Noorah101

Sorry, just read through the entire thread again and realized I asked questions that have already been answered.

I would say Air B&B isn't a stable enough income to be used as such. It might remain unrented for some time. It's not a steady income that can be proven by showing a lease.

Is there no one in the USA who could be a joint sponsor?

Rene

theroon

Just to be clear, she has about £300,000 equity in the flat. So that counts as an asset and is enough to cover us both. Does she need to show she plans on selling it after we move to the US? We had it valued recently so can show that, plus her mortgage details. Is there anything else we need to do?

Thanks very much in advance

Noorah101

If she's going to sell it, then it can be used as an asset. You'd need the property sale value in writing, plus paperwork to prove the equity.

If she's going to rent it out, it can't be used as an asset because: 1) The rental money is considered income, and 2) you can't kick renters out if you need the asset money.

Assets must liquidable within 1 year.

I thought you mentioned renting it as Air B&B. I didn't realize it would be sold.

Rene

theroon

Thanks, Rene. We decided against the air b&b. I think we will rent it, but that won't be until after we've moved. I just don't understand what we need to present to or tell the embassy at the interview and how to complete the form. Am I overcomplicating this? So we should say we are going to sell it?

Noorah101

You should say whatever the truth is, and paperwork to prove the dollar figures needed.

Rene

theroon

Ok. So if I have my interview in February we just have to show the mortgage details and a recent evaluation? We can use it as an asset and therefore meet the financial requirements?

Noorah101

As I said, assets need to be able to be liquidated within one year. If you use the equity as an asset, then you decide to rent it, how can the property be liquidated when renters are living there?

Rene

theroon

Perfect, thank you. So we won't rent it and use it as an asset to meet the financial requirements.

SanDiegogirl

Just asking a question here:

To apply for a UK spouse visa one cannot use the valuation equity value of a property as proof of assets. In other words you have to sell the property, and whatever is left after mortgage payments, costs etc, can then be used as assets to qualify under the financial requirements. This is so you have the necessary cash to support yourself and the applicant(s)

To apply for a US spouse visa it would appear that the valuation equity value of a property can be used to qualify under the financial requirements. i.e you do not have to sell the property but just be able to show the difference between what you owe and what the property is valued at.

Is this correct?

Is this correct

Noorah101

Yes, that's correct.

Rene

theroon

Hi there, thanks for replying. Wow, that's quite a difference!

Rete

Think about what you need to prove the worth of the property. A real estate appraisal, perhaps? Listing it with an agent and the price it will be selling for? A copy of the mortgage and what is still owed on the property? It simply comes down to value minus debt = asset.