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Does the ECO care where I have got my savings from?

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bunnygirl
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Posts: 6
Joined: Tue Aug 23, 2011 9:32 pm

Does the ECO care where I have got my savings from?

Post by bunnygirl » Wed Aug 24, 2011 10:36 pm

My husband and I have been selling some household items, electronics, a vehicle, etc. anticipating our move to the UK. This has boosted our bank account to help pay for our move, living costs, etc. in the UK.

Will the ECO look down upon this if we explain what and why we sold our stuff?

Lucapooka
Respected Guru
Posts: 7616
Joined: Sun Aug 14, 2011 10:30 am
Location: Brasil

Post by Lucapooka » Thu Aug 25, 2011 12:36 am

It depends if this money is vital to your maintenance and without it you would not qualify. If you have an on-going income that supports you then no-one cares about a small amount of savings as you already meet the requirements. But if you only small amount of savings and no income, and this money as been held for a short period, the ECO is entitled to know the provenance of these funds so he may eliminate from his assessment the possibility that this is merely a short term loan from a friend to circumvent the requirements. leaving your without any funds when you pay it back. Savings held over a long period do not have to be explained.

bunnygirl
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Posts: 6
Joined: Tue Aug 23, 2011 9:32 pm

Post by bunnygirl » Thu Aug 25, 2011 12:43 am

Well, this money has only been held for a short term, but it is not from friends. It is our money and we can account for all of it. It is the proceeds of us selling some assets that we would have to get rid of anyways to move to the UK.

My husbands future income in the UK doesn't quite meet the requirements, but we will have this money to carry us over until I find a job in the UK.

Lucapooka
Respected Guru
Posts: 7616
Joined: Sun Aug 14, 2011 10:30 am
Location: Brasil

Post by Lucapooka » Thu Aug 25, 2011 12:43 am

So it's best to explain the source of the money or how it came about.

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