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Topic: Which document to include with savings route from home sales  (Read 990 times)

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Which document to include with savings route from home sales
« on: November 18, 2020, 09:00:00 PM »
hello,
our house just closed today and we are preparing to apply via the savings route using profit from a home sale, which document should we include with our application ? I am including a copy of our property taxes from earlier this year for proof of ownership for at least 6 months.  Should the escrow company or my agent provide me with something?  thank you !


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Re: Which document to include with savings route from home sales
« Reply #1 on: November 18, 2020, 09:23:19 PM »
hello,
our house just closed today and we are preparing to apply via the savings route using profit from a home sale, which document should we include with our application ? I am including a copy of our property taxes from earlier this year for proof of ownership for at least 6 months.  Should the escrow company or my agent provide me with something?  thank you !

You are going to need documents from the purchase of your house to prove when you bought it and that you are the owners, I would not expect UKVI to accept property tax payment as proof of ownership. Also the following-

From the guidance.

Quote
.11. In respect of cash savings the following must be provided:
(a) personal bank statements showing that at least the level of cash savings relied upon in the application has been held in an account(s) in the name of the person or of the person and their partner jointly throughout the period of 6 months prior to the date of application.
(b) A declaration by the account holder(s) of the source(s) of the cash savings.
11A. In respect of cash savings:
(a) The savings may be held in any form of bank/savings account (whether a current, deposit or investment account, provided by a financial institution regulated by the appropriate regulatory body for the country in which that institution is operating), provided that the account allows the savings to be accessed immediately (with or without a penalty for withdrawing funds without notice). This can include savings held in a pension savings account which can be immediately withdrawn.

Quote
.(d) Funds held as cash savings by the applicant, their partner or both jointly at the date of application can be from the proceeds of the sale of property, in the form only of a dwelling, other building or land, which took place within the period of 6 months prior to the date of application, provided that:
(i) The property (or relevant share of the property) was owned at the beginning of the period of 6 months prior to the date of application and at the date of sale by the applicant, their partner or both jointly.
(ii) Where ownership of the property was shared with a third party, only the proceeds of the sale of the share of the property owned by the applicant, their partner or both jointly may be counted.
(iii) The funds deposited as cash savings are the net proceeds of the sale, once any mortgage or loan secured on the property (or relevant share of the property) has been repaid and once any taxes and professional fees associated with the sale have been paid.
(iv) The decision-maker is satisfied that the requirements in sub-paragraphs (i)-(iii) are met on the basis of information and documents submitted in support of the application. These may include for example:
(1) Registration information or documentation (or a copy of this) from the Land Registry (or overseas equivalent).
(2) A letter from a solicitor (or other relevant professional, if the sale takes place overseas) instructed in the sale of the property confirming the sale price and other relevant information.
(3) A letter from a lender (a bank or building society) on its headed stationery regarding the repayment of a mortgage or loan secured on the property.
(4) Confirmation of payment of taxes or professional fees associated with the sale.
(5) Any other relevant evidence that the requirements in subparagraphs (i)-(iii) are met.
(v) 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 mentioned in paragraph 11(a) will be reduced by the amount of time which passed between the start of that 6-month period and the deposit of the proceeds of the sale in an account mentioned in paragraph 11(a).
https://www.gov.uk/guidance/immigration-rules/immigration-rules-appendix-fm-se-family-members-specified-evidence


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