Money and Banks!
Thread Starter
Joined: Sep 1999
Posts: 95
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From: Yorkshire
Money and Banks!
Well, Ispent the best part of yesterday a an office at my local HSBC, and am delighted to say that they have offered me a Professional Studies Loan, so sod the CDL's as someone mentioned earlier last week they are a waste of time, unless you only need a small amount. Persoanlly i think that the CDL's are a con!
I found HSBC to be excellent very professional and understanding.I presented the whole plan of what i intend on doing in the next two and a half years and they were impressed with the homework i had done on costs etc...
I would highly recommend them!!! If you want any further info then you can email me.
So as of Thursday next week, i finsh my job and its full steam ahead for an frozen ATPL.
I can't f***in wait!!!!!!!!!
I found HSBC to be excellent very professional and understanding.I presented the whole plan of what i intend on doing in the next two and a half years and they were impressed with the homework i had done on costs etc...
I would highly recommend them!!! If you want any further info then you can email me.
So as of Thursday next week, i finsh my job and its full steam ahead for an frozen ATPL.
I can't f***in wait!!!!!!!!!
Joined: Oct 2000
Posts: 10
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Si
If you don't mind me asking, how did you convince them that at the end of your training you would be able to get a job??
I'm not saying you won't but as its not guaranteed I was wondering what sort of insurance HSBC were after. I mean if you've got a degree do they consider this a good enough backup to get other employment, to make the repayments, in case the jet job doesn't materialise straight away??
If you don't mind me asking, how did you convince them that at the end of your training you would be able to get a job??
I'm not saying you won't but as its not guaranteed I was wondering what sort of insurance HSBC were after. I mean if you've got a degree do they consider this a good enough backup to get other employment, to make the repayments, in case the jet job doesn't materialise straight away??
Joined: Apr 2000
Posts: 68
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From: UK
Si,
Well done mate!
Applying to HSBC for a PSL does seem to be something of a lottery - I did exactly the same as Si did - nice presentation folder with all the costings done as well as the "alternates" if the job doesn't come off (and I do this in my current career too)!
They said no - I really do think you need to choose the correct branch.
PFO
Well done mate!
Applying to HSBC for a PSL does seem to be something of a lottery - I did exactly the same as Si did - nice presentation folder with all the costings done as well as the "alternates" if the job doesn't come off (and I do this in my current career too)!
They said no - I really do think you need to choose the correct branch.
PFO
Thread Starter
Joined: Sep 1999
Posts: 95
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From: Yorkshire
Thanks for the comments,
They ask that you take out life insurance and also if the loan is over 15K it needs to be secured which luckily my parents agreed to put the house on the line!! OH SH**!
If you do your homework, and understand fully what, when, wehre and why you want to do it then it shouldn't be to much of a problem. I don't think
Well, as i said earlier, I finish work next thursday, and leave for sunny Florida that weekend for three weeks to do some hour building and also to get my IMC and Night. I return back and two weeks later its time to knuckle down to the ATPL's at OATS full time.Once thats done i am going to Multi Flight in Leeds to do my CPL and FIC, hopefully then will get a job instructing a do that for a year or two and then finsh doing my IR and MCC also at Multi Flight.
I stated all this to the bank that I haven't put all my eggs in one basket and that i will be able to do instructing and then go for the airlines with greater hours and experinece and they seemed to like that!
The good thing is that i don't have to start paying back the loan until March 2004 so I've got quite a long time, because my IR and MCC will bookend my year (hopefully) on instructing, therefore technically I haven't finished the course so do not have to start paying it back until the whole lot is finished.
Thanks again, and see you all in the sky!!!
They ask that you take out life insurance and also if the loan is over 15K it needs to be secured which luckily my parents agreed to put the house on the line!! OH SH**!
If you do your homework, and understand fully what, when, wehre and why you want to do it then it shouldn't be to much of a problem. I don't think
Well, as i said earlier, I finish work next thursday, and leave for sunny Florida that weekend for three weeks to do some hour building and also to get my IMC and Night. I return back and two weeks later its time to knuckle down to the ATPL's at OATS full time.Once thats done i am going to Multi Flight in Leeds to do my CPL and FIC, hopefully then will get a job instructing a do that for a year or two and then finsh doing my IR and MCC also at Multi Flight.
