Career Development Loan refused, why?
Join Date: Sep 1999
Location: Yorkshire
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Hey,
I don't know if i am allowed to do this, but for those that are intrested in the HSBC loans try this:-
http://www.banking.hsbc.co.uk/person...uate-loans.htm
If there is any problems, delete the post by all means.
Cheers
I don't know if i am allowed to do this, but for those that are intrested in the HSBC loans try this:-
http://www.banking.hsbc.co.uk/person...uate-loans.htm
If there is any problems, delete the post by all means.
Cheers
Join Date: Aug 2000
Location: Toy stores everywhere.
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Why did they turn you down? Because banks only like to lend money to people who don't need it. Don't be put off, but do your research before you try again at a more enlightened bank (I likewise recommend the HSBC).
It doesn't pay to be too, ahem, honest with banks. Tell them what they want to hear, as long as they get paid back it doesn't matter.
Good luck.
It doesn't pay to be too, ahem, honest with banks. Tell them what they want to hear, as long as they get paid back it doesn't matter.
Good luck.
Join Date: Mar 2001
Location: UK
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Just had the same happen to me this week from RBS. It really shot me down in flames. I am so close at this moment and yet I cannot get the money, it is heart breaking. I left a great career for this nonsense. Hence Istarted the post job hunting.
I will make it...just through sheer guile and determination. and by robbing a bank.
Went to HSBC, a bunch of arse. Have spoken to all of the highstreets. Lloyds have helped. Going to try Barclays tomorrow for the CDR.
Looking for a job in the meantime.
I will make it...just through sheer guile and determination. and by robbing a bank.
Went to HSBC, a bunch of arse. Have spoken to all of the highstreets. Lloyds have helped. Going to try Barclays tomorrow for the CDR.
Looking for a job in the meantime.
Join Date: May 2001
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If you get knocked back from a few its always worth paying the 5 quid to see your credit details. It could be that you have the black spot on them by mistake and that is the reason why you are always getting the bums rush.
All the banks run from the same data sources so this could be your problem.
MJ
All the banks run from the same data sources so this could be your problem.
MJ
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Join Date: Jul 2001
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They really are a pain in the backside these CDL's.
After much to-ing and fro-ing, finally managed to get my CDL approved. Problem centred around proof of funding for my ATPL course in it's entrity. Had to send more details about where the money's coming from.
Why the frig didn't they say that in the letter declining my application I ask myself.
After much to-ing and fro-ing, finally managed to get my CDL approved. Problem centred around proof of funding for my ATPL course in it's entrity. Had to send more details about where the money's coming from.
Why the frig didn't they say that in the letter declining my application I ask myself.
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Hmm...banks. Cock suckers in my opinion.
They're bigger than you and they know it.
You play by their rules or you can bugger off.
All part of the profit-making quasi-governmental burecracy. They decide what goes.
Don't let the buggers grind you down.
They're bigger than you and they know it.
You play by their rules or you can bugger off.
All part of the profit-making quasi-governmental burecracy. They decide what goes.
Don't let the buggers grind you down.
Join Date: May 2001
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To state the obvious: Banks are not charities, and they have shareholders, customers and a Government to keep happy.
If you can convince the Bank that you are responsible, and that your numbers add up, you might well be in there with a good chance.
In my experience HSBC has a slightly more friendly approach to young professionals, but it is a business - no more or less.
If you can convince the Bank that you are responsible, and that your numbers add up, you might well be in there with a good chance.
In my experience HSBC has a slightly more friendly approach to young professionals, but it is a business - no more or less.
Join Date: Mar 2001
Location: The Northern Wastes
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My smpathys with any body trying to get a CDL. I was refused four times with no resonable reason given by any of the banks tried which included RBS Clyesdale Co-op and finaly Barclays. 20 or 30 persistent phone calls later and a nice Aussy phone operator called Tanya finaly got me the loan what a pain in the arse. thankfully all training now completed. my background is I am a 22 year old ex Chef never earned more than 12k a year living back at home with the folks with all savings severly depleted. keep asking them and enentualy they will crack!
Join Date: Apr 2000
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I went to HSBC a while back and they said they wouldn't lend me the money on a Prof Studies Loan because it is about 5 years since I left Uni - the f**king idiots didn't even know their own product range - kept refering to their "manual"!!!!!!
Wouldn't touch 'em with a barge pole.
