info on Banks statements

[sk1989]

Ok I am very clear on loans, how it does not effect your application if you have any loans, but can someone tell me what they look for in my bank statements?

Is it the money going in from my employer at the end of every month or do they look for more?

I am concerned about this because I have loan repayments every month and i pay my other bills including my mobile bills and etc

Does this have any effect at all? are there any tips I can use?

thanks and looking forward for a sweet reply

[transpondia-2011]

They want to see your GROSS ANNUAL INCOME is over the hurdle.

If you cannot substantiate your gross, they will use deposits from your bank statements as the gross figure.

And remember that bank statements must be translated if they are not in English. Each page.

[sk1989]

They want to see your GROSS ANNUAL INCOME is over the hurdle.

If you cannot substantiate your gross, they will use deposits from your bank statements as the gross figure.

And remember that bank statements must be translated if they are not in English. Each page.

can you please expain that to me in simple language, sorry about that.

Can any one tell me about the loan repayments etc deducted from my accout have any effect.

[transpondia-2011]

They want to see your GROSS ANNUAL INCOME is over the hurdle.

If you cannot substantiate your gross, they will use deposits from your bank statements as the gross figure.

And remember that bank statements must be translated if they are not in English. Each page.

can you please expain that to me in simple language, sorry about that.

GROSS ANNUAL INCOME

GROSS means the total amount of money before taxes or other deductions are made

ANNUAL means a period of 12 months, synonym of YEAR

INCOME means money that somebody gets from working or investing

[sk1989]

I totally understand that mate, my question was actually related to loan repayments and etc

[batleykhan]

They want to see your GROSS ANNUAL INCOME is over the hurdle.

If you cannot substantiate your gross, they will use deposits from your bank statements as the gross figure.

And remember that bank statements must be translated if they are not in English. Each page.

What has OP's bank statement got to to what his gross income is?. The ECO can find out what OP gross income is from the P60 /wage slips he should have provided.

The bank statements aim are so that the ECO can satisfy himeslef what your regular deposits are and what expenses are going out every month. From this he can deduce what you have left over and whether that amount will be sufficient to support you and your spouse and any children without resorting to claim benefits.If you can show that you save money regularly,that is good, but if you keeping going into debt or overdraft, that means your income will not be able to support you both and is a good enough reason for the ECO to refuse the application.

Also why would he want to translate the pages into English,all British bank statements are in English,aren't they?.

If I have misunderstood this and OP is an Indian citizen and is the applicant instead of teh sponsor, then he is under no obligation to provide any bank statements as part of teh application as its teh sponsors duty to provide these.

[transpondia-2011]

The bank statements aim are so that the ECO can satisfy himeslef what your regular deposits are and what expenses are going out every month. From this he can deduce what you have left over and whether that amount will be sufficient to support you and your spouse and any children without resorting to claim benefits.If you can show that you save money regularly,that is good, but if you keeping going into debt or overdraft, that means your income will not be able to support you both and is a good enough reason for the ECO to refuse the application.

This is so breath-takingly wrong. Did you even read the material? Let's look at the SOI...

The Government is not looking to draw up a personal financial balance sheet for each sponsor (outgoings, credit card and other debts, mortgage, etc), but taking £18,600 as a benchmark for financial stability and independence on the part of the sponsor or the couple. We recognise that their circumstances may change over time, so they will be reassessed when the applicant applies for further leave to remain and for indefinite leave to remain (settlement).

Eligibility is established by the direct OPPOSITE of what you wrote. They take the hurdle amount IRRESPECTIVE of commitments and outflows. I doubt you can reconcile your posting vis-a-vis the SOI, Appendix FM, or Annex FM; in fact I would be surprised if you knew the differences...

[sk1989]

The bank statements aim are so that the ECO can satisfy himeslef what your regular deposits are and what expenses are going out every month. From this he can deduce what you have left over and whether that amount will be sufficient to support you and your spouse and any children without resorting to claim benefits.If you can show that you save money regularly,that is good, but if you keeping going into debt or overdraft, that means your income will not be able to support you both and is a good enough reason for the ECO to refuse the application.

