Spouse Visa Cash Savings and LISA.

[Testey]

Hello guys and gals, hope you are all well.

My partner is currently here on a spouse visa, FLRM due next year.

We meet all requirements, but we are now saving for a house long-term.

He is due ILR in 3.5 years. Once that ILR is in his hand, we want to buy.

If we are both saving into a Moneybox LISA, the amount by the time he has ILR is quite significant (it would meet the Cat. D cash savings route on its own if we were to combine both by then) as we are saving for a house, BUT could provide emergency backup savings funds for the visa application should financial circumstances change (know of more than one who has been skewered with redundancy just before ILR applications, for instance).

You can withdraw, with a penalty, and it seems the rules do not mind withdrawals with penalties. Where I am finding a gray area, is the funds must be 'immediately' available for withdrawal.

I can request a withdrawal at any time, and they take a penalty, the 20% government bonus + 5% of your original deposit is taken for a total of 25%. But the withdrawal takes SEVEN working days to process but can be REQUESTED at any time, and paper statements can be sent on request. I had them confirm IN WRITING that withdrawals can be REQUESTED at any time, but take SEVEN DAYS to be paid into your current account should you require it.

Can such an LISA be used for the cash savings route?

Thanks very much!

[Zerubbabel]

Hello

Please read this topic:

uk-tier-2-employer-sponsored-visas/main ... 63872.html