When I argued the case the chap I saw he said he had checked with his "Central Lending Unit" and I didn't qualify.
PFO
Wouldn't touch 'em with a barge pole.
When I argued the case the chap I saw he said he had checked with his "Central Lending Unit" and I didn't qualify.
PFO
Join Date: Aug 1999
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Wow! Can't believe all the problems you guys are having. I have taken out 2 CDLs in the past, one I paid back at the end of the course by getting a lower interest loan and paying back the £8k, thus giving myself two years of 0% interest payments. Both times the loan was through the Co-op in Skelmersdale. Of course, you have to provide a bit of info for them. I just sent a letter in with my application explaining what I was doing, what I would end up qualified for, etc. Of course, you can bend the truth a little. If you are doing your ATPLs or CPL then say that you are doing an Airline Pilot Licence. They don't know you also need an IR and hours and flying training. It looks really good. Then mention in the letter that you airline pilots generally start on salaries of around £35k+ (don't mention turbo prop FOs get a lot less).
Explain why you need to borrow the money (difficult if you already have a huge salary and own a house).
Also, check out your credit rating before applying. And always tell the bank about any CCJs.
That is it!
Both times I just sent the forms and letters and told them I needed the money fairly quickly, and within about 2 weeks, new account set up and money in it.
I like the sound of the HSBC one too, but would be worth getting the CDL first then paying it back in full before the first repayment is due, by using HSBC money.
Another tip is to make your living costs (full time course), books, travel costs, licence fees, exam fees, etc. as high as possible as these are paid direct to you. You can only claim for 80% of course fee so if you have say £3000 of living costs, etc. then you'll easily make the £5000 for the course cost. Don't say the course cost is ridiculously high or they'll want to know how you are funding it.
Worth adding in the letter to the bank that you have saved a little money already to pay the remainder of the course fee.
Easy.
Boy, I hope you guys don't have this sort of problem with job applications.
Explain why you need to borrow the money (difficult if you already have a huge salary and own a house).
Also, check out your credit rating before applying. And always tell the bank about any CCJs.
That is it!
Both times I just sent the forms and letters and told them I needed the money fairly quickly, and within about 2 weeks, new account set up and money in it.
I like the sound of the HSBC one too, but would be worth getting the CDL first then paying it back in full before the first repayment is due, by using HSBC money.
Another tip is to make your living costs (full time course), books, travel costs, licence fees, exam fees, etc. as high as possible as these are paid direct to you. You can only claim for 80% of course fee so if you have say £3000 of living costs, etc. then you'll easily make the £5000 for the course cost. Don't say the course cost is ridiculously high or they'll want to know how you are funding it.
Worth adding in the letter to the bank that you have saved a little money already to pay the remainder of the course fee.
Easy.
Boy, I hope you guys don't have this sort of problem with job applications.
Join Date: Apr 2001
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Just popped back to see how the thread was progressing, and the predictable prevails!!
When will you guys realise that the World does not owe you a living. Banks are Banks and they have their rules and you will not change them. This whole aviation thing is about working the system and not about trying to change it. There are lots and lots of little people out there with their rule books… in Banks ... in the CAA etc etc. You will NOT change them.
You have been given chapter and verse about CDL application, on this site both by me and by others, yet you still continue as if you know better than those who have been there before you.
If you think getting a CDL is hard, you are in for a big disappointment when you find out what comes next.
If you want to get on in this industry, play the system, it stinks but you won’t break it!
There is a shed load of information here, which is freely given by those who now have a nice and very expensive blue plastic folder with the words ‘JAA Commercial Pilots Licence’ in gold letters on it. Listen to them and save yourselves a load of grief!
[ 17 August 2001: Message edited by: clear prop!!! ]
When will you guys realise that the World does not owe you a living. Banks are Banks and they have their rules and you will not change them. This whole aviation thing is about working the system and not about trying to change it. There are lots and lots of little people out there with their rule books… in Banks ... in the CAA etc etc. You will NOT change them.
You have been given chapter and verse about CDL application, on this site both by me and by others, yet you still continue as if you know better than those who have been there before you.
If you think getting a CDL is hard, you are in for a big disappointment when you find out what comes next.
If you want to get on in this industry, play the system, it stinks but you won’t break it!
There is a shed load of information here, which is freely given by those who now have a nice and very expensive blue plastic folder with the words ‘JAA Commercial Pilots Licence’ in gold letters on it. Listen to them and save yourselves a load of grief!
