Source of maintenance funds

harakiri · Post by **harakiri** » Wed Jun 04, 2008 6:48 pm

Just to ensure, do we have to show the source of maintenance funds for Tier 1 application? I did not see this mentioned anywhere on the guidance notes.

Thanks.

Post by **push** » Wed Jun 04, 2008 7:53 pm

harakiri wrote:Just to ensure, do we have to show the source of maintenance funds for Tier 1 application? I did not see this mentioned anywhere on the guidance notes.

Thanks.

Its not in the guidance notes however, in some countries the ECO reject applications on the basis that they are not convinced beyond reasonable doubt that you possess the funds rightfully and the funds are going to be available to you in future too. Some applicants borrow money from friends etc. for a short term to claim that they have sufficient funds to maintain themselves in UK - this might have forced the ECO to adopt such a policy.

regards,

push_hsmp

vipul1981 · Post by **vipul1981** » Wed Jun 04, 2008 8:50 pm

what push is saying is correct. when i first applied for my student visa, i was specifically adviced not to transfer any big amounts in/out of account to avoid any suspicion

harakiri · Post by **harakiri** » Fri Jun 06, 2008 6:05 am

Thanks push_hsmp and vipul1981.

I have the history of one of the sources of funds in the form of a statement i.e. the amount is showing in the life insurance company's statement that I have with me from where I have obtained the funds.

In this case will the statement attested by the life insurance company (as e-statement) suffice or is it absolutely necessary to get a letter also to this effect from them?

What I understand from guidance note is that two pieces of evidence is required only in case of previous earnings and for the last 3 months bank statements to prove that maintenance fund is available.

Cheers.

Post by **push** » Fri Jun 06, 2008 6:33 am

harakiri wrote:Thanks push_hsmp and vipul1981.

I have the history of one of the sources of funds in the form of a statement i.e. the amount is showing in the life insurance company's statement that I have with me from where I have obtained the funds.

What I understand from guidance note is that two pieces of evidence is required only in case of previous earnings and for the last 3 months bank statements to prove that maintenance fund is available.

Cheers.

Are the funds available with the life insurance company liquid? as in can you access thatmoney at your will? I really doubt. What kind of a deposit is this?

regards,

push_hsmp

Post by **push** » Fri Jun 06, 2008 6:36 am

additionally, life insurance company is not listed as one of the firms which can provide a supporting evidence. I think it can just be a Bank or a building society.

regards,

push_hsmp

ganeshptrk · Post by **ganeshptrk** » Fri Jun 06, 2008 2:33 pm

Hi,
I sold my property and as a result here was a credit of huge amount into my savings account. Even without this amount, I am able to meet the Maintenance funds requirements. In this case, do I have show a proof for the above credit transaction. If I have to show, giving an explanation in covering letter would be enough or do I have to provide the sale deed agreement also? The reason is , for sale deed agreement, I may have to travel out of station and I worry I maynot have time .

Please advise me on this. I am tesed.

Thanks

Post by **geriatrix** » Fri Jun 06, 2008 4:00 pm

As push_hsmp has clearly explained above, it is entirely your responsibility to convince the ECO beyond reasonable doubt that you possess the funds rightfully and the funds are going to be available to you in future too.

How you go about convincing the ECO is entirely up to you and dependent on your circumstances. All we can say is that it is better to be well- prepared rather than being ill-prepared or not prepared at all.

regards

harakiri · Post by **harakiri** » Fri Jun 06, 2008 4:04 pm

push_hsmp wrote:
harakiri wrote:Thanks push_hsmp and vipul1981.

I have the history of one of the sources of funds in the form of a statement i.e. the amount is showing in the life insurance company's statement that I have with me from where I have obtained the funds.

What I understand from guidance note is that two pieces of evidence is required only in case of previous earnings and for the last 3 months bank statements to prove that maintenance fund is available.

Cheers.
Are the funds available with the life insurance company liquid? as in can you access thatmoney at your will? I really doubt. What kind of a deposit is this?

regards,

push_hsmp

I have already made a partial withdrawal from my policy and the funds are now in my bank a/c. However I agree with sushdmehta.

Cheers people.

Post by **push** » Fri Jun 06, 2008 6:35 pm

harakiri wrote:
I have already made a partial withdrawal from my policy and the funds are now in my bank a/c. However I agree with sushdmehta.

Cheers people.

Oh then there should be no problem. You might however want to attach the LIC statements and additionally mention about the transaction in your cover letter (under maintenance funds section), citing your LIC statements as a proof of inter-account transfer.

Kind regards,

push_hsmp

amit0277 · Post by **amit0277** » Sat Jun 07, 2008 6:09 am

I would appreciate if someone can clear my doubts:

1. Can I show the money deposited in Bank Fixed Deposit?

2. I have an account with HSBC UK. The last deposit was made in Jan 2006. Can can show this money as maintanance fund.

3. I have lended my money to a company in 2006. Now I have taken back that money to show as maintanance fund. What should I mention for the source of this fund.

Please guide.

Thanks
Amit

Post by **push** » Sat Jun 07, 2008 10:36 am

1. Can I show the money deposited in Bank Fixed Deposit?

Search the forum and you will find an appropriate answer to your queries. You might want to look at http://www.immigrationboards.com/viewto ... mat#170777

2. I have an account with HSBC UK. The last deposit was made in Jan 2006. Can can show this money as maintanance fund.

Yes

3. I have lended my money to a company in 2006. Now I have taken back that money to show as maintanance fund. What should I mention for the source of this fund.

Provide letters from the company supporting this transaction - dont know for sure but loan agreement, if any/ credit notes/ letter from the company indicating the repayment etc. should help.

And last but not the least desist from the temptation of making multiple posts. Cluttering the board will not elicit instant reply

amit0277 · Post by **amit0277** » Sat Jun 07, 2008 5:44 pm

Thanks push_hsmp for clarifying my doubts. I am sorry for adding multiple messages...

Post by **push** » Sat Jun 07, 2008 5:53 pm

No worries. I have modified my answer to point 3 above.

ganeshptrk · Post by **ganeshptrk** » Sun Jun 08, 2008 3:03 pm

Hi,
Please clear of my doubt. We have to show 3 months bank statements towards maintenance funds requirements. Is this should be 3 calendar months or 3 months period prior to application date. For example, If I am applying on June 15th, can I show the bank statement for the period 15-Apr to 14-June...? Or it should be from 1st March...?

Thanks
Ganesh

Post by **push** » Sun Jun 08, 2008 6:42 pm

ganeshptrk wrote:Hi,
Please clear of my doubt. We have to show 3 months bank statements towards maintenance funds requirements. Is this should be 3 calendar months or 3 months period prior to application date. For example, If I am applying on June 15th, can I show the bank statement for the period 15-Apr to 14-June...? Or it should be from 1st March...?

Thanks
Ganesh

~3x30 days immediately prior to the applications date.

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Source of maintenance funds

Source of maintenance funds

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