Confused about unencumbered funds
Mar 13th 2009, 3:24 pm
#1
Just Joined
Thread Starter
Joined: Oct 2008
Location: Cheshire
Posts: 4
Confused about unencumbered funds
Hi,
I know there are other discussions about this and this is probably a daft question but I would like some advise before I pay for my medical.
I have been asked to send a personal worth statement. I don't have savings to cover the funds required but I do have plenty of equity in my house, even after paying all bills. It will be sold before I go (I hope with this housing market) so I will have cash when I go. Are they expecting me to remortgage now to free the cash? (I'm still tied in for a few months & it will cost) or is the money in the house acceptable. I already sent valuations with my 90 day letter back in December. I don't want to ruin my application at this stage, its taken 4 years.
Also is it normal for the medicals to be sent straight to London without me seeing them? or is that just the doctor I rang.
Thanks for any advise.
I know there are other discussions about this and this is probably a daft question but I would like some advise before I pay for my medical.
I have been asked to send a personal worth statement. I don't have savings to cover the funds required but I do have plenty of equity in my house, even after paying all bills. It will be sold before I go (I hope with this housing market) so I will have cash when I go. Are they expecting me to remortgage now to free the cash? (I'm still tied in for a few months & it will cost) or is the money in the house acceptable. I already sent valuations with my 90 day letter back in December. I don't want to ruin my application at this stage, its taken 4 years.
Also is it normal for the medicals to be sent straight to London without me seeing them? or is that just the doctor I rang.
Thanks for any advise.
Mar 13th 2009, 4:42 pm
#2
Immigration Consultant
Joined: Jun 2007
Location: Halifax, Nova Scotia
Posts: 2,144
Re: Confused about unencumbered funds
Hi,
I know there are other discussions about this and this is probably a daft question but I would like some advise before I pay for my medical.
I have been asked to send a personal worth statement. I don't have savings to cover the funds required but I do have plenty of equity in my house, even after paying all bills. It will be sold before I go (I hope with this housing market) so I will have cash when I go. Are they expecting me to remortgage now to free the cash? (I'm still tied in for a few months & it will cost) or is the money in the house acceptable. I already sent valuations with my 90 day letter back in December. I don't want to ruin my application at this stage, its taken 4 years.
Also is it normal for the medicals to be sent straight to London without me seeing them? or is that just the doctor I rang.
Thanks for any advise.
I know there are other discussions about this and this is probably a daft question but I would like some advise before I pay for my medical.
I have been asked to send a personal worth statement. I don't have savings to cover the funds required but I do have plenty of equity in my house, even after paying all bills. It will be sold before I go (I hope with this housing market) so I will have cash when I go. Are they expecting me to remortgage now to free the cash? (I'm still tied in for a few months & it will cost) or is the money in the house acceptable. I already sent valuations with my 90 day letter back in December. I don't want to ruin my application at this stage, its taken 4 years.
Also is it normal for the medicals to be sent straight to London without me seeing them? or is that just the doctor I rang.
Thanks for any advise.
Yes, you dont normally get to see your medicals but the doctor owes you an ethical duty to tell you if there is anything to be concerned about.
Mar 13th 2009, 5:21 pm
#3
Lost in BE Cyberspace
Joined: May 2004
Posts: 9,708
Re: Confused about unencumbered funds
Hi
London will accept house valuation for the initial application, but before they will release the COPR they will want to see unencumbered funds. If the OP is going for medicals, s/he will have to show the funds IMHO not home equity.
I assume this is for a federal application and not a PNP application? If so you CHC London will (apparently) normally accept equity in a home as proof of funds - so a house valuation (preferably several valuations so as to avoid it being disputed) along with a Mortage Statement showing what's owing and therefore what equity exists. Other visa offices seem to be more stringent and expect the funds to be in a more liquid form.
Yes, you dont normally get to see your medicals but the doctor owes you an ethical duty to tell you if there is anything to be concerned about.
Yes, you dont normally get to see your medicals but the doctor owes you an ethical duty to tell you if there is anything to be concerned about.
Mar 14th 2009, 9:40 am
#4
mclauchlan35
Joined: Dec 2006
Location: Was Prestwick Ayrshire, now Canmore AB.
Posts: 999
Re: Confused about unencumbered funds
We used equity all through the process right up to getting our visas and COPR, but I understand that you must be able to show funds in liquid form when landing.
Mar 16th 2009, 4:27 pm
#5
Just Joined
Thread Starter
Joined: Oct 2008
Location: Cheshire
Posts: 4
Re: Confused about unencumbered funds
I assume this is for a federal application and not a PNP application? If so you CHC London will (apparently) normally accept equity in a home as proof of funds - so a house valuation (preferably several valuations so as to avoid it being disputed) along with a Mortage Statement showing what's owing and therefore what equity exists. Other visa offices seem to be more stringent and expect the funds to be in a more liquid form.
Yes, you dont normally get to see your medicals but the doctor owes you an ethical duty to tell you if there is anything to be concerned about.
Yes, you dont normally get to see your medicals but the doctor owes you an ethical duty to tell you if there is anything to be concerned about.
Thanks for replies.
I have applied as a skilled worker. I looked on CHC London and couldn't find out if they are still accepting house equity as proof of funds, so I sent an e.mail asking, I will post if I get a reply. Otherwise I think I will just have to carry on with the application and have fingers crossed.
