Financial requirements for each step of the partner process?

Me and my husband(UK citizen) are currently living in the US, trying to save up enough money to move to the UK. From what I understand, there are three steps to the immigration process, "Apply to Join Family", then "Apply to Remain with Family", and then "Indefinite Leave to Remain". However, when I was looking at the UK government website, it seems like you have to make the financial requirement for each step in this process. My understanding was that the financial requirement in the first step was supposed to make sure you were financially responsible enough to live in the UK for 5 years without needing public money, and after 5 years you could apply for indefinite leave to remain.

So would I still have to have 62500 pounds in savings to be eligible for both "Apply to Remain with Family" and "Indefinite Leave to Remain"?  Hopefully we both find jobs soon after moving, but if we live off of savings for a while, would I be in danger of not being able to renew my visa?

However, when I was looking at the UK government website, it seems like you have to make the financial requirement for each step in this process. My understanding was that the financial requirement in the first step was supposed to make sure you were financially responsible enough to live in the UK for 5 years without needing public money, and after 5 years you could apply for indefinite leave to remain. So would I still have to have 62500 pounds in savings to be eligible for both "Apply to Remain with Family" and "Indefinite Leave to Remain"? 

Yes, you have to meet the same financial requirement for each of the 3 visas. So, if you are going to rely on savings, you'll need to keep that £62,500 available for the whole 5 years (or at least make sure it's back up to £62,500 at least 6 months before each application).

The £62,500 is actually only 2.5 years' worth of savings... so you need to show it for the first 2.5 years, then again for the second 2.5 years, and then finally for the 2.5 years after ILR.

The figure comes from the fact that the annual income requirement you have to show is £18,600. The first £16,000 of the savings do not count (because that's the amount of savings above which you don't qualify for benefits), then you ALSO need on top of that 2.5 years x £18,600.

So, you have £16,000 + (2.5 years x £18,600) = £62,500.

Hopefully we both find jobs soon after moving, but if we live off of savings for a while, would I be in danger of not being able to renew my visa?

Potentially - but it depends on your financial situation. You could live of some of the savings, but if you weren't able to get jobs, you would need to make sure you could top the saving back up to £62,500 in time for the next visa.

Once you have the first visa though, you can combine incomes to meet the requirements for the FLR(M) and ILR... so you would only need to be earning £9,300 per year each to meet the requirements.

However, we do have someone on the forum who used £62,500 in savings for the first visa, and then used that money to purchase a house, and now they are in danger of not being able to meet the income requirement for their FLR(M) because their employment income might not quite be enough.

The £62,500 is actually only 2.5 years' worth of savings... so you need to show it for the first 2.5 years, then again for the second 2.5 years, and then finally for the 2.5 years after ILR.

Ksand, I'm going to be using savings for our ILR in around a year, so I'm particularly interested in this topic.

I actually think the amount of savings required at the 5 year mark is not 62.5k, but less than that, I'm trying to figure it out now! eta 34,600gbp I think but could be totally wrong!

from FM1.7

7.2.3.
At the indefinite leave to remain stage, the whole of the amount above £16,000 can be
used. And the following equation is to be used:(x minus 16,000) = y   

Please take a look at the two right hand columns in the table on page 47 and let me know what you think. 

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/525708/Appendix_FM_1_7_Financial_Requirement.pdf

Sorry for jumping in roamingbee, I hope you don't mind. 

Ah, yes - you're right.

I keep forgetting about the ILR requirement being different, because no one qualifies to apply for it yet, so it's not something I've needed to remember.

Looking at the document, for ILR it says you just need 2.5 years x £18,600 in savings and not the additional £16,000... presumably because once you have ILR, you will be entitled to benefits.

So, if you are using just savings, you only need £46,500 to meet the requirement for ILR.

Which reminds me: roamingbee, if you do end up with jobs, but they don't quite meet the requirements, you can use savings to make up the difference. In that case, you would need £16,000 + (2.5 x the difference between your income and £18,600) in savings.

Ah, yes - you're right.

I keep forgetting about the ILR requirement being different, because no one qualifies to apply for it yet, so it's not something I've needed to remember.

Looking at the document, for ILR it says you just need 2.5 years x £18,600 in savings and not the additional £16,000... presumably because once you have ILR, you will be entitled to benefits.

So, if you are using just savings, you only need £46,500 to meet the requirement for ILR.

Thanks Ksand! 

That's what I thought at first but if you look at it again, the next row down also has no other income needed from other sources for an example of 40.5k.

I think it's as simple as 34.6k minus 16k = 18,600gbp because there are no more 2.5 year increments on the visa.

(x minus 16,000) = y     

I think it's as simple as 34.6k minus 16k = 18,600gbp because there are no more 2.5 year increments on the visa.

Oh, yes, it might be... I find the calculation table in Appendix FM 1.7 so confusing, because it seems to work it out backwards... which is counter-intuitive to me.

You know more about this than me at this stage, because today is the first time I've looked at the ILR savings requirement since about 2012 !

Oh, yes, it might be... I find the calculation table in Appendix FM 1.7 so confusing, because it seems to work it out backwards... which is counter-intuitive to me.

You know more about this than me at this stage, because today is the first time I've looked at the ILR savings requirement since about 2012 !

Me too! It makes my head spin! 
What I will say is firstly, I am really glad not to be one of the first ILR's, because we'll know for sure well before it's time for us to apply.
And secondly, I am still sitting on the full amount because you just never know!!! 

Man that's insane! I mean I'm glad the requirement is slightly lower for ILR, but it's so much money to just sit on! I was thinking about buying a house there a few years after moving but I guess I'll have to hold off until I get ILR. Its a shame that that person had their visa in jeopardy because they bought a house. If anything buying a house shows stability and intent to remain in the UK.

Man that's insane! I mean I'm glad the requirement is slightly lower for ILR, but it's so much money to just sit on! I was thinking about buying a house there a few years after moving but I guess I'll have to hold off until I get ILR.

You could, but that isn't the only way to meet the requirements - you have 2 years to secure jobs and meet the next income requirement... who's to say you won't be able to meet the requirement for FLR(M) and ILR using employment income?

The savings is just something to consider - I wouldn't be too rash with spending it, but at the same time, very few people have that amount in savings anyway, and have to meet the requirements a different way.

Its a shame that that person had their visa in jeopardy because they bought a house. If anything buying a house shows stability and intent to remain in the UK.

Yeah, but if you can't meet the mandatory income requirement, then the visa will be refused and owning a house will be irrelevant anyway.

If they were to sell the house though, they could use the proceeds of the sale to meet the income requirement and would be able to qualify for the visa immediately (as long as they owned the house for at least 6 months first, the money won't need to be in their account for 6 months), rather than worrying about whether they can meet the income requirement using employment income + rental income.