[ 17 August 2001: Message edited by: clear prop!!! ]
Join Date: Jul 2001
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Hi all
Might seem obvious but have you asked if you can meet someone face to face at your local branch, as the lovely boys and girls on the phone don't have the power to say 'yes' if a computer shows you to be a 'no'........ Old style banking here we come, they may well know ways round the system. It helps if you have a good history with them,obviously, but definitely a better shot than companing that the system doesn't work
Wor
Might seem obvious but have you asked if you can meet someone face to face at your local branch, as the lovely boys and girls on the phone don't have the power to say 'yes' if a computer shows you to be a 'no'........ Old style banking here we come, they may well know ways round the system. It helps if you have a good history with them,obviously, but definitely a better shot than companing that the system doesn't work
Wor
Join Date: Feb 2001
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I'm amazed that any bank would lend £8-£50k to a 19 yr old. I had difficulty getting a £500 student overdraft at that age. Banks have a responsibility to the applicant as well as to their shareholders.
Instant gratification is all very well but you could end up financially crippled for the rest of your life.
Why would you want to saddle yourself with that level of debt when you can apply to sponsorships??
What is wrong with the traditional way of getting money ie working for it? Surely 1-5 years of applying to sponsorships whilst working would enable you to save some money, should your applications prove to be unsuccessful.
Best regards
It's happening - I'm turning into my dad!!
[ 18 August 2001: Message edited by: Blindside ]
Instant gratification is all very well but you could end up financially crippled for the rest of your life.
Why would you want to saddle yourself with that level of debt when you can apply to sponsorships??
What is wrong with the traditional way of getting money ie working for it? Surely 1-5 years of applying to sponsorships whilst working would enable you to save some money, should your applications prove to be unsuccessful.
Best regards
It's happening - I'm turning into my dad!!
[ 18 August 2001: Message edited by: Blindside ]
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It's true that no one owes you anything, and that the only way to get through life is to play the system.
Look at John Major if you want an example of what can be achieved by a man of little discernible talent:
The man who ran away from the circus to join a firm of Charted Accountants. No charisma. A mediocre public speaker at very best. No academic qualifications. The greyest little man one could imagine. What happened? He kept his head down, worked hard and pushed forward at every stage of his political career.
Result: a man who when from being a dullard to being a dullard who also was British Prime Minster.
Anyway, back to money matters.
After calling the banks a bunch of cock suckers in my last posting, I'd like to sing HSBC's praises…
Popped in HSBC Kidlington branch. Very helpful. Knew all about Professional Studies Loan. Surprisingly knowledgeable about flight training in general, for example, the Doris whom I spoke to even knew what an MCC Certificate was - maybe because of proximity to OATS??
Anyway, £12,000 loan sorted in short order at a lower interest rate than a CDL.
Why would you bother with a CDL? High interest rate limited borrowing amount, etc - plus from what I hear, you have to jump through hoops to get one anyway.
Before you ask, no, I'm not training at OATS…they really are a bunch of co.. su….. [before I get any angry responses….at least the Marketing Dept are, I'm sure all the instructors and everyone else are fine]
Look at John Major if you want an example of what can be achieved by a man of little discernible talent:
The man who ran away from the circus to join a firm of Charted Accountants. No charisma. A mediocre public speaker at very best. No academic qualifications. The greyest little man one could imagine. What happened? He kept his head down, worked hard and pushed forward at every stage of his political career.
Result: a man who when from being a dullard to being a dullard who also was British Prime Minster.
Anyway, back to money matters.
After calling the banks a bunch of cock suckers in my last posting, I'd like to sing HSBC's praises…
Popped in HSBC Kidlington branch. Very helpful. Knew all about Professional Studies Loan. Surprisingly knowledgeable about flight training in general, for example, the Doris whom I spoke to even knew what an MCC Certificate was - maybe because of proximity to OATS??
Anyway, £12,000 loan sorted in short order at a lower interest rate than a CDL.
Why would you bother with a CDL? High interest rate limited borrowing amount, etc - plus from what I hear, you have to jump through hoops to get one anyway.
Before you ask, no, I'm not training at OATS…they really are a bunch of co.. su….. [before I get any angry responses….at least the Marketing Dept are, I'm sure all the instructors and everyone else are fine]
