confusion over financial requirement for spouse visa
Apr 2nd 2018, 2:59 am
#1
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confusion over financial requirement for spouse visa
My husband will be applying for a spouse visa for myself. I am confused about how much money we will be required to have to qualify. We will probably not have employment secured before applying. I understand that you would have to show a employment income over 18,600 pounds. We have money that we have been saving to put as a down payment on a house after we move. Will we be required to meet the 62,400 settlement fee or will it be a different amount? I looked at the documents but they have so many different amounts it's confusing. Sorry if this is a dumb question. Also, will I be able to use my 401K retirement towards the financial requirement? Would I have to cash it out and add it to my bank account for it to be counted? 62,000 pounds is about $87,000 US dollars. That is a lot for us unfortunately.
Apr 2nd 2018, 4:04 am
#2
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Re: confusion over financial requirement for spouse visa
To apply using savings only one needs 62,500 GBP to qualify.
Yes, you would need to cash out your 401. You need to have the monies in an account under your control for 6 months minimum in most cases.
Read the following document carefully regarding the savings route:
https://www.gov.uk/government/upload...ment_Final.pdf
Yes, you would need to cash out your 401. You need to have the monies in an account under your control for 6 months minimum in most cases.
Read the following document carefully regarding the savings route:
https://www.gov.uk/government/upload...ment_Final.pdf
Apr 2nd 2018, 2:42 pm
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Re: confusion over financial requirement for spouse visa
Thanks. We were hoping to move by June 2019 but I don't think we will be able to have that much saved by December to meet the 6 month requirement. I don't understand why there is such a huge difference between the earned income of 18,600 GBP to 62,400 GBP needed in savings which is more than 3x the amount. I understand that they don't want people coming in and taking advantage of the system. It's frustrating that I am penalized as an American. If I was a spouse from the EU I wouldn't need to show any income. It doesn't really make sense. Oh well. I am disappointed that we will probably not be able to move when we were hoping. Can I apply for a travel visa after I put in my application and go with my husband to the UK while we are waiting for approval? We are willing to consider this but it will force us to have to rent rather than buying a house. Thanks.
Apr 2nd 2018, 4:18 pm
#4
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Re: confusion over financial requirement for spouse visa
As the visa you will apply for would give you permission to stay for 2.5 years the figure is calculated by multiplying £18,600 x 2.5 and adding £16,000 giving you the requirement of £62,500.
Apr 2nd 2018, 4:50 pm
#5
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Re: confusion over financial requirement for spouse visa
Thanks. We were hoping to move by June 2019 but I don't think we will be able to have that much saved by December to meet the 6 month requirement. I don't understand why there is such a huge difference between the earned income of 18,600 GBP to 62,400 GBP needed in savings which is more than 3x the amount. I understand that they don't want people coming in and taking advantage of the system. It's frustrating that I am penalized as an American. If I was a spouse from the EU I wouldn't need to show any income. It doesn't really make sense. Oh well. I am disappointed that we will probably not be able to move when we were hoping. Can I apply for a travel visa after I put in my application and go with my husband to the UK while we are waiting for approval? We are willing to consider this but it will force us to have to rent rather than buying a house. Thanks.
Apr 2nd 2018, 5:34 pm
#6
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Re: confusion over financial requirement for spouse visa
Would making an application for Leave to Enter and then already being in the UK when the application is granted not automatically invalidate it?
Apr 2nd 2018, 6:52 pm
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Re: confusion over financial requirement for spouse visa
£16,000 is the threshold for most means-tested benefits so only savings above £16,000 can be considered.
As the visa you will apply for would give you permission to stay for 2.5 years the figure is calculated by multiplying £18,600 x 2.5 and adding £16,000 giving you the requirement of £62,500.
As the visa you will apply for would give you permission to stay for 2.5 years the figure is calculated by multiplying £18,600 x 2.5 and adding £16,000 giving you the requirement of £62,500.
