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EasyJet MPL 2017

Old 26th Sep 2017, 17:37
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There's a lot of talk about underwriting loans, but even if offered I'd be cautious.

BBVA were the only lender to offer a product with a 24 month payment holiday, and nobody has mentioned this of other lenders.

Once BBVA withdraw their product that leaves people sourcing loans from elsewhere - and it's entirely possible there will be no payment holidays. You could only then assume that this underwriting would be on a loan in which you would start making payments immediately (while you are studying with L3)

Lenders are unlikely to offer a payment holiday of longer than 12 months and more unlikely to do so at the start of the loan. High street lenders will be looking for your first payment a month after they release that money.

I just hope everyone here in their early 20s are aware with the financing of it all and how banks lend money.
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Old 26th Sep 2017, 17:56
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Personally, being 28 and my parents being close to retirement the last thing I wish to do is ask them for assistance in this (by way of securing any borrowing against their property / otherwise).

Obviously the cadet still takes on the debt and is responsible for the repayments (unless declared bankrupt etc.).

Absolutely BBVA are unique in their repayment schedule, the perks of a product created specifically for flight training.

I think anyone going into this process, nevermind accepting a training position, is entirely aware of the financial burden that will undoubtedly make the first few years post-qual hard work. At least I hope this is the case....

I do wonder with other lenders whether or not you could boost the amount borrowed to cover the initial payments. Though this would probably amount to 20k odd and would be hard to justify to the lender.
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Old 26th Sep 2017, 19:12
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I received my acceptance on Friday and still havenít had a phone call, has anyone had a letter through the door yet?
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Old 26th Sep 2017, 19:36
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When did you pass your stage 2? And what route did you get?
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Old 26th Sep 2017, 19:42
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26th July and Route 3.
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Old 26th Sep 2017, 20:14
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Originally Posted by Huggies_23
Personally, being 28 and my parents being close to retirement the last thing I wish to do is ask them for assistance in this (by way of securing any borrowing against their property / otherwise).

Obviously the cadet still takes on the debt and is responsible for the repayments (unless declared bankrupt etc.).

Absolutely BBVA are unique in their repayment schedule, the perks of a product created specifically for flight training.

I think anyone going into this process, nevermind accepting a training position, is entirely aware of the financial burden that will undoubtedly make the first few years post-qual hard work. At least I hope this is the case....

I do wonder with other lenders whether or not you could boost the amount borrowed to cover the initial payments. Though this would probably amount to 20k odd and would be hard to justify to the lender.
No lender will lend more to allow you make payments on the same debt. I doubt any airline would underwrite a loan far greater than the course cost.

Iím sure everyone is aware of the financial burden, but Iím sure even you would agree that there are some who havenít quite got a proper grasp of the scale of this financial burden. Thereís a degree of naivety almost, and I canít help but wonder if there is a belief amongst some that if the airline underwrites your loan youíre not physically paying. I get the impression some are thinking of this as corporate sponsorship.

We are talking about a sum of money which would be enough to buy a small home and the process for getting a mortgage these days is incredibly intrusive on your financial affairs.

I have approached my own bank as they are offering a large unsecured loan product. After enquiring I found they want to see evidence of earnings and how I would pay for the product several years down the line. They also want to know what the loan is for as that will factor into their decision.

Secured lending on a home with equity is likely to be the only real solution. But with shared-equity and Help to Buy etc, Iím not sure it will be possible to secure additional lending on that property.
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Old 26th Sep 2017, 20:44
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Originally Posted by 31Pilot
No lender will lend more to allow you make payments on the same debt. I doubt any airline would underwrite a loan far greater than the course cost.
Agreed.

