can support the loan. So for the amounts you are talking about Alphmale if you have the credit rating you would be able to get 8 to 15000 as a standard personal loan anyway. However the best way to check is to go and ask HSBC.
The reason people opted for a PDL was simply the fact their credit rating wouldn't qualify for a personal loan of the same amount.
HSBC for the PDL use to lend to people on the grounds of a "business plan" drawn up by the individual; it is probably the case as a result they ended up with several low houred CPL holders owing 25000 and only a job in a burger bar to support the loan.
The other factor for the last few years was of course individuals in a position to remortgage to fund the training, if you bought a 70,000 flat back in 2000, then by 2004 it was worth 120,000 to 140,000 as a result there was plenty equity to "remortgage". Buying a flat now for 120,000/ 140,000 and hoping its value will increase in order to remortgage would be very optimistic, repossesions are on the up, hence property prices are at least now stagnating or only showing a 1 or 2 % increase each year. Hence now in four years you are not likley to gain the equity to remortgage to fund training; so yes WWW is correct there are not so many options now for funding training.
Last edited by portsharbourflyer; 12th November 2007 at 18:50.