ILR application - relevance of bank statements

hi,

i will be applying for my ilr in the next few weeks, since i have completed 4 years on a work permit. i am in a steady job and have been gainfully employed throughout the last 4 years. i bought a house last year, due to which in the last few months, my bank balance has been in an over draft....i believe that should not affect my ilr application, but will be interested in hearing comments.

The main thing is to show that you will not have recourse to public funds. A good job with good salary will eliminate that fear.

It doesn't really matter whether your account is in overdraft.

Your 'Cash flow' is the most important thing the bank statements document.


a financial tip:

If your current account bank balance is continuously in overdraft for 3 or more months, your credit rating may get affected. So its a good idea to keep your account on a +ve balance always. You might want to switch to some cheap 0% creditcards till you settledown.

One more recent experience:

I went to an embassy for applying a schengan visa. The visa officer was pretty hesitant in approving my application seeing a balance of only £60 in my current account statement. His argument was, £60 is not even sufficient for a days life when you are abroad. I tried to convince him by showing him my multiple and colorful creditcards in the wallet but nothing was taken for granted. Fair enough, from their point of view. Finally I had to got out, find a internet cafe, logged in to my internet banking and took a print out of my savings statement and then only the application form was accepted.

The moral is : A +ve and healthy balance in current account does matter, especially when you are an immigrant.