# Cash savings - declare source of savings?



## Raj80 (Oct 28, 2013)

Hello,
My wife is applying for a UK spouse visa and as her sponsor I am using the cash savings option for the financial requirement.
My question is do I need to declare the source of the savings?

In Appendix FM Section FM 1.7: Financial Requirement (7.3.1) it says "(b) A declaration by the account holder(s) of the source(s) of the cash savings".

Funds In my UK bank account are a mix of employment savings, property capital gains and Inheritance. All sources were from several years ago, therefore not visible in the six months of bank statements I am obliged to provide.

Is it asking for a literal description of the source or a simple confirmation that none of the funds are in the form of a loan?

Thanks
Raj


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## Whatshouldwedo (Sep 29, 2013)

Raj80 said:


> Hello,
> My wife is applying for a UK spouse visa and as her sponsor I am using the cash savings option for the financial requirement.
> My question is do I need to declare the source of the savings?
> 
> ...


Good question! Our savings are from my husband's earnings over the past 13 years! So if we include that fact in our letters declaring the source of our funds, would that be sufficient or do we have to produce a letter from his employer to confirm his salary over the years?


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## Joppa (Sep 7, 2009)

I would say that for Raj80, even if the funding is from some time past, give brief details of what it is. For inheritance, a copy of probate, for capital gains, conveyancing account and for regular savings, a sample of transfer from your current account with main items highlighted. 
For Whatshouldwedo, samples of transfer over the last few years.


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## Whatshouldwedo (Sep 29, 2013)

Thanks Joppa but the money was actually placed in the accounts some years ago so maybe a letter from the bank (s) stating the date the accounts were opened and the amounts? In recent years the accounts have only accrued interest, not had any more deposits as salary had to be adjusted because of the economy. When I come to think about it, we took out some money from one account a few months ago. Is that OK once the total balance is above the required amount? I do hope I am not hijacking Raj80's thread.


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## Joppa (Sep 7, 2009)

If the account has been open in your name with required amount for a long time (several years), then it's obvious the money is all yours so all you need are samples of statement over the last few years, such as Oct 2010, Oct 2011, Oct 2012, and finally the required past 6 months. Withdrawal that doesn't bring the balance below the level you are relying on doesn't matter.


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## Whatshouldwedo (Sep 29, 2013)

Thanks, Joppa! Oh dear, I do not have old statements, except for maybe last years and, of course, for this year but I do have the original deposit receipts. One bank does not send statements and their online ones do not even have our names on it! I will definitely have to get a letter from that particular bank. Stress! And I have not even really started yet!


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## Joppa (Sep 7, 2009)

But do make sure you get rock-solid proofs of your savings, as they are crucial to the success of your application.


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## Whatshouldwedo (Sep 29, 2013)

Absolutely! I have six months statements from two banks and I will get covering letters for both those as well as the third one which does not send monthly statements. Does that sound good? All will attest to the fact that the savings have been there for several years.


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## Joppa (Sep 7, 2009)

Provided they all carry account details including your name as holder, they should be good.


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## Whatshouldwedo (Sep 29, 2013)

Definitely!as I said, the one that does not have our name on online statement will require a letter from the bank, along with original deposit slip if necessary.


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## Raj80 (Oct 28, 2013)

Joppa said:


> I would say that for Raj80, even if the funding is from some time past, give brief details of what it is. For inheritance, a copy of probate, for capital gains, conveyancing account and for regular savings, a sample of transfer from your current account with main items highlighted.
> For Whatshouldwedo, samples of transfer over the last few years.


Thanks Joppa, I guess I will have to dig up more paperwork then.


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