Funding for UK MPL training - CAE EasyJet

[Pstrutt26]

Hello,

I was wondering if anyone could help me.

I am looking at completing an MPL course next year, subject to the economic/industry state post coronavirus.

I was wondering if anyone knows of a bank that still allows 'holiday periods' for repayments. I have spoken to Pegasus and Optimum credit and both require payments straight away. I understand the Spanish bank BBVA offered these holiday periods in the past but no longer offer this service.

Cheers in advance for any help!

[VariablePitchP]

Originally Posted by Pstrutt26

Hello,

I was wondering if anyone could help me.

I am looking at completing an MPL course next year, subject to the economic/industry state post coronavirus.

I was wondering if anyone knows of a bank that still allows 'holiday periods' for repayments. I have spoken to Pegasus and Optimum credit and both require payments straight away. I understand the Spanish bank BBVA offered these holiday periods in the past but no longer offer this service.

Cheers in advance for any help!

How are you financing the loan. Unsecured? Securing it against a property, extending a pre-existing mortgage?

That’ll massively effect what options we are looking at.

[planesandthings]

I do not believe without airline backing/securing funds that there are any payment holidays for courses. Though interest rates are now down, I think large unsecured loans are going to be few and far between. Best bet is family or go modular and save.

With the Airline Industry in freefall, do not get too excited currently about entering training until at least the start of 2021. Most of us who fly for a living are at risk and might not have a job in a few months time and will be after limited jobs. We have no idea to what level it will recover but any big demand for pilots in the next at least 4 years has completely vanished.

[Pstrutt26]

Funding

Originally Posted by VariablePitchP

How are you financing the loan. Unsecured? Securing it against a property, extending a pre-existing mortgage?

That’ll massively effect what options we are looking at.

Apologies for the lack of information, I plan on financing the secured loan on an owned outright property worth circa £550,000. I am looking at a loan of around £60,000 - £70,000.

[ford cortina]

Seriously...... Pstrutt26, Firstly I would not even consider MPL in this climate. Secondly I would look at modular, you wont have a job for a while, so why rush. Thirdly you probably have made your mind up, so go ahead.

[Pstrutt26]

Reply

Originally Posted by ford cortina

Seriously...... Pstrutt26, Firstly I would not even consider MPL in this climate. Secondly I would look at modular, you won't have a job for a while, so why rush. Thirdly you probably have made your mind up, so go ahead.

With the current situation with covid and after reading a lot of other posts on here I completely agree that postponing training is the right move. I currently have a decent graduate job, so i'm in no rush at the moment. I plan on continuing with that and further looking into modular training for the future when things start to become more stable again in the industry.