Hi Equinox
Absolute fiction I'm afraid. NJE provide 0% financial help towards the training until you start work. There is a tax break for UK based pilots once you start work and more detail can be found on the OAA site (don't have the exact link to hand).
If you require a loan (and most people probably will - it ain't cheap!) then you will have to approach HSBC or your own bank in the usual way. The only concession is that HSBC will raise their usual loan limit of 50k to 60k (if memory serves) as you have a conditional job offer on commencement of training.
Hope that helps.
Phil.