Spouse Visa Property Sale

Old Jun 16th 2024, 1:44 pm
  #1  
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Default Spouse Visa Property Sale

Hello

My wife and I recently sold our house, jointly owned for 17 years, in Canada and are planning to use the funds from the sale to satisfy the financial requirements for my wife’s uk spouse visa application.

It’s our understanding that as we have owned the house for more than 6 months and the proceeds from the sale are above the minimum savings amount we only have to show that we have the funds available to us in the bank on the day we submit our application.

The spouse visa regulations were updated in April 2024, so could someone please confirm if we are still able to apply as planned or has this method changed?

We are planning to make an offer on a house in the uk soon and are worried we may have to keep the money in the bank for a certain period of time before applying.

Thank you
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Old Jun 16th 2024, 5:00 pm
  #2  
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Default Re: Spouse Visa Property Sale

Originally Posted by Bazcan
Hello

My wife and I recently sold our house, jointly owned for 17 years, in Canada and are planning to use the funds from the sale to satisfy the financial requirements for my wife’s uk spouse visa application.

It’s our understanding that as we have owned the house for more than 6 months and the proceeds from the sale are above the minimum savings amount we only have to show that we have the funds available to us in the bank on the day we submit our application.

The spouse visa regulations were updated in April 2024, so could someone please confirm if we are still able to apply as planned or has this method changed?

We are planning to make an offer on a house in the uk soon and are worried we may have to keep the money in the bank for a certain period of time before applying.

Thank you

You can use the proceeds from the house sale immediately (no need to have them in an account for 6 months)

The changes to the spouse visa from April 2024 were primarily financial - 29K threshold for sponsorship if applying using income; 88,500 GBP if using savings only.

Last edited by SanDiegogirl; Jun 16th 2024 at 5:03 pm.
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Old Jun 17th 2024, 9:42 pm
  #3  
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Default Re: Spouse Visa Property Sale

Thank you for the reply.

We have a lot hinging on being approved financially.

Would love to hear from someone who has successfully used this route for the spouse visa. Selling their home and instantly using the proceeds to apply for a spouse visa.
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Old Jun 18th 2024, 3:34 am
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Default Re: Spouse Visa Property Sale

Details taken from:
https://assets.publishing.service.go...equirement.pdf regarding using monies from sale of property.

Funds held as cash savings by the applicant, their partner or both jointly at the date of application can be from the proceeds of the sale of property within the period of 6 months prior to the date of application, provided that:
• the property was in the form of a dwelling, other building or land
• the property (or relevant share of the property) was owned by the applicant, their partner or both jointly at the beginning of the 6-month period prior to the date of application
• the funds deposited as cash savings are the net proceeds of the sale, once any mortgage or loan secured on the property (or relevant share of the property) has been repaid and once any taxes and professional fees associated with the sale have been paid
• if the ownership of the property was shared with a third party, only the proceeds of the sale of the share of the property owned by the applicant, their partner or both jointly may be counted


Read from page 58 of the above document.

Last edited by SanDiegogirl; Jun 18th 2024 at 3:37 am.
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Old Jun 18th 2024, 4:59 am
  #5  
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Default Re: Spouse Visa Property Sale

Ok, we feel a lot more confident after reading that.

Thank you
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