CTC Aviation has announced that a new financial solution is now available for those seeking to fund their CTC WINGS Integrated ATPL or MPL airline pilot career programme training.
‘Proflight’ loans, provided by Secure Trust Bank, a retail and commercial bank based in the United Kingdom, are a secured loan product now available through ATPL Finance Ltd.
The new loan offers aspiring pilots secured funding for loan amounts ranging from £25,001 to £125,000, providing the potential to fund airline pilot career training, and also type-rating training should such funding be required once CTC Aviation has secured airline placement for the successful graduate pilot.
The loan provides a two-year repayment holiday, which means that aspiring pilots can complete their training, secure a position as a co-pilot and start earning a salary before they need to make any repayments.
As far as the receiving a decision in principle, CTC Aviation says that cadets can expect one within 48 hours and full confirmation within approximately 6 weeks. The loans must be guaranteed by a parent or equivalent legal guardian and are secured by a second charge over the guarantor’s property which must be in England or Wales.
It should be noted that all ‘Proflight’ loan applications to Secure Trust Bank, will need to be fully assessed and meet the bank’s lending criteria.
Applicants to CTC Aviation looking to secure funding to support their training now have the option to apply for a range of both secured and unsecured loans from several banks, designed to suit a range of circumstances and routes to the flight deck.
Jeremy Dawson, MD of ATPL Finance, added, “The Proflight Loan is a unique offering to enter the market to help fund aspiring professional pilots attain their qualifications and was designed by pilots for pilots! Working with Secure Trust Bank, who’s executive also include pilots, we have managed to design and offer a product that provides a completely tailored solution to deal with the challenges that arise during and after flight training.”