Propagandi
Your plan I understand is this
Give myself a year to a) raise/save funds, b) secure loan from HSBC and most importantly C) let the winds of the current global financial storm settle and see how my prospects look. If the main forecast is correct 2008/2009 will be full of economically hard time affecting most if not all aspects of business in a negative way. But by late 2009/ going into 2010 thing should begin to look good again, and by this time (having started my training in spring 2009) I should have timed it right and will be able to enter an industry with greater employment opportunities for a recent ATPL graduate
If you are asking me what is wrong with this plan then the answer I'm afraid its pretty much all of it.
You dont mention your age, that is probably the most critical thing to affect the process of you getting a license. To be honest you could probably get a PPL and the ATPL's done for maybe 10k pay that back over 3 years at £300 a month whilst having a proper job. In three years time pop your head above the parapet and have a look see, if things are improving you are ideally placed to jack in work borrow another 15-20k and do the CPL/IR and be ready in 6 months for all the new 737 jobs that will be miraculously appearing.
The PPL will probably take 12-18months involve either two winters or two summers, the JAR Exams probably another 9-12 months with distance learning. If you choose the right school you will be just as good as skilled as anybody else in your experience bracket
The alternative is to have HSBC chasing you for 3-4 Years and be struggling to keep current, keep the powder dry and expose yourself to Aviation in a way that minimises your exposure.
May I also suggest that you give your shoes a polish bob down to your airport and find some corporate or GA machine and ask if you can hitch a ride somewhere, you will probably get told to bugger off - you might get lucky. This shows bigger cahunas than begging 80k off HSBC and galantly putting up your parents home as security.
After 2001 the job market was truly terrible for around 5 years, listen to the people who were around then and learn from the mistakes that were made, just dont forget to be empathic about the 80k oxford "Graduates" who will be cleaning your car windscreen at the traffic lights because they are bankrupt or involved in an IVA