zizi

Hello All!

I am embarking on this strenuous process and everything just seems so complicated!

I do have a question, if I can rack your brains it would be greatly appreciated!!

As a brief background - our source of savings actually is located overseas at the moment in China. My Husband initially transferred funds to my mother as she was in urgent need of money. This was used as a short-term loan and my mother subsequently repaid us the money in four tranches into an account I have in China. The funds have now sat in that account for over a year.

The issue I have however, is declaration of funds. I am not sure what information I need to include - we can easily show that we transferred funds overseas and that my mother received the funds into her account. However, the funds she used to repay us back comes from various relatives (i.e. they withdrew money and gave my mother cash payments). Hence, my mother deposited cash into my account. Without having to go back to each relative to get bank statements and letters etc, is it suffice to have a letter from my mother confirming she received the funds on XX date and subsequently paid it back to us on XX date? I am hoping this is the case, especially since the source of funds come from ourselves... and I do not want to go to the nth degree by getting loads of statements and letters.. which will prolong the whole process.

Hopefully my above post makes sense! Thank you for the help in advance!

englishguygoinghome

I'd declare the original source of the savings as long as the last repayment was over 6 months ago you won't have to submit any statements later than that, if not then I would add a statement explaining that you lent them to your mother on date x and she made 4 repayments on the dates listed and include statements from the 6 months prior to making the loan onwards, just to be sure.

zizi

Thanks for the reply!

Yeah the last repayment has been well over a year ago now - I can even show from our local statements when my husband transferred over the money to China, etc.

My mother has also got bank statements to prove that she received those funds. I have also obtained a bank letter to comment that I have held these funds for over a year now. I wasn't sure whether I need to even include my mother's bank statements or is a statement in the form of a letter already suffice to say that she received the funds and paid them back.

With reference to your comment, can I just confirm, do you mean six months statement to prove the build-up of the funds prior to my husband transferring the money overseas? These statements would probably be over two years old!

Thanks again for your help.

englishguygoinghome

You only need to provide the past 6 months of statements (prior to the application) and a written explanation of the source of the funds. You don't need statements going back longer than that, so the fact you loaned it to you mother and she has repaid is irrelevant)