# ILR - Cash Saving



## SandyGarg (Apr 27, 2017)

Hi All,

This is a question for my friend who is going to apply for ILR in couple of months time.

How much cash saving is required for ILR to fulfill the financial requirement? She has 2 kids and both were born in UK.

Thanks
Sandy


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## Crawford (Jan 23, 2011)

deleted .....


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## Crawford (Jan 23, 2011)

Looking at the following Appendix

https://assets.publishing.service.g...pendix_FM_1_7_Financial_Requirement_Final.pdf

*Page 48*

my understanding is that, _without any income_, 40,500 USD is required for ILR


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## nyclon (Apr 3, 2011)

Crawford said:


> Looking at the following Appendix
> 
> https://assets.publishing.service.g...pendix_FM_1_7_Financial_Requirement_Final.pdf
> 
> ...


British children never figure into the calculation.

They would need £34,600.


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## Crawford (Jan 23, 2011)

nyclon said:


> British children never figure into the calculation.
> 
> They would need £34,600.


Quite right .....:smile:


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## SandyGarg (Apr 27, 2017)

Crawford said:


> Quite right .....:smile:


Thanks Crawford and Nyclon.


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## SandyGarg (Apr 27, 2017)

nyclon said:


> British children never figure into the calculation.
> 
> They would need £34,600.


My friend has 30,000 GBP as savings in Stock & Share ISA and 10,000 GBP in LISA. All 40K invested in stocks and mutual funds. Do they need to cash the money out from stocks/Mutual funds into cash before they can use the cash savings? 

Does LISA qualified under cash savings i.e. money invested in LISA can be used towards financial requirement?

Thanks


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## SandyGarg (Apr 27, 2017)

SandyGarg said:


> My friend has 30,000 GBP as savings in Stock & Share ISA and 10,000 GBP in LISA. All 40K invested in stocks and mutual funds. Do they need to cash the money out from stocks/Mutual funds into cash before they can use the cash savings?
> 
> Does LISA qualified under cash savings i.e. money invested in LISA can be used towards financial requirement?
> 
> Thanks


Dear All,

Would you mind to please reply to my above query?

Thanks


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## LJ Cheek (Jul 12, 2018)

Hello,
My husband and I have our appointment at the end of July and we have had savings of over 40,500 in the bank since January. However, I just noticed that they dipped to 39,500 a few weeks ago. Will this make a difference or is 34,600 truly the number that they need? I am so nervous about this. Has anyone actually made it through the process with just 34,500 or is this all purely theoretical? I'd love to hear of a real case that was approved recently! 
Thank you!


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## LJ Cheek (Jul 12, 2018)

The savings that I mentioned above were also gifted from my husband's family into our account in January 2018. Will they hold this against us that the money came from my husband's mother's family savings? And also, will we need a signed letter from my husband's mum to say the money came from her originally?
Thanks again!


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## LJ Cheek (Jul 12, 2018)

Also, one more question! Do we need bank statements from my mother in law to prove the money came from her. Originally it actually came from my mother in law's mother's account, so my husband's grandmother. She has alzheimers and my aunt transferred it to my mother in law's account as she has the power of attorney for her. Would we need evidence of all of this? 

Thanks again!


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## shaz2803 (Jun 21, 2015)

nyclon said:


> British children never figure into the calculation.
> 
> They would need £34,600.



Hello, ive been away a while, im really interested in knowing how you got this figure?

So would i only need that amount in savings for ILR without any other source of income?

How do you work that out?

apologies this is directed to Nyclons reply...


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## shaz2803 (Jun 21, 2015)

I see, for savings during ILR you dont divide anything above £16,000 by 2.5

I already knew this but just seeing the figure of £34,600 just confused me duhh!


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