Just what's needed, yet more incorrect information that has been poorly researched....
1) I'll be training on the Airline Entry Scheme through Cabair (which is Modular when all's said and done) and got 55k only a month ago so that shoots down that one straight away.
2) The interest rate is exactly 2% above base. Where does the 2.75% above base come into it? Or are OAT students are getting sting for a higher interest rate???
3) You have a maximum of 2 years from training start date to commence repayments.
4) My loan is 100% secured against my parents property so the maximum of 50k isn't true.
5) HSBC will lend you whatever can be secured (within reason). They have little interest in how much you borrow, only that you can pay it back or failing all else, they can reclaim it from your parents house.
Apologies for flying off the handle on this one and whilst I don't pretend to know it all; I am in the middle of the loan process so am current as anyone.
Adios, I don't want to appear arrogant here but my advice would be to speak to the bank direct before speaking to the loan officer who clearly isn't all that up to date, which is slightly worrying!
I'm sure the amount available is dependant on the security that you can offer and the quality of the business plan that you send in with your application.
CS
