£62,500 option

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Old Sep 21st 2017, 4:09 pm
  #1  
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Default £62,500 option

Hello
I am going for the £62,500 option to bring my wife to the UK. I've cashed in my pension as much as I can. My son has gifted me £25000. What documents do I need to show where the money has come from? I specially need advice on the money gifted by my son. Do I need an affidavit?
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Old Sep 22nd 2017, 8:50 am
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Default Re: £62,500 option

How long has those savings been in the account? I think it has to be in the account for around 6 months.
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Old Sep 22nd 2017, 8:56 am
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Default Re: £62,500 option

You need to declare the source of any cash savings you use to meet the financial requirements. If part of the money is a gift from your son then you should declared that and get something in writing from your son explicitly stating that the money is a gift, not a loan, and also stating where we got the money from. A statutory declaration or similar would be advisable. As mentioned these funds will need to be held in your name for at least six months prior to the date of application.
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Old Sep 22nd 2017, 11:44 am
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Default Re: £62,500 option

Thank you for your reply. Am I right in saying that as well as getting a letter from my son saying it's a gift, he also needs to declare where he's got the money from. Is it sufficient just to say where he has got it from? Or does he need to provide evidence?
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Old Sep 25th 2017, 12:03 am
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Default Re: £62,500 option

Originally Posted by Edatefi
Thank you for your reply. Am I right in saying that as well as getting a letter from my son saying it's a gift, he also needs to declare where he's got the money from. Is it sufficient just to say where he has got it from? Or does he need to provide evidence?
That would depend on the source and his circumstances.
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