Hi folks. Thank you in advance for reading this post.
My wife (non-EEA) and I (British) intend to move to the UK next year from outside Europe. We have started consolidating our finances so as to meet the financial requirements. We should just about be able to do it using a mixture of savings here and rental income from property in the UK.
I have a few questions that I hope someone can answer, as follows:
1. I have a property under my name in the UK that is rented out. I believe the income from that rent can be counted. However, my wife also has a property under her name in the UK that is rented out. Can that rental income be used in any way? I believe the answer is no. We would not be staying in either of those properties when we move back, btw.
2. We would need to also use savings that are in our bank account here (not in the UK). The savings were not originally in pounds Sterling, but have now been exchanged into pounds (which goes into a foreign currency account at the same bank, still in our name, but with a different account number). After exchanging them, does the clock reset to the beginning of the 6-month period or can we start from when we put them into an account in a currency other than pounds? I believe the answer is that we do not need to reset the clock as long as we can show that the money was under our control that whole time.
3. If we were to move the savings mentioned in (2) into an account that matures after 6 months (we can withdraw the money at any time, albeit with a penalty). Would that be OK? I believe it is.
I'm basing all of my answers on section 7 here: https://www.gov.uk/government/uploads/s ... rement.pdf, so please let me know if that document is not valid.
Thanks again. I really appreciate any and all answers.
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