Please Help- Financial requirments

[michaelknight]

Hello,

My set salary is 17,500 but my gross monthly pay with guaranteed commission ranges from £1600-2000 per month and net pay ranges monthly from £1400-£1750. I have six months plus proof of earnings and can provide a letter from employer stating my guaranteed commission from my sales position. My rent is from council accommodation is £300 per month and currently in the process of buying this flat , council tax and other bills are £200 approximately and student loan £140 per month. Is this acceptable of the financial requirements?

Even my lowest paid months are well over the financial requirements but my basic salary is 17,500.

My bank statements show mostly debt of using overdraft as I graduated from University in summer 2012. Is this used against an applicant if they do not maintain healthy cashflow in their account is it based on the regular income over six months?

Thanks in advance

[michaelknight]

Anyone?

[Rayking]

It's your gross earning they want to see which should be minimum of 1550 monthly.Having overdraft is no issue, there's no where it's stated that you can't have an overdraft as long as you clear it monthly.
I don't know if living in a council house is a problem someone might help with that.
As long as your gross earning is 18600,that will be fine with financial requirement.

[85 East]

From what you say you would meet the criteria,

Overtime, commission-based pay and bonuses (which can include tips and gratuities paid via a tronc scheme registered with HMRC) will be counted as income from employment where they have been received in the 6 or 12 months prior to the date of application as applicable. Sometimes the person will receive the same amount of income from overtime each month; sometimes overtime payments will vary, with different amounts (if any) each month. All overtime in salaried employment will be calculated based on the approach to income from non-salaried employment. This will be an annualised 6-month average for the overtime which will be added to the level of the gross annual salary.

Link to the source:
https://www.gov.uk/government/uploads/s ... 140324.pdf

- Outgoings (rent/loan repayments) do not have any impact, it is the salary that counts. As Rayking says, I don't know if council accommodation is an issue, you will have to check that, but salary is fine.

[michaelknight]

Thank you very much for these replies. I didnt even include my overtime over the last six months, my gross income is £24,000 combined with commission.

I am in the final stages of purchasing my council property anyway, should own it before we apply for a visa for my wife.