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Fluctuations in cash savings

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seagul
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Fluctuations in cash savings

Post by seagul » Mon Mar 07, 2016 2:51 pm

Hi,
I have a small query regarding using the cash saving to meet minimum income threshold for sponsoring spouse from abroad. For example of a person is earning less than £18600 but have some cash savings at abroad and UK in access of £16000 but such savings have been fluctuating for the last 6 months but always in excess of £16000 in total then what figure of cash saving is to be used for such calculation?
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batleykhan
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Re: Fluctuations in cash savings

Post by batleykhan » Tue Mar 08, 2016 8:22 am

Its just not £16000 unfortunately.

If you earn say £15000 per annum. You are 3600 short of requirement

3600 x 2.5 = 9000 + 16000 = £25000

You will need £25,000 (NOT JUST 16,000) in saving in your bank for a period no less than 6 months prior to your application FOR IT TO SUCCEED

Hope this helps

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seagul
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Re: Fluctuations in cash savings

Post by seagul » Tue Mar 08, 2016 3:20 pm

Thanks for reply. Yes the savings are in three current accounts and if accumulated then I believe it can even jump the required threshold deficit by using the formula of (saving - £16000/2.5) but the real confusion is that the balance fluctuate everyday due to spending but not much fluctuate then in this case what figure/balance of savings for the last 6 months will be considered either lower/average/higher???
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Casa
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Re: Fluctuations in cash savings

Post by Casa » Tue Mar 08, 2016 3:28 pm

If the balance falls below the required level at any time during the 6 months, the savings will fail to qualify.
(Casa, not CR001)
Please don't send me PMs asking for immigration advice on posts that are on the open forum. If I haven't responded there, it's because I don't have the answer. I'm a moderator, not a legal professional.

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seagul
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Re: Fluctuations in cash savings

Post by seagul » Tue Mar 08, 2016 3:45 pm

It means that lowest figures/balance of previous 6 months will be considered? But is it correct to say that it's allowed that savings can fluctuates instead being frozen, savings can be in 3-4 current accounts instead only in 1 account and saving can be in current account instead only be a special saving account?
The opinion expressed as above is neither a professional advice nor contesting/competing to other member's opinion/advice.

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