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newrulessuck Junior Member
Joined: 16 Jul 2012 Posts: 17
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Posted: Mon Jul 16, 2012 7:30 pm Post subject: Calculation |
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1) I earn £18,900. I need to make an application for my wife and her child for which I need to be earning £22,400. What is the calculation for working out how much I need to have in savings?
2) How long must the savings be sitting in my account?
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Casa Moderator
Joined: 23 Jul 2008 Posts: 4678
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Posted: Mon Jul 16, 2012 7:36 pm Post subject: |
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| Savings under £16,000 won't be counted. Savings of £16,000 or over must be have been held for a minimum of 6 months. |
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newrulessuck Junior Member
Joined: 16 Jul 2012 Posts: 17
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Posted: Mon Jul 16, 2012 7:39 pm Post subject: |
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| Thanks. So £16,000 is the magic number regardless of how short I fall from meeting the figure of £22,400? |
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Casa Moderator
Joined: 23 Jul 2008 Posts: 4678
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Posted: Mon Jul 16, 2012 7:54 pm Post subject: |
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| Unfortunately, regarding savings, yes. |
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MPH80 Guru
Joined: 11 Oct 2008 Posts: 1004 Location: UK
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Posted: Mon Jul 16, 2012 7:55 pm Post subject: |
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The right formula is
(Shortfall * 2.5) + 16000
So in your case:
(3500 * 2.5) + 16000 = 24,750
And, as has been pointed out, it'll need to have been in your account for 6 months prior to application.
Note that the financial threshold must be met at the 30 month point too - so if you're planning on being a one income household - you'll need the savings again. |
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newrulessuck Junior Member
Joined: 16 Jul 2012 Posts: 17
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Posted: Mon Jul 16, 2012 7:58 pm Post subject: |
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| I get that the 2.5 equates to 30 months/2.5 years yet I thought the new length of time before you could apply for ILR was now 5 years? |
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MPH80 Guru
Joined: 11 Oct 2008 Posts: 1004 Location: UK
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Posted: Mon Jul 16, 2012 8:39 pm Post subject: |
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You're right - but there's a mid point when you have to apply for an extension.
So - it's multiplied by 2.5 for the first period - and then again for the second period (at the time of extension).
So - if your income remains the same - in 2.5 years, you'll need to show the same level of savings again (all things being equal). |
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AcrossBorders Member
Joined: 29 Aug 2011 Posts: 64
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Posted: Mon Jul 16, 2012 8:45 pm Post subject: |
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| Do you pay another fee for the 30month extension? |
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Casa Moderator
Joined: 23 Jul 2008 Posts: 4678
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Posted: Mon Jul 16, 2012 8:50 pm Post subject: |
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Yes, you do.  |
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newrulessuck Junior Member
Joined: 16 Jul 2012 Posts: 17
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Posted: Tue Jul 17, 2012 11:35 am Post subject: |
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| For many reasons I was not able to put in my application before the new rules were made law. I feel like it is the end of the road for my dream to stay in the UK but my lawyer seems confident that the new rules will be challenged and successfully overturned when they come to court. He thinks I should still apply even though I dont meet the new requiremnents and they will win an appeal as the new rules are unlawful. Of course he gains to get the fees I will have to pay but wondered whether other people have been told/feel the same? How long will it take for a 'test' case to come to court? |
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MPH80 Guru
Joined: 11 Oct 2008 Posts: 1004 Location: UK
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Posted: Tue Jul 17, 2012 12:07 pm Post subject: |
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Well - the minimum age took about 2 years to overturn.
My personal opinion is that the income level itself won't be overturned - there has always been one, it's just higher now - but the fact is can discriminate against women who don't work to look after children might be the key leverage point.
M. |
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newrulessuck Junior Member
Joined: 16 Jul 2012 Posts: 17
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Posted: Tue Jul 17, 2012 12:15 pm Post subject: |
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2 years?  |
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MPH80 Guru
Joined: 11 Oct 2008 Posts: 1004 Location: UK
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