# Can i use premium bonds as part of our cash savings for spouse Uk visa ?



## spring45 (Oct 21, 2014)

Hi all, this is my very first post here so i apologise in advance if this topic has been answered already. 

My wife is applying for the spouse visa into the uk. Being self-employed we have to go the cash saving route for her application. My wife holds the bulk of the £62.500 and my portion is currently held in premium bonds. The bonds have been held in my name for approximately 18 months and i have all the documentation to go along with this. 

Can anyone confirm if money held in premium bonds counts as part of the cash savings amount or do i have to transfer it to my current account and wait another 6 months to apply???

My wife wants to submit the application in November so this throws a spanner in the works if they dont count.

Looking forward your replys, Thanks


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## Pallykin (Mar 30, 2014)

Savings have to be held as cash. 

See here:

http://www.expatforum.com/expats/br...-unit-trust-meet-cash-saving-requirement.html


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## spring45 (Oct 21, 2014)

Hi Pallykin and thanks for your response,

ok so this is as i see it from your link to the thread - we can still apply in November but need to liquidate them into my current account. Then provide a bank statement and NS&I documentation showing the amount was under my control for at least 6 months prior to application ??


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## keemnal (May 25, 2014)

spring45 said:


> Hi Pallykin and thanks for your response,
> 
> ok so this is as i see it from your link to the thread - we can still apply in November but need to liquidate them into my current account. Then provide a bank statement and NS&I documentation showing the amount was under my control for at least 6 months prior to application ??


Hi spring45, 


We sent in the documentation as specified here (and our application was successful):

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/300962/Appendix_FM_SE.pdf


p14 and 15, 

Section 11A (c) 

Funds held as cash savings by the applicant, their partner or both jointly at the date of application can have been transferred from investments, stocks, shares, bonds or trust funds within the period of 6 months prior to the date of application, provided that: 

(i) The funds have been in the ownership and under the control of the applicant, their partner or both jointly for at least the period of 6 months prior to the date of application. 

(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. 

(iii) The requirements of this Appendix in respect of the cash savings held at the date of application are met, except that the period of 6 months prior to the date of application in paragraph 11(a) will be reduced by the amount of that period in which the relevant funds were held in the form of investments, stocks, shares, bonds or trust funds. 

So, I'm consulting the documents I included. They were: A valuation of the bonds from August 2013, then one from April 2014. Once the bonds had been liquidated (in August, a few weeks before I sent out my application), we received a surrender statement and a chargeable gains certificate. We included these. We also included the past 12 months' bank statements, including the most recent one that showed the money being deposited into my husband's bank account. Hope this helps!


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## Joppa (Sep 7, 2009)

Yes, provided you have held premium bond for at least 6 months, you can liquidate it to realise cash at any time prior to application, the only stipulation being its cashed-in value cannot be greater at a point 6 months or more prior to application (this doesn't matter in case of premium bond as its capital value remains the same - any gain is in the form of winnings). So all you need to do is to sell your premium bond shortly before your visa application and transfer the proceeds into a cash account - savings or current, and provide documentary evidence of that, plus that of original bond holding.


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## spring45 (Oct 21, 2014)

Hi Keemnal and Joppa, 

Thank you both for your replies now i fully understand whats to be done, i just thank god we havnt got to wait another 6 months to apply,

cheers all and keep up the good work !!!


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## spring45 (Oct 21, 2014)

So i've had my bonds transferred to my current account then into my cash ISA to make things simple so my out goings dont eat into that money. I have also got the bank statements showing movement. Waiting on the transfer statement from NS&I. 

Maybe im being paranoid but is an ISA acceptable for my spouses visa application ?


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## Joppa (Sep 7, 2009)

Cash ISA, yes, unless it's one of those with no withdrawal allowed until maturity (fixed-term).


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## spring45 (Oct 21, 2014)

Thanks Joppa your the man!! , its just the bog standard cash isa with Barclays. Thanks again, im sure i'll be back here at some point soon.


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## spring45 (Oct 21, 2014)

Hi, back already !! a question has sprang to mind regarding the bank statements. I have the statements showing the bonds cashed into my current, then moved to my isa which were all taken off the in-bank statement machine at Barclays. These being on double sided A4 in black and white, front page a months worth of account transactions, the reverse has bank information, questions answered and services. Will this be acceptable for the application or do i need to order the colour statements like i receive monthly. My last regular statement arrived just before i cashed in and changed the monies around and dont want to wait another month. Ive read some banks wont stamp, sign or verify copies so am i ok or need to order the regular colour type statements ? 

Many thanks.


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## nyclon (Apr 3, 2011)

If you have statements printed at the bank either every page must be stamped by the bank or they must give you a letter on bank headed stationery verifying their authenticity.


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## spring45 (Oct 21, 2014)

Thanks Nyclon, so another trip to the bank is needed.


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## spring45 (Oct 21, 2014)

Hi, Last minute questions submitting documents tuesday !, 

regarding my money transferred from premium bonds into cash account. It was originally a wedding gift from my parents that was in april 2013. I have all the paper trails from bonds to savings account as discussed earlier in this thread. Appendix 2 question for cash savings route is '' source of funds '' ? so as ive had this money in excess of 18 months do i state 'savings' or 'gift', if gift then its got to be backed up by a letter from parents stating that right ?

Next question appendix 2 asks ' if this cash savings is held in an account, state when the account was opened for your sponsor '? - so do i need to know the date of when i actually opened the cash savings account (ISA) my money is held in or when i first opened my Barclays account in 1985 ?

Hope you can answer these questions soon as possible one day left and panicking.


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## Joppa (Sep 7, 2009)

Yes, a letter from parents will be a useful piece of evidence.
I think they mean the account your money is held at the moment, so 1985?
Don't get stressed over it. A wrong answer won't give you a refusal.


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## spring45 (Oct 21, 2014)

Hi Joppa, thanks for replying. Sorted the opening of account date out i called Barclays to confirm that. As to my cash savings my wifes in Kuala Lumpur and her submission day is tomorrow morning. So instead of saying the money was a gift can i say savings as its been in my control now since april 2013 ?. Mail from the UK to Malaysia is taking around 10 days !! 

Cant help but be stressed feel like my whole life is dangling by a thread...


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## Joppa (Sep 7, 2009)

Just scan it and send.


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## spring45 (Oct 21, 2014)

Thanks again Joppa, all done, documents sorted and the wife's submitting them in the morning. Fingers crossed...


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## Joppa (Sep 7, 2009)

All the best.


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