Kerosine

Where is it? Can't seem to find out from my letters

99jolegg

I got a letter with a footnote about the day, saying they'll be in touch about it closer to the time.

Jordie1983

Just a quick note to those interested in the loan situation.

I just recieved an email to confirm that all new applicants must apply for their own loans through whatever bank they choose. They do still have contact with HSBC and advised me to contact them as a first option.


The secured loan may not be available in the future.

Vbells

Are there any other banks who would give such a large unsecured loan? I seriously doubt it. What is the nature of CTC's contract with HSBC now? Does that mean that they still offer the unsecured loan, just not through CTC? I'm totally stuffed if I can't get a loan

Jordie1983

I dont really want to copy and paste the email, but it just says that the loan is the cadets responsibility and that they must contact HSBC themselves if thats who they want the loan from.

HSBC do have an arrangement with Cabair, which is still a secured loan. We can only hope that a similar thing will be offered.

I doubt that many banks will loan in excess of £60'000 without an awful lot of equity as house prices fall!!!

I'm sure there are a few of us who will have to look at other ways of doing it!!

I am in correspondence with CTC and will update if i find out anything else.

I know that people are still having interviews with HSBC until end of September.

The whole situation is a bit hazy at the moment with the economy as it is.

mlowe

For those who have recently and successfully obtained the hsbc loan from southampton...

What questions/checks/expectations do they expect.

Meeting friday - clearly concerned given the importance of the funding.

Any help would be hugely grateful.

Mike

Kerosine

Expect to be asked on outgoings and incomings, any saving and debts, and also backup plans. Also may 'informally' ask about motivations, history, why a pilot etc.

Just go in knowing your exact financial position and put on your phase 3 interview head

On another issue...

Does anyone know whether you get your uniform at the meet and greet or in NZ?

What other kit do you get at the meet and greet?

Thanks chaps

Jordie1983

Just got off the phone to HSBC in southampton and they said as of the end of september there will be no loans at all for CTC students!! Even their professional studies loan doesnt cover pilots!!

Just wondering if anyone has been to selection what they are saying??

The website has changed too explaining what you now have to pay.

singingpilot

Can someone post a link to the HSBC site that deals with the loans for pilot training please.

Thanks

Kerosine

Jordan
singingpilot
Am I missing something?

Maybe you should have a quick look and let us know what you find

edit: Good luck with phase 4 tomorrow Chris

Jordie1983

Kerosine; Im not sure what the other poster is talking about but HSBC have a professional studies loan of up to £25'000 for people training to be doctors/lawyers etc etc.... unfortunately training to be a pilot is not included!! Google it and you will see.

Anyone any ideas as to where i can borrow the money??? Answers on a postcard!!

singingpilot

Sorry if I have caused confusion, I read about a web site detailing information on the HSBC situation and assumed that this was an HSBC web site. I think I was mistaken!

I have my phase 4 tomorrow, sitting at home trying to think of things to do to keep my mind occupied!!

Hope I haven't jinxed phase 4 by asking about HSBC

Chris

Kerosine

Wish I could offer a suggestion, unfortunately at the mo I'm stumped
Try these

737-3/4/500 Flightdeck

Boeing 737 Flight Instruments

jaimz1982

Hi Everyone,

Been reading the post for a while now as I'm due out on the CP67 course in October.

I'm an ICP guy, but my loan has all been confirmed, I've passed the tests etc, passed the credit rating etc and all that jazz. However, mine is stuck at the Solicitors stage where you have to get your parents legal advice as it is secured against their house.

I've been let down by HSBC as they've sent the wrong information to me and I've now had to hassle them to re-write the correct agreement between themselves and my parents.

Does anyone therefore know / had the opportunity to speak to anyone regarding the situation? e.g if you're halfway through / 75% through sorting it, how do you stand regarding the loan in september?

I've tried ringing Lynda,m but shes no longer there and Allison is on HOliday and Samantha hasn't rung me back. I've even got onto the securities dept who are tryng to sort the situation out!

Anyone else in similar situa on wings or icp course?

tredsell

jaimz1982, did you get the full amount of the course cost +living expenses? or have you had to stump up some of the money yourself. I'm trying to sort a place on the iCP course too, but money is all the issue! and no-one from HSBC is about to talk to!

jaimz1982

Got the whole lot tredshell, £79,700

I love debt!

poss

ICP is just like going to any other FTO, you are required to front the cash from your own sources.

Jordie1983

Thats the impression i got!!!

Robbo0885

Does anyone know the reasoning behind this change in CTC/HSBC partnership? I'm going ou ton CP69 on Dec31st, and my head is spinning with possible reasons (none of which very positive!).

Now, I'm a worrier by nature, so this situation regarding HSBC and CTC has (unsurprisingly) made me worried.

Is there anything conrete (i.e. not what osmeone thinks and posts as "I heard...blah blah blah) about why HSBC are stopping funding, and what implications this has for the CTC Wings Cadets?

What are CTC saying to the guys going through selection about financing and this recent change?

Kerosine

Same reason people can't get credit cards and mortgages. Banks don't want to lend large sums of money any more regardless of whether you're a CTC cadet, OAA cadet or a starting up a new business. It's in CTC's interests to have this agreement in place but ultimately the decision lies with the lender.

Implications are that new cadets will have to secure an independant loan against a property and/or fixed asset. This makes it effectively unavailable to people such as myself who do not have fixed assets.