I stated all this to the bank that I haven't put all my eggs in one basket and that i will be able to do instructing and then go for the airlines with greater hours and experinece and they seemed to like that!
The good thing is that i don't have to start paying back the loan until March 2004 so I've got quite a long time, because my IR and MCC will bookend my year (hopefully) on instructing, therefore technically I haven't finished the course so do not have to start paying it back until the whole lot is finished.
Thanks again, and see you all in the sky!!!
Dancing with the devil, going with the flow... it's all a game to me.
Joined: May 2000
Posts: 1,689
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From: England
If a branch turns you down analyse the reasons why carefully. They may be trying to vibe out your commitment and enthusiasm before giving you the money 'just like that'. You may feel you have grounds to question their decision.
I borrowed over £50'000 and I know of guys who borrowed £60k+ so I don't know about limits. A degree, another craft/skill/occupation you could fall back on, security (houses are best but life insurance policies are looked at) will all help you get the money and a sound business plan and the right approach. Show them you're commited and that you'll never give up!
All the best,
VFE.
I borrowed over £50'000 and I know of guys who borrowed £60k+ so I don't know about limits. A degree, another craft/skill/occupation you could fall back on, security (houses are best but life insurance policies are looked at) will all help you get the money and a sound business plan and the right approach. Show them you're commited and that you'll never give up!
All the best,
VFE.
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Posts: n/a
Bubble:-
It seems funny that any HSBC branch would be ignorant about the PSL - I'm sure it's advertised on their website.
Are you sure you asked about the right thing?
Maybe you just got the wrong Doris behind the glass?
Christ my spellin' is bad
[ 22 August 2001: Message edited by: Blackshirt ]
It seems funny that any HSBC branch would be ignorant about the PSL - I'm sure it's advertised on their website.
Are you sure you asked about the right thing?
Maybe you just got the wrong Doris behind the glass?
Christ my spellin' is bad
[ 22 August 2001: Message edited by: Blackshirt ]
Joined: Jan 2001
Posts: 85
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This happened to me about 8 months ago and the manager of my local branch even said that if I had any info to pass it to him because as far as he was aware the loan was only available to postgraduate students studying medicine, law,...and to a maximum of 10K dependant on circunstances. After that I decided that he needed more help than me as I was wasting my time with him, or maybe he needs another job. 
Joined: Apr 2001
Posts: 355
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Well done Si
Watched with interest your information gathering through the various forums here. Your decision making process has indeed been well thought out and open minded…well done, that’s what PPRuNe is all about.
As it happens, you have taken the path that I am now at the end of.
Holding back on the IR at your age, on the modular route is the right decision. You will enjoy instructing and build confidence, hours and flying experience which should make the IR a breeze, nearer to the time to look for an Airline job.
Good luck.
BTW, hold back on some of the hour building till after your ATPL’s and before you start your CPL, you will go rusty very quickly!!!
Watched with interest your information gathering through the various forums here. Your decision making process has indeed been well thought out and open minded…well done, that’s what PPRuNe is all about.
As it happens, you have taken the path that I am now at the end of.
Holding back on the IR at your age, on the modular route is the right decision. You will enjoy instructing and build confidence, hours and flying experience which should make the IR a breeze, nearer to the time to look for an Airline job.
Good luck.
BTW, hold back on some of the hour building till after your ATPL’s and before you start your CPL, you will go rusty very quickly!!!
Thread Starter
Joined: Sep 1999
Posts: 95
Likes: 0
From: Yorkshire
Clear Prop,
Cheers, yes prune has helped tremendously in my decisions over the past few months, I take it you have been instructing then?
Whats the job situation like regarding an instructors job, it is easier to get one of these than an FO position right????
Thanks again to all who have helped, see you on the other side!
Cheers, yes prune has helped tremendously in my decisions over the past few months, I take it you have been instructing then?
Whats the job situation like regarding an instructors job, it is easier to get one of these than an FO position right????
Thanks again to all who have helped, see you on the other side!
