Funding - Any good ideas???

[flyingdogguitar]

Hi,
Does anyone have any good ideas for raising the necessary funds for doing a Frozen ATPL commercial licence? HSBC loans, tax evasion, registered business to claim VAT back etc.etc.


Many Thanks

Dave

[Pole Hill]

flyingdogguitar,
Do a search for HSBC, you'll find useful information that has been discussed previously. :ok:
Infact, there was a thread regarding the pros/cons of paying for your training with a loan, then going bankrupt.
Click here (http://www.pprune.org/forums/showthread.php?threadid=122055)
POL.

[witchdoctor]

Not a course open to everyone, but given today's unfeasibly stupid house prices it might be worth approaching a close relative who has a house worth a vast amount over and above any mortgage owing on it.

Given the currently low relative cost of mortgages compared to other forms of borrowing, it is possible to borrow a large sum of money against the property at low rates (get some good independant financial advice on the right kind of mortgage). If your relative is particularly kind-hearted, they may even be able to offer you a more flexible repayment option than your average high street loan shark/bank.

Worth bearing in mind how you propose to repay any borrowings given that there is a very high probability it may be several months before you find your way into an airline.

[birdlady]

Hi Dave

Have you thought about South Africa??? Very cheap flying, excellent weather and you can claim all your vat back on your flying when you leave the country. There are some excellent schools here and apparently it is the closest ICAO licence you can get to the JAA. A brillant place to do your PPL and your hour building before returning to the UK to do your CPL. Also a twin rating here is a lot cheaper than it is in the UK. I am at Superior Pilot Services in Grand Central, Johannesburg. I can not recommend a better flying school and they are running some excellent packages at the moment. Our Chief Flying Instructor used to run FTC here in JHB which was a JAA approved school until they went bankrupt so he is really familar with the JAA system. Both our instructors are excellent and really know there stuff. Its a very small school but is growing bigger by the day. If you would like more info on flying in sa please msg me.
Good Luck
BL.