Hey guys thanks for both your replies and very insightful info! i actually spoke to CTC and BBVA over the weekend, both stated the interests rates you guys stated and the 2 year repayment holiday. What really sucks for me and so many people is that my collateral (property) is in Canada and not the UK which is a requirement for that loan. I think for UK nationals its great deal, sure there's interest but you're guaranteed a spot on a major airline that compared to other airlines pays well, so the net benefit would definitely be positive.
For those living in North America the program costs 225k CDN very hefty and no bank here would ever grant a loan close to that amount...