The HSBC has in principle agreed to loan me the money to finish my modular CPL/IR, and hopefully leave some money in the kitty for an MCC and instructors rating. No security needed other than life insurance. I think it has helped that I am a customer in good standing of ten years.
So it's Multiflight here I come in June, and I don't have to do nasty tricks with Credit Cards to get there
Tips for getting a loan:
- Like all things in life, dress smartly and be polite.
- Type up a full 'business plan' with a clear plan B for if you have difficulty getting a job/other eventualities. All that the bank is interested in is to be sure that they make a profit and that you are not going to default, covering all eventualities shows that you are really thinking things through.
- Don't overplay the difficulty in getting a job though! Don't mention instructing salaries but highlight mid-jet FO salaries as being a likely position in five years time (Join BALPA/IPA for the figures!).
- Show how much of your own money you have committed to things already (e.g. PPL) - they like to see that you are venturing your own money as well as theirs.
All in all, don't lie at the application, just be choosey on which aspects of our wonderful pursuit to highlight!