career development loans

jonesMUFCforever

As I have said banks these days will not accept a guarantor without security. So to answer your question :the bank would ask your father to repay the loan if you defaulted, if it was secured, the security would be realised to get the money back.In the unlikely scenario where they would accept a guarantee without security - the ultimate thing the bank would do is declare your father bankrupt (if he did/could not pay up) and he would probably lose his house anyway.
You could of course be trained as a pilot for free ............................................................................






Just join the RAF!
There's a lovely base just a mile down the road from me here in Anglesey.
Eric

tom_ace

Haha it would be good to join the RAF but I already have 112 hours flight time and have passed all 14 airline pilot exams. Also I have corrected vision which the RAF doesn't accept.

I'm going to try professional studies loan from HSBC.

Thanks everyone who has replied so far.

gibby

cahoot have an interesting online flexable loan


say you want 25k the flexi loan has no time limit and the minimum you have to pay is 5% divided by 12

they charge 6.2% and you only interest pay on the amount you have used - you can pay back more or less than your set amount as log as its 5% or above


as it has no time limit you can keep the paymenst low until you get your job and pay it off quicker.

do check it out and you can ring them for advice before applying

hope it helps


Gibby

tom_ace

Excellent, will have a chat with them.

Thanks

newsmonkey

Recently applied for a Career Development Loan from Barclays, sent off application form and the required documents.

Was then told that downloaded bank statements don't count and I'd have to send paper statements (add another week or so waiting time, and a charge from my bank - although I managed to get this waived eventually).

Then discover my application was rejected. Phoned to query this to discover they couldn't prove my address: I don't pay bills, mortgage, have a driving licence, receive state benefits etc. None of the items on the list except bank statements and passport.

I did, however, send them original bank statements, a letter from my university, front page of Experian credit report with full address, front page of Equifax credit report with full address, NHS medical card, Egg card statement, student loan confirmation from last year. All these had my address on it.

Money laundering prevention gone mad? Or a way of hand-picking loan applicants by putting obstacles in their path?

Am now hoping RBS or Co-operative will be more, ahem, co-operative.

Pennywise

newsmonkey wrote:

Money laundering prevention gone mad?

Yep! The government have put in place ridiculous rules about proving people's identity and that they are not "money laundering" with the prospect of massive fines if the organisation doesn't do it properly. Financial organisations are probably over-reacting and not being flexible enough, but what else can they do? It is worth remembering that they can be fined for not having the right paperwork, regardless of whether the person was money laundering or using a false identity, so it is not possible for them to "use their initiative". This is another one of the Labour Government's offences of not having the right paperwork rather than there actually being a serious offence being committed.

Twopints

Pennywise wrote:

This is another one of the Labour Government's offences of not having the right paperwork rather than there actually being a serious offence being committed.

Nope. Money Laundering regs were introduced in 1994 by the Tory Government of Mr Major. They have been updated since in order to comply with EC directives. Who took us into the EC? - Mr Heath - another Tory, not Labour.

The laws require that the institution has to identify clients but I don't think it defines what is satisfactory evidence - that is down to the individual institution. They then lazily apply their own rules that work for most people and sod the rest.

PS: I agree that the rules are crap but please don't lay it at the door of the Labour government when there are many bigger sticks to hit them with.

sonyalouise

Can anyone suggest ways of ways to come up with about 15k - 20k! My husband is hoping to start retraining as a paramedic - very worthwhile but it nearly 20K drop in salary - as im due to go on maternity leave in December we are going to have to make some severe cut backs. Does anyone know if there is any funding available, grants or loans to people joining the NHS? I know it’s a long shot.

Sonya

dag_2

Not a long shot at all.

I could be wrong on this but I've looked into it a little bit, because I'm thinking of retraining as a radiographer, and starting in 2006.

UK citizens - and possibly citizens of other EU member states too - will get their tuition fees paid for the first Department of Health funded degree course they do - eg nursing or radiography.

Whether or not you've previously done a degree course funded by the Higher Education Funding Council shouldn't make any difference.

You may also get a means-tested NHS bursary of around £6000-ish, and you can apply for student loans too.

Single full time students, and full time student childless couples, are not normally able to get income support, income based jobseeker's allowance, housing benefit or council tax benefit - but I think it might be different if you have children. However, full time students who work over 30 hours a week are able to get working tax credit. I don't know whether or not this applies to placements you do as part of your course, though.

And like I say - I might be wrong on any of this.

mountainofdebt

Another way of looking at the problem is to look at your outgoings (not easy I know when you're about to have a baby) but simply things cam really make the difference.

So look at things like your shoppping bill ....do you buy things just becasue you normally buy them every week and not becasue you need them ( I was a great one for this!)...your telephone bill - have you signed up for 18866 or looked to see if any of the other providers are offering any deals. Are you on the cheapest internet deal you could be on.

Also if you have any debt on interest bearing credit cards have you thought about changing them to 0% interest rate cards, remembering of course never to spend on them and cancelling the old ones?

Also the old style money saving board is a great source of tips to save even more money