ILR Question

[Kavi]

Hi All

I am applying for ILR very soon based on 4 yrs WP route and I need some advice on the following questions. Can someone out there help me on this please.

1. How much money is required to show as bank balance and how many months bank statements should be submitted along with the application?.

[b]I am currently running on over draft and thinking of taking a loan to make up the bank balance. please advice me on this.[/b]

2.Would the over draft thing affect my ILR application?.

Please advice me what would be good to do now in this situation.

Thanks

Kavitha

[bhavna]

hi kavitha,
it is required to submit bank statements for last three months.
Cheers

[Kavi]

anyone experienced a simillar situation please share your experience and advice me on this please.

Thanks
Kavi

[Kayalami]

1. How much money is required to show as bank balance and how many months bank statements should be submitted along with the application?.

There is no stated amount by the Home Office but it should be enough to prove that you can maintain yourself and any dependents without recourse to public funds. We've seen quotes of 2,000 - 9,000 GBP from posters in both the new and old forums. Based on anectodal evidence I would IMHO say a ballpark figure of 2,000 GBP for the principal applicant and 1,000 GBP for each dependent would be o.k. 3 months of bank statements in the period leading to the application date is the minimum requirement - 6 months would be better though.

I am currently running on over draft and thinking of taking a loan to make up the bank balance. please advice me on this.


2.Would the over draft thing affect my ILR application?.

It would be better to be in credit on your bank statements which a loan would facilitate. Expect the caseworker to query any large influxes of money into your account. IMHO the fact that the money is still 'technically' yours as opposed to say a friends would likely negate any concerns. Note that you can also submit payslips in lieu of bank statements - however given the challenges of revoking the grant of ILR the caseworker may want to ensure that you meet all the requirements of the immigration rules and can insist on both payslips and bank statements. I am not sure about your accomodation position but being a home owner for example would be of benefit and tilt things in your favour.

Good Luck

[Chess]

Guyz,

I think you can technically get ILR whilst running an Overdraft.

The issue here is that you need to demonstrate that you have a steady income and will continue to have an income in the future - therefore you wont resort to public funds.

FYI, I remember i did renew my visa as student in 1996 and I showed a bank statement with an OD of £750...

Dont forget that the rules required that I showed that I have sufficinet funds to cater for my studies and upkeep which was about £12K per year (1996 prices).

It would help if you were in credit however having an overdraft should not be a major hindrance. On the other hand a sudden £6K appearing on your Bank Statement just before you renew your Visa will raise questions with the caseworker.


The same also applies to Entry Clearance.

A freind of mine got a student visa without any problems using his Dad's account which was heavily overdrawn - except the account showed continuos cah flow....

...whereas another mate of mine who had been a stuident in the UK was denied a Visa to attend his graduation with his Dad because they showed an account which had been overdrawn for a long time and then there was a sudden massive credit prior to applying for the Visa


So moral of my stories is that the OVERDRAFT is not a problem...............in any case all guyz in the UK more or less live on credit cards and overdrafts

[Kavi]

thanks to kayalami and chess for your kind reply.

my actual situation is I am 4K over drawn now and been in over draft for the last few months . I am thinking of borrowing money from bank(personal loan) to bring up the account to credit.

If I wait for one month after taking a personal loan and then apply for ILR, will that be ok?.

To add to this my monthly salary is credited to this account and I am having a constant fund flow into this account.

thanks
Kavitha

[Kayalami]

Kavitha,

As per comments by Chess, Home Office would be looking at a steady income which you appear to have so I wouldn't worry too much about the overdraft. As per my initial post it would IMHO be better if you got the loan to credit your account - they tend to be at a cheaper interest than OD's. No need to delay ILR application - go ahead as planned.

Good luck.