Financial requirements help !!!!!just dont get it!!!!
Posted: Mon Jan 14, 2019 9:42 pm
My wife’s previous 2 spouse visas were easy with regards to getting through the financial requirement but this one is much harder and I desperately need some help so I can sleep again.
My wife’s visa runs out on 26th October 2019. She will apply for “ILR” indefinite leave to remain.
Last September I lost my job and basically we have both been studying for new higher paid careers.
We have a 250K, 3 bed house that I paid outright for 4 years ago and we have 13k savings in the bank. We In the real world we are extremely secure but not so secure looking at this VISA financial requirements..
Our 6 month countdown is between this April- October. I had originally planned to re-mortgage the house to put money in the bank for the 6 months but I wont be able to do this because nobody will give a mortgage to somebody that hasn’t worked for 3 -6 months previously. This creates a massive degree of uncertainly and risk for us and I wondered if somebody could look at my new plan that builds in contingency just incase our employment earnings don’t quite get to the required £18,600 threshold.
GIFT and SAVINGS:
My wife/spouse will fly to China to receive 20k as a gift in in a newly created bank account put in her name.. The family member will get her a letter to say it is a gift.
Therefore with my own savings of 13k and his GIFTED cash that will mean we have savings of 33,000k. The 20k gift will be under my spouses name in a CHINESE current account which will have a bank statement within a month submitted.
This is path acceptable and have I figured it out perfectly?
MATHS: This will take it down the threshold down by a total of £6800 so we will now have to earn income of £11,800
RENT a ROOM:
I will have a lodger in our 3 bedroom house who will sign a 1 year rental agreement between this April to April next year. He will pay rent of a total of £600 per month. I believe this is calculated over 12 months therefore 12 months rent would equal £7200 income for the year.
I will get a letter from the “estate agent” to inform say the house is big enough for multiple occupants and that it is a 3 bed house etc. My bank statements will show the income for the last 6 months between April and October and will back up the rental agreement in place.
IS PATH CORRECT? Have I missed anything?
MATHS: So as previously worked out with the 33k gifts and savings that brought the financial requirements down to £11,800. Room rental will bring the requirement down further so we will then have to have a salary of £4600 between April and October to cover the rest?
INCOME THEN NEEDED WILL BE: £4600 gross income needed to be found between April and October ===???
Please can you tell me if the RENT and GIFT/SAVING’s route I have planned in an acceptable path and will work with no come back?
Is our maths correct?
My wife’s visa runs out on 26th October 2019. She will apply for “ILR” indefinite leave to remain.
Last September I lost my job and basically we have both been studying for new higher paid careers.
We have a 250K, 3 bed house that I paid outright for 4 years ago and we have 13k savings in the bank. We In the real world we are extremely secure but not so secure looking at this VISA financial requirements..
Our 6 month countdown is between this April- October. I had originally planned to re-mortgage the house to put money in the bank for the 6 months but I wont be able to do this because nobody will give a mortgage to somebody that hasn’t worked for 3 -6 months previously. This creates a massive degree of uncertainly and risk for us and I wondered if somebody could look at my new plan that builds in contingency just incase our employment earnings don’t quite get to the required £18,600 threshold.
GIFT and SAVINGS:
My wife/spouse will fly to China to receive 20k as a gift in in a newly created bank account put in her name.. The family member will get her a letter to say it is a gift.
Therefore with my own savings of 13k and his GIFTED cash that will mean we have savings of 33,000k. The 20k gift will be under my spouses name in a CHINESE current account which will have a bank statement within a month submitted.
This is path acceptable and have I figured it out perfectly?
MATHS: This will take it down the threshold down by a total of £6800 so we will now have to earn income of £11,800
RENT a ROOM:
I will have a lodger in our 3 bedroom house who will sign a 1 year rental agreement between this April to April next year. He will pay rent of a total of £600 per month. I believe this is calculated over 12 months therefore 12 months rent would equal £7200 income for the year.
I will get a letter from the “estate agent” to inform say the house is big enough for multiple occupants and that it is a 3 bed house etc. My bank statements will show the income for the last 6 months between April and October and will back up the rental agreement in place.
IS PATH CORRECT? Have I missed anything?
MATHS: So as previously worked out with the 33k gifts and savings that brought the financial requirements down to £11,800. Room rental will bring the requirement down further so we will then have to have a salary of £4600 between April and October to cover the rest?
INCOME THEN NEEDED WILL BE: £4600 gross income needed to be found between April and October ===???
Please can you tell me if the RENT and GIFT/SAVING’s route I have planned in an acceptable path and will work with no come back?
Is our maths correct?