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Hi thanks for your message.Casa wrote:Only savings over £16,000 will be considered to make up any shortfall in earnings.These must have been held in an accessible account for a minimum of 6 months.
Casa wrote:I'll try and help you but the calculation is fairly complex, so I'll leave it open for others to confirm or disagree. By my reckoning:
The first £16,000 of savings are discounted. Therefore a shortfall of £3,500 x 2.5 year extension would require a further £8,700 of savings if you only have an annual income of £15,000