Please think very carefully before handing over a big lump sum like £45k to any FTO in the current climate. The reason they offer discounted "up front" rates is that you are taking a HUGE credit risk - like the people who put their cash in Icelandic banks because they offered better interest rates. If they go bust you likely will never see your cash again. It is extremely difficult to get financing for flight training at the moment, therefore it is highly likely that some well known JAA FTOs will collapse in the next 12-24 months. Sure, BBVA will lend, but have you seen the terms? - the credit crunch has taken most wannabes right out of the picture.