Apr 2nd 2018, 7:10 pm
#8
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Re: confusion over financial requirement for spouse visa
The applicant is not able to obtain benefits while on a visa even with the current financial requirements.
Apr 2nd 2018, 7:51 pm
#9
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Re: confusion over financial requirement for spouse visa
Thanks. We were hoping to move by June 2019 but I don't think we will be able to have that much saved by December to meet the 6 month requirement. I don't understand why there is such a huge difference between the earned income of 18,600 GBP to 62,400 GBP needed in savings which is more than 3x the amount. I understand that they don't want people coming in and taking advantage of the system. It's frustrating that I am penalized as an American. If I was a spouse from the EU I wouldn't need to show any income. It doesn't really make sense. Oh well. I am disappointed that we will probably not be able to move when we were hoping. Can I apply for a travel visa after I put in my application and go with my husband to the UK while we are waiting for approval? We are willing to consider this but it will force us to have to rent rather than buying a house. Thanks.
EU rules are specific and particular to the EU countries.
Apr 2nd 2018, 8:37 pm
#10
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Re: confusion over financial requirement for spouse visa
I would not want to do anything to jeopardize my chances of getting the visa approved. We were trying not to have to extend our lease on our apartment as the rent increases substantially for a short term lease (anything less than 12 months). I may have to be patient and wait it out.
Apr 2nd 2018, 8:48 pm
#11
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Re: confusion over financial requirement for spouse visa
Yes I understand there are other people from other countries In the same boat. I did not mean it the way it sounded. Just frustrating. I have no intention of talking advantage of the government system. I have never relied on anything from the government here and I have fully supported myself since I was 18 and i intend find employment and support myself In the UK. I get that people don't want immigrants to move In and take from a system that you all have worked hard to contribute to.
Apr 2nd 2018, 8:48 pm
#12
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Re: confusion over financial requirement for spouse visa
Apr 2nd 2018, 8:50 pm
#13
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Re: confusion over financial requirement for spouse visa
Jul 31st 2018, 5:11 pm
#14
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Re: confusion over financial requirement for spouse visa
To apply using savings only one needs 62,500 GBP to qualify.
Yes, you would need to cash out your 401. You need to have the monies in an account under your control for 6 months minimum in most cases.
Read the following document carefully regarding the savings route:
https://www.gov.uk/government/upload...ment_Final.pdf
Yes, you would need to cash out your 401. You need to have the monies in an account under your control for 6 months minimum in most cases.
Read the following document carefully regarding the savings route:
https://www.gov.uk/government/upload...ment_Final.pdf
My understanding is you do not have to cash out the 401k, so long as you can show you have control of it.
2. InvestmentIf you are relying on cash savings via an investment, you must show that:· You have owned the shares for a period of 6 months prior to the date of your application. · The value of your investment is equivalent to the necessary cash savings required. The investment can be in the form of stocks, shares, trust funds or a bond.
Also: This was the original wording: 7.4.4. For example, in the UK a ‘stocks and shares’ Individual Savings Account (ISA) does meet
the definition of a savings account and the funds can be considered as cash savings if all the requirements above are met. Likewise, a pension savings account from which savings can be immediately withdrawn (like the 401K in the US).
I'd be curious to hear from anyone who has actually used their 401ks for the savings route. Hubby and I are considering it. Unfortunately, from my understanding, 401ks cannot be put into a cash account, however, you just have to provide proof that you can withdraw the funds immediately.
Also: This was the original wording: 7.4.4. For example, in the UK a ‘stocks and shares’ Individual Savings Account (ISA) does meet
the definition of a savings account and the funds can be considered as cash savings if all the requirements above are met. Likewise, a pension savings account from which savings can be immediately withdrawn (like the 401K in the US).
I'd be curious to hear from anyone who has actually used their 401ks for the savings route. Hubby and I are considering it. Unfortunately, from my understanding, 401ks cannot be put into a cash account, however, you just have to provide proof that you can withdraw the funds immediately.
Last edited by RPorter; Jul 31st 2018 at 5:14 pm. Reason: something odd added to text
