ILR Rental income

[Sham96]

First time post. With regards to an application for ILR Set(M) some points that i want clarifying if using rental income from a property in support of adequate maintenance requirement.

Looking through Annex FM Section FM 1.7, for proof of rental income it says that they require personal bank statements for the 12-month period prior to the date of application showing the rental income was paid into an account in the name of the person or of the person and their partner jointly. Does that mean that they only accept rental income from a property that has been let out for 12 months or more and not from a recently let property?


What is the standing regarding the mortgage on a let property? Does it have to be a buy-to-let mortgage? Would a property on a residential mortgage with a consent to let agreement be acceptable or even without one?


Thanks

[Amber]

First time post. With regards to an application for ILR Set(M) some points that i want clarifying if using rental income from a property in support of adequate maintenance requirement.

Looking through Annex FM Section FM 1.7, for proof of rental income it says that they require personal bank statements for the 12-month period prior to the date of application showing the rental income was paid into an account in the name of the person or of the person and their partner jointly. Does that mean that they only accept rental income from a property that has been let out for 12 months or more and not from a recently let property?


What is the standing regarding the mortgage on a let property? Does it have to be a buy-to-let mortgage? Would a property on a residential mortgage with a consent to let agreement be acceptable or even without one?


Thanks

Do you mean SET(m) following 2 years flr(m) as in applying for ILR? If so, then you'll be under the old financial rules and you just need to have adequate maintenance, for finances that's 3 months bank statements showing the income,

[Sham96]

Yes,after 2 years on spouse visa and then applying for ILR under old rules, assuming the rental income contributes significantly to maintenance

[Amber]

Yes,after 2 years on spouse visa and then applying for ILR under old rules, assuming the rental income contributes significantly to maintenance

Then just 3 months banks statements showing the income. How much profit do you make per week on the rentals?

[Sham96]

About £400 pcm , which alone i guess would not be enough to satisfy maintenance for a couple.

[Amber]

About £400 pcm , which alone i guess would not be enough to satisfy maintenance for a couple.

What other income/savings have you both got?

[batleykhan]

The Income support rate is what you would need to live on as a couple (£112.55 per week.) if and when you apply for ILR