Originally Posted by 31Pilot
Iím sure everyone is aware of the financial burden, but Iím sure even you would agree that there are some who havenít quite got a proper grasp of the scale of this financial burden. Thereís a degree of naivety almost, and I canít help but wonder if there is a belief amongst some that if the airline underwrites your loan youíre not physically paying. I get the impression some are thinking of this as corporate sponsorship.
I do believe some folks see underwriting as an all-expenses-paid ride, though I hope this view was quickly corrected upon any serious consideration of undertaking the training (you could say it is naive of me to believe in some people to that extent)

Originally Posted by 31Pilot
We are talking about a sum of money which would be enough to buy a small home and the process for getting a mortgage these days is incredibly intrusive on your financial affairs.
Even on 40k pa (assuming you get this on flexicrew for the first 12 months), loan repayments of 1k pcm will hurt...a lot...but this is what folks need to be aware of.

Originally Posted by 31Pilot
I have approached my own bank as they are offering a large unsecured loan product. After enquiring I found they want to see evidence of earnings and how I would pay for the product several years down the line. They also want to know what the loan is for as that will factor into their decision.
Will the presentation of a conditional contract of employment with easyJet ease their woes? I haven't actually laid eyes on this so I'm not sure how much detail it goes into. Wouldnt be surprised of it was disconcertingly vague.

Originally Posted by 31Pilot
Secured lending on a home with equity is likely to be the only real solution. But with shared-equity and Help to Buy etc, Iím not sure it will be possible to secure additional lending on that property.
In conclusion: difficult. In some cases impossible. But, they can "afford" for it to be this way. Joy!

Last edited by Huggies_23; 26th Sep 2017 at 20:45. Reason: Typo
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Old 27th Sep 2017, 01:10
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Originally Posted by o_rey28
26th July and Route 3.
Thank you my friend. Congrats. Have you been given any start date?
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Old 27th Sep 2017, 03:01
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Hi everyone, do they accept overseas applicants?
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Old 27th Sep 2017, 07:48
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If you have the unrestricted right to live and work in the UK, yes. I applied from overseas.
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Old 29th Sep 2017, 20:11
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easyJet have confirmed that they will be at the Pilot Careers Live event at London Heathrow 4 November. This is a great opportunity for those who are wanting to find out more about the airline.
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Old 29th Sep 2017, 21:05
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Originally Posted by o_rey28
26th July and Route 3.
Hi Mate,

Congrats! Same as me, I am confirmed on the course now and have had joining instructions through, have you got a booked start date yet?

Thanks,
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Old 29th Sep 2017, 21:09
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Hi All,

I just wanted to post my experience.

I attended selection in May and have just sorted all the medical etc. and will be starting next week on Route 3.

Best of luck to all, anyone who is on the same intake, let me know!
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Old 29th Sep 2017, 22:19
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Hi congrats to you also! I still need to get medical and funding in place so will be a while for me yet!
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Old 29th Sep 2017, 22:52
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Congratulations! Do update us on you training if you can! Best of luck on your training.
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Old 1st Oct 2017, 20:08
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Originally Posted by o_rey28
Hi congrats to you also! I still need to get medical and funding in place so will be a while for me yet!
Ah no worries!, hope it all goes well, my Medical took a while with the CAA but I am sure yours will be fine and you will be starting in no time!

Drop me a PM when you are starting and we can catch up.

Best of luck!
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Old 1st Oct 2017, 20:09
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Originally Posted by EGPF
Congratulations! Do update us on you training if you can! Best of luck on your training.
Thanks, will do!
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Old 3rd Oct 2017, 16:30
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Has anyone been given any start dates for January?
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Old 3rd Oct 2017, 21:20
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Hi All,

Does anyone know if the 'Flying Through Boxes' test at L3 includes a time delay? I'm using SkyTest to prepare for an upcoming assessment and it would be very helpful to know what setting to use.

Many thanks!
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Old 3rd Oct 2017, 22:36
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The test has a small delay with input. You also have to counteract your response sometimes, e.g. after turning left, you have to apply a small amount of right to achieve the desired heading.

TOP TIP - Stay calm and use small movement. There's a tendancy for people to become flustered when missing a box and then to overcorrect which makes things a lot worse.
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