Finance For Modular Route
Join Date: Jan 2006
Location: Glorious nation of Kazakhstan.....great success!!!
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Yes, but don't expect the full amount. Just borrow for the IR. A bit simplified, I realise. Oh,and make sure you have a job before applying for the loan.
Anyway, all the best.
Yours truly
A KWV Merlot
Anyway, all the best.
Yours truly
A KWV Merlot
Join Date: Nov 1999
Posts: 2,312
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Yes, in so much as you can finance for pretty much anything you like, so long as you can afford to repay the borrowing, have adequate security or are borrowing no more than £25,000. They will also want a good credit history and see that you have an income or guarantee to repay the loan.
If you mean will banks view an ATPL as being a low risk / high income investment, then no they won't!
Look at this way. On a tangible asset such as property (which can be realized) they will want to see a deposit of typically 10-25% in order to make a secured advance (mortgage) and these days would regard an affordibilty factor of roughly 2.5 to 3 times your annual income (after commitments.) An ATPL via an integrated course would represent a factor of around 4 times any projected likely salary, with absolutely no realizeable value against the purchase. I appreciate your question concerned modular training, however that has no realizeable value either, and at this time is an extremely weak investment.
Every case is different, but you need to ask yourself before asking them, how you would be able to repay the loan without any regards to the highly speculative and intrinsically worthless nature of the proposed investment. If you can come up with a strong and convincing argument, you should be able to make a good business plan that they will consider.
If you mean will banks view an ATPL as being a low risk / high income investment, then no they won't!
Look at this way. On a tangible asset such as property (which can be realized) they will want to see a deposit of typically 10-25% in order to make a secured advance (mortgage) and these days would regard an affordibilty factor of roughly 2.5 to 3 times your annual income (after commitments.) An ATPL via an integrated course would represent a factor of around 4 times any projected likely salary, with absolutely no realizeable value against the purchase. I appreciate your question concerned modular training, however that has no realizeable value either, and at this time is an extremely weak investment.
Every case is different, but you need to ask yourself before asking them, how you would be able to repay the loan without any regards to the highly speculative and intrinsically worthless nature of the proposed investment. If you can come up with a strong and convincing argument, you should be able to make a good business plan that they will consider.
Join Date: Jun 2007
Location: UK
Age: 38
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Barclays and the Cooperative bank in conjunction with the government offer a career development loan which can be from £300 to £10000. The interest is paid whilst you are training and then you start paying the loan back 1 month after the course is finished. The training provider needs to be registered with the learning and skills council and I've been advised to use it for the instrument rating. For more info go on the direct gov website. Hope this helps
