Type rating loan- Any advice?

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John001
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Location: Limerick, Ireland

Type rating loan- Any advice?

Post by John001 » Sun Apr 15, 2007 8:23 pm

Hi all,

first post on Flying in Ireland so my apologies if this isn't in the appropriate forum. Well here goes :D

I've recently passed an interview and simcheck with an Irish airline and have been offered a position on their type rating course which is a self-sponsoring position.
Would anyone be able to offer any advice as to which finincial institution(s) I might approach reagarding a loan?

I have an account with AIB and the local credit union. However before I approach either of them I'm trying to become a little more informed about what exactly I should be looking for in a loan as well as developing an awareness of the potential caveats which may be associated with the loan process.

I understand that "secured" loans normally have a lower APR than "unsecured", does the rate vary significantly?
There is also the matter of fixed versus variable rate loans.

A colleague of mine had an unpleasant experience with the Credit Union: apparently they increased the rate of interest without informing him. This is the type of thing I'm attempting to pre-emptively avoid.
Awareness is all important and as such I must admit that my knowledge in this area is distinctly lacking.

So if anyone could offer any ideas/advice on this subject I would certainly appreciate hearing from you!

Go raibh m?le maith agaibh! :D

John.




Joey D
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Post by Joey D » Sun Apr 15, 2007 10:04 pm

Hey -

You should check up http://www.ifsra.ie which is the Irish Financial Services Regulatory Authority who give free independent advice on such matters!

For rates here's a cost survey http://www.ifsra.ie/data/cr_costsur_files/Personal%20loans%20cost%20survey%20-%20issue%203.pdf of the different financial institutions although its from October 06 so the rates may have changed, but it should give you an idea.

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