shaam

Hi guys

i was filling the appendix 2 and the meeting financial requirement part has me confused, i hope someone can guide me.

If my sponsor has been working for the same employer for 6 months prior to the visa application and earned 17K pa + use 20K to meet the financial requirement then how do i go about this section ? Does she come under Category A or B?

I'd be super grateful for your help!

SanDiegogirl

Cat A.

You also tick Cash savings Cat D

shaam

This way?

shaam

Should i write a cover letter explaining how i met the financial requirement? eg, explain i combine salary + saving

SanDiegogirl

Yes ....

SanDiegogirl

If it needs explanation then do so. However, the income and savings should be self explanatory from payslips, bank statements etc

shaam

Thank you SanDieogirl !!!!!

shaam

What do i state as my annual income if my pay varies according to Overtime and bonus etc ?

BritInParis

If your pay varies enough to make a difference then you should be using Category B. Otherwise you should just state your contracted annual salary.

shaam

6 months Salary is 8,500 which includes some overtime and bonus, do i just multiply that by 2 to get the estimated annual income or they need the basic salary figure which is shown on contract ?

BritInParis

What’s your annual salary as shown on your contract? How much cash savings do you have?

rushie10

Have you used this document to guide you? Click here - It's a necessary evil!
Page 47 and on provide the information regarding cash savings, I found the examples in section 7.2 the most helpful.
Some tips:

1. You must be able to prove that you have held the qualifying savings for at least 6 months in your bank account.
2. Change the currency of your savings to GBP using oanda.com.
3. Determine if you are applying for leave to remain or indefinite leave to remain.
   1. If leave to remain, the amount of savings that qualify and can be used to meet the financial requirement= (cash amount - 16000) divided by 2.5. Example, if you have 20000 GBP cash in savings, the amount you could use= (20000-16000) divided by 2.5= 4000 divided by 2.5= 1600 GBP
   2. If indefinite leave to remain, it's the same as the above but without the dividing by 2.5 bit. Example, 20000-16000=4000 GBP, so you could use 4000 to help you qualify.

shaam

Annual salary on contract 15K + we have 22K saving.

So far during the last 6 months, total salary earned is 8.5K which makes the annual 17k i assume?

SanDiegogirl

Not necessarily. If you have a salaried basic and also overtime and bonuses paid as and when, and you are applying under Cat A, there are two stages to work out your annual salary.

First you take the lowest monthly salaried figure and x by 12.

Then you take your various overtime and bonus payments for the 6 months, add them all up, divide by 6 to get the AVERAGE figure and then x by 12 to get the annual equivalent.

Add the salaried figure for 12 months to the average annual figure, and if they add up to 18,600 GBP or above you can qualify.

e.g basic salaried is 1300 per month x 12 = 15,600 Overtime for 6 months is 300, 400, 200, 100, 300,400 per month = 1,700 divided by 6 = 283.33 to get the average. Multiply by 12 to get the annual equivalent = 339.99.

Add 15,600 and 339.99 = 18,999.99 GBP per annum.

shaam

Thanks a lot for this, i was calculating it completely different!