Using Savings to Meet the UK Spouse Visa Financial Requirement

Using Savings to Meet the UK Spouse Visa Financial Requirement

The Home Office requires British or settled partners to meet a minimum income threshold to sponsor their foreign partners. The financial requirement is one of the most crucial requirements for applying for the UK Spouse Visa. Most sponsors will rely on income from employment to meet the financial requirements. However, if you’re unable to meet the income threshold through earnings alone, you can rely on cash savings

In this article, we’ll explain how to use cash savings to meet the UK Spouse Visa financial threshold. We will explore the rules for calculating savings, and what types of funds are eligible.

What is the UK Spouse Visa Financial Requirement

The minimum income threshold for sponsors for a UK Spouse Visa is £29,000 per year. This means that sponsors must earn at least £29,000 annually. However, if you’re not able to meet this through employment or self-employment, the UK Immigration Rules allow you to use cash savings instead.

This option is especially helpful for:

• Sponsors living abroad planning to return to the UK with their foreign partners
• Retired applicants
• Individuals with large lump sums or property sales

The Immigration Rules also allow sponsors to combine income and savings to meet the financial requirement.

🔗 Check the latest UK Spouse Visa financial requirements

Who Is the Minimum Savings Amount for a UK Spouse Visa

Sponsors who want to rely solely on cash savings, must have £88,500 in savings. This amount must be held for at least six consecutive months before the date of the visa application.

This amount is calculated using the following formula from Appendix FM-SE:

£16,000 (base threshold) + [2.5 x income shortfall

Where:

• £16,000 is disregarded in the calculation.
• The income shortfall is the gap between your income and the £29,000 requirement.
• The multiplier of 2.5 reflects the 2.5-year validity of a spouse visa.

Example: Using Only Savings

If you are not employed and wish to use savings alone:

• You need: £16,000 (disregarded) + (£29,000 x 2.5) = £88,500
• This amount must be held in your name, your partner’s name, or jointly for at least 6 months before applying.

Example: Combining Income and Savings

If your income is £20,000 annually, you’re £9,000 short of the £29,000 requirement. Required savings: £16,000 + (2.5 x £9,000) = £38,500

So you would need at least £38,500 in savings to top up your income and meet the financial requirement.

What Types of Savings Are Eligible?

The Home Office specifies that only cash savings that are immediately accessible can be used. Eligible sources include:

• Personal savings accounts
• Current accounts
• Fixed-term deposit accounts (must be accessible within 30 days)
• Sale of property or shares (proof of sale and ownership required)
• Pension lump sums (if accessible)

🔗 View full requirements in Appendix FM-SE

The Home Office deems the following sources as ineligible for meeting the financial requirement:

• Funds held in business accounts
• Loans or borrowed funds
• Stocks or shares (unless converted to cash)
• Cryptocurrency
• Assets that cannot be liquidated within 30 days

Key Rules for Using Savings for UK Spouse Visa

• Funds Must Be Held for 6 Month – You must show that the full savings amount has been held for a minimum of 6 consecutive months. If the funds were received from a permissible source, such as the sale of property, inheritance, or a pension lump sum, you must provide evidence of that source and show that the funds have remained untouched.
• Joint or Individual Ownership – Savings can be in the name of the applicant, sponsor, or jointly held. If funds are jointly held with a third party, you must demonstrate that only the applicant/sponsor has control and access.
• Currency Conversion – If the savings are held in a foreign currency, they must be converted into GBP using the OANDA exchange rate on the date of application submission.

🔗 OANDA Currency Converter

Required Documents to Prove Savings for UK Spouse Visa

When submitting a spouse visa application, you must provide documentary evidence showing:

• 6 months of bank statements showing the savings
• Confirmation of account ownership
• Source of funds (if deposited in the last 6 months)
• Proof of property sale, inheritance, or pension lump sum (if applicable)
• Currency conversion printout (if applicable)

The UK Home Office may refuse your application if your evidence is incomplete or inconsistent.

Common Mistakes to Avoid

• Not meeting the 6-month holding period
• Using borrowed or gifted money without proof of origin
• Failing to provide a clear paper trail for recent deposits
• Combining income and savings incorrectly
• Not converting foreign currency correctly

When Should You Apply Using Savings

You can combine self-employment income with:

• You are self-employed and your income fluctuates
• You are a returning British citizen with no current UK income
• You’ve sold a property and wish to use the proceeds
• You’ve recently retired or received a pension lump sum
• You have enough savings but don’t meet the income threshold

Learn more about combining income from self-employment and savings in our blog post: 🔗 How to Use Self-Employment Income in UK Spouse Visa Applications

Can You Use Future Earnings Instead?

No. Future or potential income cannot be counted unless you’re returning to the UK with a confirmed job offer starting within 3 months. Even then, savings may still be needed to bridge gaps in the requirement.

In conclusion

Using savings to meet the UK Spouse Visa financial threshold is a perfectly acceptable route—provided you follow the rules carefully. With the financial requirement increasing, it’s more important than ever to understand your options and plan ahead.

Whether you are relying on savings alone or combining them with income, Gateway Immigration Services Limited is here to help you every step of the way.