Submission of personal statements to support loan evidence

[alex87]

Hello everyone

I have read on this forum that many people are submitting their personal bank statements to show the transfer of investment funds.
I held funds in my savings account and the rules of my bank dictate that I transfer the funds to my current account before transfer. Should I send the savings account statements as well as current account statements in this case? A solicitor suggested that I do this but it will just add more paperwork to an already heavy file.

Also, my director's loan agreement made in 2013 only shows the full amount that I intended to transfer, not the instalments. Would it be advisable to redraft it to show the 9 instalments in which finds were transferred?

Thank you in advance.

[zimba]

Hello everyone

I have read on this forum that many people are submitting their personal bank statements to show the transfer of investment funds.
I held funds in my savings account and the rules of my bank dictate that I transfer the funds to my current account before transfer. Should I send the savings account statements as well as current account statements in this case? A solicitor suggested that I do this but it will just add more paperwork to an already heavy file.

Also, my director's loan agreement made in 2013 only shows the full amount that I intended to transfer, not the instalments. Would it be advisable to redraft it to show the 9 instalments in which finds were transferred?

Thank you in advance.

Ignore what people are doing in the forum. You should send the documents as required by the Appendix A of Immigration rules. For Director's loan they want to see your business bank account statements:

paragraph 46-SD(a):

If the applicant has made the investment in the form of a director’s loan, it must be shown both in the relevant set of financial accounts provided, and through readily identifiable transactions in the applicant’s business bank statements, which must clearly show the transfer of this money from the applicant to his business.

https://www.gov.uk/guidance/immigration ... attributes

Also, my director's loan agreement made in 2013 only shows the full amount that I intended to transfer, not the instalments. Would it be advisable to redraft it to show the 9 instalments in which finds were transferred?

This depends on the terms of your loan agreement. You can amend it in such a way that it is allowed to lend the money in instalments.

[alex87]

Thanks, Zimba.
I understand that the HO does not ask for personal statements to show the transfers. However, I was considering sending them because it seems to boost the evidence of investment. In my case though, I might avoid doing so due to the amount first being transferred to the current account from the savings account, and then onwards to the business account in 9 instalments. Submitting 18 statements (9 current and 9 savings) would perhaps be too much.
As for the DL, the original agreement only says that the investment amount of £50,000 will be transferred over a period of three years, although it does not list out any instalments. I will amend the agreement to make this clearer.