I would agree with Trevor, if you really want to do it, don't hold back.
The only thing that starting at a late age brings is a certain level of pressure that you wouldn't normally have if you we're 18-25. It's important throughout this that you enjoy it (easier said then done!) but it should be fun, albeit with a standard to reach. Starting at 35+ it's important you start to make earnings and having fun flying light aircraft isn't really an option...it's a shame, but that's the reality...
Be very aware of your place in the market with <200 hours total time and a CPL/IR. Also at 39 you may have to reduce your horizons somewhat, up against CTC cadets at easyJet/Thomas Cook/TUI Travel with the same experience could be a VERY long shot, you may have to settle for a turbo-prop as your flying career, big, shiny jets could be out of reach. I may be wrong on this but I suspect CTC Cadets will fill these places for inexperienced FO's - not because they are better than you, but because they are very cheap! Almost everything in aviation comes down to pounds, shillings and pence!
FlyBe/Eastern Airways/Aurigny/Air Southwest are great companies with more fun flying to be gained than sat in the cruise for 4 hours+. Probably a more satisfying career but with limited earnings compared to the companies listed above. And on a plus side, I think your age will be a plus point for these companies because the lure of a jet won't take you away and you'll probably be in the left hand seat with 3 years with alot of life experience behind you.
- Class 1 Medical
- Get your PPL
- I would consider Modular route...
- Try and have fun!
- Have a realistic career plan...pick an airline and research it well