A recent FTA survey, carried out at the Professional Flight Training Exhibition, highlighted finance as the main barrier to prospective pilots, preventing them from making their dream career come true. Over 50% of survey respondents stated that cost is a major factor when considering pilot training. In response, FTA is launching a secured bank loan through TLP; who in turn will process all finance applications and award qualifying loans through a reputable private bank called Shawbrook, which is fully regulated by the FCA (Financial Conduct Authority). The bank loan can be used by students applying for the Integrated Flight Deck Programme or the Economy Integrated Flight Deck Programme, either with or without the Buckinghamshire New University degree option.
“FTA wants prospective students and
With finance through FTA and TLP, typical monthly repayments can be as low as a few hundred pounds, over a potential 5-10 year period, if required. FTA believes that the finance option through TLP makes a commercial pilot career more achievable for students, families and parents, with monthly costs similar to that of putting a child into nursery or buying a high specification car on hire purchase. Parents, relatives and guardians can support students through the new FTA loan scheme, which offers flexibility and early settlement if required, with no early repayment penalties.
The application process is straightforward; applicants need to complete an enquiry form with TLP and book a visit to FTA. FTA also advises prospective students or parents to contact TLP for a detailed loan illustration to meet their particular needs, as there are a variety of products and options available. Loans are available in England, Scotland and Wales and are secured against a residential property in those countries. The loan repayment period is between 5-25 years, depending on the applicant’s age and details of interest rates, loan and early settlement terms are available from TLP. To further assist students and parents, there are no loan arrangement fees and there is nothing to pay up front.
FTA and TLP do state that other forms of finance may also be available and should be carefully considered, including