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Old 22nd Nov 2012, 08:37
  #200 (permalink)  
Stocious
 
Join Date: Oct 2012
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No guesses, your figures are a little out of sorts to those given by BBVA.

At current repayment rates and the standard BBVA 10 year loan period, repayments (after the two year payment holiday and for a standard £84,000 amount) are two years at about £850-£900 a month, then approx £1250-£1300 until the end of the loan period. Note you will still get the £1000 from BA a month irrespective of how you finance the training, and you can always overpay the loan if you can afford to. Admittedly this doesn't include living expenses or the FTO top up, but its merely given as a guide for those fortunate enough not to need this aspect financed.

At the time of repayment increase, the base BA salary will have increased to £32k plus flying and duty pay, plus the bond repayment. It's certainly not a product that should cripple those successful applicants.

According to a BALPA source, FPP salaries are as follows: (all are base salary on PP34 from 2011)

Year 1 - 22770
2 - 27628
3 - 32395
4 - 39047

Unfortunately, I don't know the years above this, it was just sent to me as a guide for the first few years financial planning, but as quoted above, it joins the normal scale at roughly £60,000 base if you're still flying SH at that time.

Last edited by Stocious; 22nd Nov 2012 at 08:40.
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