Stratopause is right, I think the rate could be variable but I am waiting until I see the loan contract before I comment any further on that.
Striker...I have a friend who got through with me to the MPL and he's from Canada also taking out the BBVA loan. So there is a way around not having a property in the UK (I think) but I am not sure exactly what it is. I think he said he managed to get a mock contract from CTC to show the bank but this may only be applicable on the MPL courses. But yeah I'm afraid I'm not 100% sure on that one