Query re Cat C income for "financial requirement"

[yossarian]

Hello there, I hope someone can help with my query.

I am a British citizen living in Auckland, New Zealand with my family of 3 kiwis (partner + 2 kids) and wishing to return to the UK in early-mid 2014.

I am currently thinking it will be a struggle to secure a job offer from the other end of the world (and suggestions on how to do that are very welcome!) so I am looking to categories C and D to attempt to meet the dreaded “financial requirement”.

Essentially what I am considering doing to generate some Cat C income, is to rent my own house out, and move my family into a separate rental (probably just down the road). Seems a bit ridiculous, but I can’t see any reason why it wouldn’t work?

I’m also interested as to how much of that rental income can be counted towards the financial requirement. Is it only the amounts actually “received” (as seems to be suggested by the rules), or can that amount be annualised? So e.g. if I rent my house for 6 months, can I only count that 6 months of rent, or can I count a full 12? Does it make any difference if I enter into a lease for the following 12 month period to guarantee some income once I arrive in the UK?

A final question. What if I ask my hypothetical tenant to pay the 12 months’ rent in advance (I would obviously give them a discount for this). Could I count all of that income, or only the amount attributable to the relevant 6 month period?

Hope somebody out there can help or point me in the direction of some useful resources.

Thanks!!

Yossarian

[Amber]

Hello there, I hope someone can help with my query.

I am a British citizen living in Auckland, New Zealand with my family of 3 kiwis (partner + 2 kids) and wishing to return to the UK in early-mid 2014.

I am currently thinking it will be a struggle to secure a job offer from the other end of the world (and suggestions on how to do that are very welcome!) so I am looking to categories C and D to attempt to meet the dreaded “financial requirement”.

Essentially what I am considering doing to generate some Cat C income, is to rent my own house out, and move my family into a separate rental (probably just down the road). Seems a bit ridiculous, but I can’t see any reason why it wouldn’t work?

I’m also interested as to how much of that rental income can be counted towards the financial requirement. Is it only the amounts actually “received” (as seems to be suggested by the rules), or can that amount be annualised? So e.g. if I rent my house for 6 months, can I only count that 6 months of rent, or can I count a full 12? Does it make any difference if I enter into a lease for the following 12 month period to guarantee some income once I arrive in the UK?

A final question. What if I ask my hypothetical tenant to pay the 12 months’ rent in advance (I would obviously give them a discount for this). Could I count all of that income, or only the amount attributable to the relevant 6 month period?

Hope somebody out there can help or point me in the direction of some useful resources.

Thanks!!

Yossarian

Are you disabled or in the UK do you have a family member who is disabled and could need help with care? Do you have any savings?

[yossarian]

Hi there, thanks for your reply.
No disabilities.
We are considering combining this Cat C income with some Cat D "savings" (although to be honest it would probably just be money drwan down on our mortgage and deposited into a UK bank account for 6 months!)
cheers

[Amber]

Hi there, thanks for your reply.
No disabilities.
We are considering combining this Cat C income with some Cat D "savings" (although to be honest it would probably just be money drwan down on our mortgage and deposited into a UK bank account for 6 months!)
cheers

Careful with using loans to source savings. Look here http://www.ukba.homeoffice.gov.uk/sitec ... iew=Binary for the guide.