Under Appendix FM of the UK Immigration Rules, applicants can meet the financial requirement for a UK Spouse Visa through cash savings, either independently or in combination with other income sources. This option provides flexibility, especially for those unable to meet the minimum income threshold solely through employment or self-employment income. In this post, we outline how to meet the financial requirement solely through cash savings for a Spouse Visa application for leave to enter or remain in the UK.
What level of cash savings do I need?
The UK Spouse Visa financial requirements have undergone notable changes as of April 2024, with the minimum income threshold rising from £18,600 to £29,000 per year, affecting cash savings requirements as well.
For applicants who are making their first application under Appendix FM of the partner route after 11 April 2024, or who are applying for leave to remain with a new partner, they will need to meet the £29,000 threshold. Where no other income is demonstrated, the required cash savings to meet this income threshold are £88,500. At the settlement stage, this requirement reduces to £44,000. This threshold remains the same regardless of the number of dependent children.
For applicants who have successfully applied as a partner on the five-year route to settlement, or as a fiancè or fiancée or proposed civil partner before 11 April 2024 and are now applying for permission to stay with the same partner for which they were previously granted permission, they will need to meet the £18,600 threshold. In this case, they will need to demonstrate £62,500 without any dependants. The amount required at the settlement stage is £34,600. As this threshold rises with each child dependent, the cash savings will rise accordingly.
To discuss your Spouse Visa Application with our professional immigration team, call us on +44 208 757 5751 or use our contact form.
Cash Savings Requirements
Savings must be held in cash within a personal bank or savings account under the name of the applicant, their partner, or both jointly. These funds may originate from any legal source, including gifts from family members or other third parties, as long as the source is declared.
The applicant and/or their partner must confirm that the savings are under their control, have not been borrowed, and provide evidence that the funds have been held in their account for at least six months before the application date.
These are the requirements that must be met:
- the bank/savings account is a current, deposit or investment account
- the account is held is a financial institution regulated by the appropriate regulatory body for the country in which that institution is operating
- regular bank statements are provided
- the statements cover the necessary period required in the Immigration Rules
- the savings are held in cash (or their cash value is clear)
- the savings can be immediately withdrawn (with or without penalty)
- the funds are under the control of the person and/or their partner for the necessary period required in the Immigration Rules
- the source of the funds is legal
- the source of the funds has been declared
Cash Savings Documentary Evidence
Applicants must provide clear evidence of their cash savings:
- Bank statements: Official statements showing the minimum balance over the required six-month period that you intend to rely on.
- Declaration of the source of savings: Explanation of the origin of the savings by the applicant and/or partner.
Failure to sufficiently demonstrate that the financial requirement is satisfied is one of the most common reasons for refusals. Applicants must ensure that their financial evidence is accurate, complete, and submitted according to the relevant Immigration Rules.
How We Can Help
Navigating the UK Spouse Visa application process can be challenging. Consulting with an experienced immigration adviser can help ensure your application is prepared accurately. Legal professionals can guide you in meeting the financial requirements, compiling necessary documentation, and addressing potential issues.
For expert advice, contact our team at +44208 757 5751 or use our contact form.
Frequently Asked Questions
Appendix FM specifies that the amount of cash savings above £16,000 must be divided by 2.5 (to reflect the duration of leave in years) to determine the usable amount. For example, to meet the minimum income requirement of £29,000 solely through case savings: over 2.5 years, this amounts to £72,500. Adding the base amount of £16,000 gives a total of £88,500.
The savings need to be held by the applicant, their partner or jointly by the applicant and their partner.
Yes, foreign currency savings will be converted to pounds sterling using the exchange rate from oanda.com on the application date. Fluctuations prior to this date are disregarded.
Savings must be held for at least six months before the application date.
Yes, rental income can be combined with savings to meet the requirement. Both sources of income must be documented and verifiable.
Applicants already within the 5-year partner, fiancée, or proposed civil partner routes, applying for an extension with the same partner after 11 April 2024, benefit from transitional arrangements. They must meet the lower threshold of £18,600 plus an additional amount of £3,400 for the first child and £2,400 for each subsequent child.
