Spouse Visa

[ReverendR]

Hi all,

Just a question regarding spouse visa since there is a increase to £29,000 from spring 2024 and then £34,000 later this year and finally £38,000 next year. My question is regarding how much cash savings I need in my bank account? I currently have a full time job and make £25000 a year from it.

Thanks.

[AmazonianX]

While not clear to me yet if this is stated for savings financial requirements if using the existing calculation for that which is well known I.e. £18,600 = £62,500, then
£29,000 =£88,500 and £34,500 = £102,250 and £38,700 = £112,750

[ReverendR]

While not clear to me yet if this is stated for savings financial requirements if using the existing calculation for that which is well known I.e. £18,600 = £62,500, then
£29,000 =£88,500 and £34,500 = £102,250 and £38,700 = £112,750

Thanks for the reply! But this would be if solely depending on cash savings only right? How about if it's paired with £25,000 employment income?

[secret.simon]

Thanks for the reply! But this would be if solely depending on cash savings only right? How about if it's paired with £25,000 employment income?

The current formula for the savings required in addition to income is (((18600-annual income)*2.5)+16000).

The final rules and guidance on the change are not yet published (likely won't be till March 2024), and we are not in a position to advise on what the future may hold. There may or may not be changes to the formula above. For instance, the current formula for income requirement increases for every dependent child, while the new formula will likely not (as per a government update). So things may or may not change re the savings requirement.

Also, as we understand it currently, if the immigration journey is started before the new requirements come into play the entire journey till ILR will continue under the old £18,600 requirements. So it may be worth applying earlier rather than later.

Also keep in mind that the IHS increases on 6th February. So you may want to get your application in before that date.