This is so breath-takingly wrong. Did you even read the material? Let's look at the SOI...

The Government is not looking to draw up a personal financial balance sheet for each sponsor (outgoings, credit card and other debts, mortgage, etc), but taking £18,600 as a benchmark for financial stability and independence on the part of the sponsor or the couple. We recognise that their circumstances may change over time, so they will be reassessed when the applicant applies for further leave to remain and for indefinite leave to remain (settlement).

Eligibility is established by the direct OPPOSITE of what you wrote. They take the hurdle amount IRRESPECTIVE of commitments and outflows. I doubt you can reconcile your posting vis-a-vis the SOI, Appendix FM, or Annex FM; in fact I would be surprised if you knew the differences...

So I am getting 2 different answers to my question, which one is right we are still confused...

[Franko]

Out goings no longer matter, simply that you meet the basic income requirement. You could be debtted upto the eyeballs and it no longer matters if your income meets the threshold.

[Franko]

Out goings no longer matter, simply that you meet the basic income requirement. You could be debtted upto the eyeballs and it no longer matters if your income meets the threshold.

And the reason for this is that you cannot get benefits on the back of not having enough left over every month due to your debts, but you can get benefits on the back of having a low income. The ECO doesnt care about you standard of living just simply that you wont burden th tax payer. Simples

[transpondia-2011]

What has OP's bank statement got to to what his gross income is?. The ECO can find out what OP gross income is from the P60 /wage slips he should have provided.

P60's may not address acceptable sources of income such as rental income, dividends, royalties, ancillary relief and the like. Hence bank statements.

[pazpatel]

Ok I am very clear on loans, how it does not effect your application if you have any loans, but can someone tell me what they look for in my bank statements?

Is it the money going in from my employer at the end of every month or do they look for more?

I am concerned about this because I have loan repayments every month and i pay my other bills including my mobile bills and etc

Does this have any effect at all? are there any tips I can use?

thanks and looking forward for a sweet reply

When I applied fro my Wife's VISA in India this was my situation;

Annual Salary - £met the required figure....
Credit Cards Repayments - £500 per month
Car Loan - £470 per month
+ DD's (T-Mobile, Gas, Elec, Water etc....)

No issues at all, according to my payslips I hardly paid any tax too

They are just looking to see taht you are earning a regular income over the last 6 months, you have money left at each month and are sensible in your spending that it is - I THINK.

I do all my shopping on credit cards in the month and pay in full each month (get my points hehehehe) And got the loan as you can.

If you have any savings I would show statments for those savings too.

[riversidecreations]

The Gross Annual Income rule makes sense... but there is still confusion about how they calculate maintenance...

I've read through several other threads relating to this but no final answer yet. My bank statements can clearly show that my pay is coming in every month.. etc... but the balance and all that has been a little bit messed up...

I have already been advised on a separate thread that I could show savings statements, but what about people who don't have a savings statement? i.e. applying based on just an annual income over 25K. If the bank balance is extremely low, would this cause problems for the sponsor as it looks like the sponsor may struggle to look after the spouse?

[transpondia-2011]

If you have any savings I would show statments for those savings too.

They have actually changed the rules since you applied; new rules were activated last week, so the experience you described is from a different era...

[transpondia-2011]

I have already been advised on a separate thread that I could show savings statements, but what about people who don't have a savings statement? i.e. applying based on just an annual income over 25K. If the bank balance is extremely low, would this cause problems for the sponsor as it looks like the sponsor may struggle to look after the spouse?

The new regime is based upon a hurdle paradigm. If you clear the hurdle, you're done.

If you have 18.6k income, plus a 10k per month mortgage, plus 5k per month credit cards plus 15k per month gambling debt plus 10k per month child support plus 5k per month car payment, you still qualify. You qualify because you can clear the hurdle.

[riversidecreations]

Ok.. thanks...

I'm two weeks away from submitting my application...