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Paying for training - Loan

Old 6th Oct 2019, 16:28
  #1 (permalink)  
Thread Starter
 
Join Date: Oct 2019
Location: London
Posts: 3
Paying for training - Loan

Hi all,
I'm looking to start my training in November 2020 (in either UK or somewhere in the EU) and I'm thinking of how to raise the money to pay for the training. With everything I'm saving from my current job I'll be able to get just over 1/4 of what I will need to go to training. Has anyone gotten a loan without the need to provide a property as pay back guarantee, or found any alternative way to raise such amount of money? Has anyone got any tips?
Thanks,
Ale
ale.masetti is offline  
Old 6th Oct 2019, 19:03
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Join Date: Sep 2019
Location: London
Posts: 10
Apparently these guys do non secured finance: PEGASUS PERSONAL FINANCE for flying.

Barclays used to do a further study loan of 10k for 2 years I think at 0%

Would be better to work and save it yourself so you appreciate it and it would make u hang on to it and get the best deal with flight schools.
Bryan_Air is offline  
Old 6th Oct 2019, 20:15
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de minimus non curat lex
 
Join Date: Feb 2001
Location: sunny troon
Posts: 892
Keep working and save until you have 110% of what you calculate.
Groundschool, flying, accommodation etc.
Probably best to obtain your Class One Medical now, and do your PPL as the start of the Modular route.
At least you will know on completion of the PPL if the CPL/IR is viable in terms of ability.

Loans are not necessarily the answer as debt mounts without certainty of repayment from aviation.
A definite risk and the interest rate will reflect aviation training.

The tide will shortly turn and jobs a plenty might not last for ever.
parkfell is offline  
Old 6th Oct 2019, 22:17
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Join Date: Dec 2005
Location: UK
Age: 41
Posts: 102
What do you THINK you need? You can do everything modular for £40,000 so assuming you've got £10k, (assuming good credit) you can easily find the rest from loans and/or 0% credit cards
rudestuff is offline  
Old 6th Oct 2019, 23:39
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Join Date: Sep 2019
Location: London
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rudestuff, I think 40k is a bit cheap if MCC/JOC included, its possible but would have to be quite knowledgeable, maybe put ur best guesstimates down to help a few people get the best idea, am a bit rusty now on prices etc.
Bryan_Air is offline  
Old 7th Oct 2019, 08:25
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Join Date: Mar 2006
Location: Buckinghamshire
Age: 36
Posts: 10
£40-45K is more than enough for the modular route. I've got multiple routes that have no higher cost than £45,000. I'm going through training now and if you look to learn smart and efficiently then the budget mentioned is more than enough.
Ollie247 is offline  
Old 8th Oct 2019, 20:56
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Join Date: Oct 2019
Location: London
Posts: 3
Thanks for all the tips everyone. The intention is actually going to the integrated training and my targeted raising is with some around 110%, which is good. The reason I donít really want to wait until Iím able to raise all the money myself is because it will take good 3 years or even a bit more. Considering Iím already 31 Iím not looking to wait for that long. Iíll have a look into the different options you all suggested. Thanks
ale.masetti is offline  
Old 9th Oct 2019, 20:59
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Join Date: Oct 2019
Location: London
Posts: 3
Just cleared Parkfell! Thanks
ale.masetti is offline  

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