Fiance Visa, Financial Requirement, Liquidating Shares

[MilleniumDK]

Hi all, regular reader, first time poster.

I have 2 questions and Ill try and keep it brief.

I have a fiance, still in Colombia just about to apply to come over to the UK to get married, we've had 4 years together, 3 in UK and 1 in Colombia.

First question, how much is financial requirement for savings for the fiancé visa, I know it says everywhere 62.5K but the initial visa is only for 6 months and I understand that 62.5K is based on the 2.5 year visa normally applied for by people already married. Can someone verify the amount needed in case just for the initial 6 months. So by my reckoning 16K + 18,600 * 0.5. Is this right?

Second question, I have half the savings in cash and the rest in shares, now I plan to liquidate the shares just before application, as I understand it they look at the price of the shares 6 months before the application date and use that figure to compute your savings amount, regardless of what you sell the shares at, this is really important on deciding what day to apply. Does anyone know where they get the info for the price of a share on any given day, I cannot find much infer on people liquidating shares and going down that route.

Any help on this two points would be greatly appreciated

DK

[MPH80]

On your first question - I understand your logic - but it doesn't work like that. It's still (shortfall * 2.5) + 16000 - see EECP 3.2b

On your second question - appendix fm-se is your friend. 11A(c)(ii).

(ii) The ownership of the funds in the form of investments, stocks, shares, bonds
or trust funds; the cash value of the funds in that form at or before the beginning of
the period of 6 months prior to the date of application; and the transfer of the funds
into cash, are evidenced by a portfolio report or other relevant documentation from
a financial institution regulated by the appropriate regulatory body for the country
in which that institution is operating.

[MilleniumDK]

Thanks for your response,

re: Point 1, I feared you would say that but expected it.

re: Point 2, I have read all this documentation over and over as not to have any ambiguity in my head but the finer detail still escapes me, I wonder if you could help me with my specific example.

Dec 2103, 8 months before application submitted, Bought £30,000 worth of one specific share.
Feb 2014, exactly 6 months before the application will be submitted, shares are worth approx £29,000
August 2014, Just before application is made, shares will be sold for approx £35,000

The question is, which value can I use? Because 29K probably wont be enough and 35K will be too much, obviously I want to over shoot as we all know what they are like on this kind of thing, my girlfriend was refused a visa once for being £5 under on her bank balance for 1 day!!

Thanks in advance, I appreciate everyone's help.

[fanta35]

Sorry

[Casa]

fanta35 please start your own thread with this question, you've confused things by highjacking this one.

[fanta35]

Sorry I will try and do that let me delete this post and find how to do my own thread

[MilleniumDK]

Hopefully that last poster hasn't messed up my question, I'm still none the wiser on how much money I can actually contribute based on my shares.

[MPH80]

I believe the answer is that it's the amount held in cash that's the point.

So if you sell for £35,000 - then it's £35,000.

What the time held as shares allows you to do is say that you didn't hold it as cash for 6 months prior to application, provided you liquidate them.

But there's no such thing as 'overshooting' on cash savings. if you meet the requirements - it doesn't matter if you meet it bang on or you meet it over by £1 million.

M.

[MilleniumDK]

7.4.9 in the Financial Requirements Doc - "Annex FM Section FM 1.7: Financial Requirement" states

The value of the investments, stocks, shares, bonds or trust funds at or before the
beginning of that 6 month period was at least equivalent to the amount of the cash
savings relied upon in the application; and

So given my example 35K could not be relied upon, however both 29K and 30K could, because at 6 months it was 29K and at 8 months it was 30K. One is at 6 months and one is before.

Or am I misunderstanding the quote above?

[MilleniumDK]

Does anyone out there understand this part of the Financial Requirements?