Paying the mortgage...

[jnp]

Apologies if this has been discussed before, but here goes...

I'm a 31-year-old PPL holder (60hrs TT), married with a mortgage and for some daft reason I'm considering going for an fATPL(IR).

I'll almost certainly go down the modular route, expecting to spend £30-35k in total, which I'm working on finding, but my question is this...

How do I pay the mortgage in the meantime?

Assuming my first step is the ATPL writtens by distance learning, how long will it realistically take, assuming I take on a part-time job too? How many hours of study should I expect to do per day, assuming I want to spend no more than one year at it?

Once into hours-building and ME/CPL/IR/MCC courses, is it still realistic to work in between modules, just to keep some money coming in?

Has anyone tried this (training and working at the same time)? How did you get on? How long did it take from PPL - fATPL(IR)?

Final question - any suggestions for flexible, part time/full time jobs that pay a decent hourly rate (keep it legal!)

I know its a lot to ask, but I'd be interested in your thoughts...

[FlyingForFun]

Assuming my first step is the ATPL writtens by distance learning, how long will it realistically take, assuming I take on a part-time job too? How many hours of study should I expect to do per day, assuming I want to spend no more than one year at it?

It took me near enough exactly 12 months. I studied a couple of hours a night most weeknights, and several hours each weekend. It's not easy, but it is possible. Bear in mind, though, that if you fail any of the exams you'll need to add a couple of extra months for resits.

You should plan on taking 6 weeks off work for the exams. Almost all distance learning schools (I think LGU are the only exception) organise the exams into two modules, with a mandatory 2-week brush-up course, followed by one week of exams, for each module. (If you're really pushed you can cut that down to 5 weeks and 3 days, since there are no exams on Fridays).

Once into hours-building and ME/CPL/IR/MCC courses, is it still realistic to work in between modules, just to keep some money coming in?

Absolutely, as long as you can get the time off work.

Has anyone tried this (training and working at the same time)? How did you get on?

Am part way through it at the moment. Hour-building and exams finished, CPL course starts in 3 days' time.

How long did it take from PPL - fATPL(IR)?

Will be two years from PPL to CPL. I had planned on another year for the IR, then doing an FI course at the start of 2005 before looking for a job. But the market is picking up and I'm getting more and more sick of my current job, so I'm now looking at accelerating this and finishing everything off towards the start of next year, even if I have to quit my job to do so. But the timescales are mainly dependant on how much time you can get off work each year.

Good luck!

FFF
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[Whispering Giant]

JNP

It also took me exactley 12month's to do the 14 ATPL written exam's including a couple of retakes, At the same time also doing a full time job - so it is possible.

Cabair also do a distance learning course which is the one i did - and instead of doing it in 2 module's they do it in 4 module's - starting by doing a block of 4 exam's then 2 lot's of 3 exam's and finishing with a further block of 4.

Rgds

W.G

[Rowardennan]

Have you thought about moving your mortgage to a lender who offer flexible repayments?

Bank of Royal Bank of Scotland allow you to take up to 12 month payment holidays where you don't have to make any repayments

They offer it without you having to make overpayments first..which is quite unique as most other lenders require overpayments to be made before taking a break

I'm thinking about moving mine there at the moment

[Northern Highflyer]

I work full time and am currently studying for module 1 of the ATPL's. I am putting in around 12 - 15 hours study per week and have to say I have surprised myself with so far (but no doubt that can change at any time) with how much I have got through. I am aiming to have them complete within a year and then take 3 - 4 months off work to complete the CPL/ME/IR.

[Spinningtop]

FFF,

Where are you doing you flight training?

Hope you don't mind me asking.

[FlyingForFun]

Not at all, SpinningTop.

PPL and IMC at West London Aero Club, White Waltham.

ATPL exams with Bristol Groundschool.

Hour-building partly with Chandler Air Service, Chandler Airport, Phoenix AZ (including the night qualification) and partly in the aircraft I part-own which is based at White Waltham.

CPL at European Flight Training, Fort Pierce.

Haven't decided for the other ratings yet.

FFF
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[Man Flex]

Pay the mortgage!

You don't state what career you are doing at the moment.

Is it worth giving up this employment for the stress and hassle of trying to complete a fATPL with no guarantee of a job/career at the end of it. I would consider carefully how long this is going to take you and even then you'll be competing with twenty year olds with similiar qualifications and possibly several more hours.

If you want to check out another thread for a better insight have a look at "How to increase chances" by PilotWill.

[Future Pundit]

jnp

I too am in your position. I have taken a job in the offshore energy industry. The benefits are relatively high pay, 4 weeks on/ 4 weeks off, time at home to study and fly and when away, time in my cabin for undisturbed study. Best of all my wife is happy (a short 2-3 day holiday to France, Italy etc every time I come home works well).

If you are looking for a way to still pay the mortgage, consider offshore work - all disciplines are required.