£18,500

[lastlid]

Maybe he's being confused, because as part of this dogs dinner of a ruling, someone can mitigate against a shortfall in their £18,600 salary, any savings above £16,000.

For example, if they earned £18,000, but had £16,600 savings - that then would pass.

The £16,000 savings actually is one part of this pile of which has SOME logic behind it, as it's the amount of savings you can hold after which you are ineligible for benefits IIRC

I see. So if you were under the £18600 mark by not too much, if you had a picasso in your loft or something, then you could go out and flog it and then still qualify cos you had more than £16000 in the bank? Or similar. So another potential glimmer of hope for those not earning £18600 or more....

[Iani]

I see. So if you were under the £18600 mark by not too much, if you had a picasso in your loft or something, then you could go out and flog it and then still qualify cos you had more than £16000 in the bank? Or similar. So another potential glimmer of hope for those not earning £18600 or more....

Yes, absolutely

According to what I read on UKBA site anyway, in amongst all that amazingly long blurb.
The conditions are that it must be your own money, you must have use of it and it can't be a loan.

I wouldn't be sure remortgaging your house for example would be allowed - classed as a loan.

Oh and you have to hold that money for 6 months

[lastlid]

Yes, absolutely

According to what I read on UKBA site anyway, in amongst all that amazingly long blurb.
The conditions are that it must be your own money, you must have use of it and it can't be a loan.

I wouldn't be sure remortgaging your house for example would be allowed - classed as a loan.

Oh and you have to hold that money for 6 months

But I think as Graham tends to point out, if you were canny and planned ahead, you might well be able to remortgage a home and do it successfully that way.

[lastlid]

Yes, absolutely

According to what I read on UKBA site anyway, in amongst all that amazingly long blurb.
The conditions are that it must be your own money, you must have use of it and it can't be a loan.

I wouldn't be sure remortgaging your house for example would be allowed - classed as a loan.

Oh and you have to hold that money for 6 months

Actually, I feel certain that remortgaging would be okay aslong as it was done ahead of time. I mean, what if you decided to move house, and took out a bigger mortgage on a similar property? Would that be classed as a loan that might affect the application? Surely not...Food for thought and reason for more optimism.

If I was in such a position then this is the type of thing I might look towards to help get me over the line, as it were.

See what the "grown ups" on the forum think....