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Question about sale of property in relation to Financial req

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Case
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Question about sale of property in relation to Financial req

Post by Case » Thu Feb 28, 2013 3:05 pm

Hello Everyone,
My husband is Scottish and I'm a US citizen. We've been together for about a year and a half now and we decided to get married in the US two weeks ago so that I can work here, save up my money, and apply for a spouse visa to Scotland.
My husband is a musician and I'm a recent college graduate. We don't have much money at all. However, he does have a cottage he was planning on selling anyway and now he's going to. It will bring in well over the required 18,600 pounds. My question is, does that money have to sit in his account for 6 months before I can apply for the visa? There was a paragraph in the FM-7 (or whatever it's called) appendix on the UK border site that seemed to say that sale of property would be counted toward cash savings and only the account had to have been open for 6 months. Is this the case or are we just reading it with hopeful eyes?
Thank you so much for any help.

ID29
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Location: North West, UK

Re: Question about sale of property in relation to Financial

Post by ID29 » Thu Feb 28, 2013 5:39 pm

Case wrote:... It will bring in well over the required 18,600 pounds.
The figure you quoted is income/earnings per year. If instead you're relying on savings (or proceeds of a sale) the amount required will be very much higher than this.

If your husband has no income, he will need to show savings of £62,500. If he has some income he will be able to reduce the savings proportionally.

The savings/income formula is displayed on the table in section 7.2 of the advice document you referred to above.

To answer your question; the savings must have been held by you and/or your partner for at least 6 months prior to your application.

Case
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Post by Case » Mon Mar 04, 2013 5:18 pm

Thank you so much, that's wicked helpful. One last thing to clarify... I'm now looking at staying in the US and working very hard all summer to earn the US equivalent of 7,000 pounds. As my husband makes about 12,000 a year that will bump us up to the required 18,600 pounds. Is this a sound plan? Are their gaps in it I can't see that they would get us for? I really want my application to make it through the first time. They do look at both income when looking to see if you meet the financial requirements, correct?
Thank you again!

Case
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Post by Case » Mon Mar 04, 2013 5:20 pm

*there
*both incomes

Jeez, I need to proofread more thoroughly.

Case
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Post by Case » Mon Mar 04, 2013 6:11 pm

PS. I realize that it seems to say yes, both incomes will count for example, right here in the last bullet:

5.1.2. If necessary to meet the level of the financial requirement applicable to the application, the
applicant can add to this:
• The gross amount of any specified non-employment income received by the
applicant’s partner, the applicant or both jointly in the 12 months prior to the
application, provided they continue to own any asset on which that income was
based (e.g. property, shares) at the date of application;
• An amount based on the cash savings above £16,000 held by the applicant’s
partner, the applicant or both jointly for at least the 6 months prior to the application
and under their control. At the entry clearance/initial leave to remain stage and the
further leave stage, the amount above £16,000 must be divided by 2.5 (to reflect the
2.5 year or 30-month period before the applicant will have to make a further
application) to give the amount which can be added to income. At the indefinite leave
to remain stage, the whole of the amount above £16,000 can be added to income;
and/or
• The gross annual income received by the applicant’s partner or the applicant from
any State (UK or foreign) or private pension.

But after reading all this stuff for so long and losing track of which paragraphs go with which section I just want this confirmed to be extra safe.
Thanks!

Greenie
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Post by Greenie » Mon Mar 04, 2013 6:34 pm

You can't rely on your employment income as the applicant unless you were already in the UK legally working.

Case
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Post by Case » Mon Mar 04, 2013 6:38 pm

Even despite this?

"If necessary to meet the level of the financial requirement applicable to the application, the
applicant can add to this:

...

The gross annual income received by the applicant’s partner or the applicant from
any State (UK or foreign) or private pension."

Sorry for requestioning, I just want to make absolutely sure...

Greenie
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Post by Greenie » Mon Mar 04, 2013 6:53 pm

Well, the passage you have quoted is talking about income from a pension, not employment.

Case
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Post by Case » Mon Mar 04, 2013 6:56 pm

Bother, you're absolutely right I was reading it wrong. Thank you!

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