Savings route question

farhantahir786 · Post by **farhantahir786** » Fri Mar 22, 2019 7:56 pm

Hi There

I was wondering if there will be any questions by the home office/ ECO about having over £62500 in savings and being 28 at the time of application?

Basically, I've saved about 75% of my earnings to date (living with parents helps a lot, and I haven't wasted money on cars and I rarely go out (my life is literally, work, gym, personal study, sport). Was talking to people at work and they have less in savings - so i've been concerned if I'll get a rejection by not spending enough...

I've got a table which basically shows: 1) what i've earned each month (and tax year); savings to date (only field I change); running total of my overall earnings since working (I like to keep a complete record of everything for financial planning and projection purposes). I can provide this table to the Home office. Basically, it shows I've spent on average, £420 a month on myself - I amn't required to pay for rent, bills, etc (parents cover this). My direct debits amount to £117 (I pay zakaat monthly and only have my gym membership, phone bill and netflix as direct debits). The rest is personal spending.

Any guidance will be useful!

Thanks
Farhan

seagul · Post by **seagul** » Fri Mar 22, 2019 8:19 pm

According to your other posts, you are going to meet the financial requirement through employment. In that case HO won't even look on your outgoings. Don't over think.

farhantahir786 · Post by **farhantahir786** » Fri Mar 22, 2019 8:21 pm

Was thinking of meeting via employment but i might just use savings as its a lot easier and less time restrictive (can get bank statements any time).

seagul · Post by **seagul** » Fri Mar 22, 2019 8:26 pm

farhantahir786 wrote: ↑
Fri Mar 22, 2019 8:21 pm
Was thinking of meeting via employment but i might just use savings as its a lot easier and less time restrictive (can get bank statements any time).

For savings too if the required amount of savings doesn't fall during the last 6 months then no issue with your outgoings.

farhantahir786 · Post by **farhantahir786** » Fri Mar 22, 2019 8:34 pm

Perfect - yeah it shouldn't fall below the requirements for the 6 months preceeding (or 7 to play it safe)

Thank you bro!

farhantahir786 · Post by **farhantahir786** » Sun Apr 07, 2019 6:12 pm

Hi All

If i apply under Category D, would it be wise to submit payslips and employment letter also? My lawyer is suggesting we do this, but ive been told conflicting things.

Basically, i will have over 62500 in savings for 6 months before i apply. I also earn over 18.6k pa. Lawyer advised its better to give this information and they will make clear in their letter that I'm relying on Category d and the payslips and employment are extra, should it be needed (and partly explains my savings). I will also be submitting investment reports and share certificates under Category D.

Thanks

adshahmat · Post by **adshahmat** » Sun Apr 07, 2019 7:14 pm

If you have £62,500+ cash savings, held for six months (+), and can demonstrate how you accumulated it, stick with Category D only. What's the point of confusing things? You meet the financial requirement... simple.

We relied on Category D only for both Spouse visa and FLR. It wasn't a problem. In fact, I bet ECOs like the easy, straightforward Category D applications.

If you want to mention a bit about your employment, maybe add a few words in your Letter of Introduction or in the Additional Information box in Appendix 2.

By the way, why are you also submitting investment reports and share certificates?

farhantahir786 · Post by **farhantahir786** » Sun Apr 07, 2019 8:06 pm

Yeah I've decided to go down the savings route. Will have held 62.5k for 6 months when i apply.

Only reason i was attaching share certificates and investment reports is because i sold my investments to reach the required level of savings. Basically my account went from like 2k to 62.5k in 3 months. Wanted to evidence where the funds came from.

adshahmat · Post by **adshahmat** » Mon Apr 08, 2019 7:07 am

https://assets.publishing.service.gov.u ... ext_1_.pdf

Were these investments liquidated into cash at least six months ago?

If not, I assume you're fully aware of paragraphs 7.4.8. (ii), (iii), (iv) and 7.4.9. in the above Appendix. You'll need to evidence the exact value of your investments on the date six months prior to your date of application.

farhantahir786 · Post by **farhantahir786** » Wed Aug 14, 2019 9:11 am

Hi There

i read the guidance and it says 'Personal bank statements showing that at least the level of cash savings relied upon in the application has been held in an account(s) in the names of the person and their partner jointly throughout the period of 6 months prior to the date of application.'

But it also says: 'Where Appendix FM-SE requires the applicant to provide specified evidence relating to a
period which ends with the date of application, that evidence must be dated no earlier than 28 days before the date of application.'

So I would assume I dont need it until the actual date of application. But i saw a post on a FB group where it said that (on a refusal letter): 'The date of your application was 30/11/2018. Therefore the relevant 6 month period you need to evidence cash saving is 30/05/2018 to 30/11/2018.' Does this mean the HO look at the IMMEDIATE 6 months before an application is made? Or is it safe to assume the 28-day rule works? For example, if I was to apply on 02 December, I can use bank statements from 16 May to 15 November (RBS print bank statements early...) or should I get a transaction statement right up to 02 December?

Thanks
Farhan

seagul · Post by **seagul** » Wed Aug 14, 2019 7:32 pm

farhantahir786 wrote: ↑
Wed Aug 14, 2019 9:11 am
Hi There

i read the guidance and it says 'Personal bank statements showing that at least the level of cash savings relied upon in the application has been held in an account(s) in the names of the person and their partner jointly throughout the period of 6 months prior to the date of application.'

But it also says: 'Where Appendix FM-SE requires the applicant to provide specified evidence relating to a
period which ends with the date of application, that evidence must be dated no earlier than 28 days before the date of application.'

So I would assume I dont need it until the actual date of application. But i saw a post on a FB group where it said that (on a refusal letter): 'The date of your application was 30/11/2018. Therefore the relevant 6 month period you need to evidence cash saving is 30/05/2018 to 30/11/2018.' Does this mean the HO look at the IMMEDIATE 6 months before an application is made? Or is it safe to assume the 28-day rule works? For example, if I was to apply on 02 December, I can use bank statements from 16 May to 15 November (RBS print bank statements early...) or should I get a transaction statement right up to 02 December?

Thanks
Farhan

As a precaution a person should keep it 25/26 days than 28 days (if he/she can) to avoid any possibility of miscalculation by caseworker.

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