How To Meet UK Fiance Visa Financial Requirements With Savings In 2024

The UK Fiance Visa is for couples planning to marry and live in the UK. It lets the partner of a UK citizen or someone with settled status come to the UK for a short time to get married. To get this visa, you need to meet certain financial requirements. Usually, this means showing a minimum income, but you can also use cash savings and other ways.

This article talks about the financial needs of the UK fiance visa and how to meet them with savings.

Understanding UK Fiance Visa

The UK Fiance Visa is designed for foreign nationals to enter into a marital relationship or form a civil partnership with a British citizen or an individual who is a permanent resident in the UK. This visa is crucial for couples planning to build their lives together in the UK, providing six months to marry or enter into a civil partnership once in the country.

Upon marrying or forming a civil partnership, the visa holder can transition to a Spouse or Partner Visa, offering an initial 2.5 years. This can be expanded for an additional 2.5 years, and after that, the applicant can apply for Indefinite Leave to Remain (ILR) and live in the UK permanently. 

UK Fiance Visa Requirements 2024

The requirements for the UK Fiance Visa application include:

  1. Partner’s Immigration Status: The UK partner must be a British citizen, have settled status, or have refugee or humanitarian protection in the UK.
  2. Age Requirement: Applicants and their UK partner need to be a minimum of 18 years old during the application period. 
  3. Relationship Requirement: Applicants must prove they are in a genuine relationship with their UK-based partner, planning to get married or form a civil partnership in the UK within 6 months after arriving.
  4. Income Requirement: Demonstrating financial stability is essential. Applicants must be able to fulfil the income threshold criteria or show sufficient savings to sustain themselves independently of public funds. The specific figures can vary, highlighting the need for up-to-date information.
  5. Accommodation Requirement: There must be suitable accommodation for the couple, without overcrowding and meeting living standards, to ensure a stable living environment.
  6. English Language Requirement: The applicant must provide evidence of English proficiency, either by passing an authorised English language test at CEFR level A1 or above or by having an  English-taught degree.
  7. Tuberculosis Clearance: For applicants from nations where tuberculosis testing is mandatory, presenting a valid certificate confirming a TB-free status is a prerequisite.
  8. Criminal History: Applicants should have no significant criminal history and must not constitute a risk to the national security of the United Kingdom.

UK Fiance Visa Financial Requirements 

In 2024, the financial requirements for securing a UK Fiance Visa are set to undergo significant revisions.

As of April 11, 2024, the minimum income requirement is £29,000, with a further anticipated increase to £34,500 and then to £38,700 by early 2025. This adjustment clearly indicates the UK government’s evolving stance on immigration and financial self-sufficiency for incoming families.

Here is how it will impact different applicants after changes to the immigration rules: 

  • Individuals applying for a new UK Fiance Visa after the spring 2024 changes must meet the new £29,000 minimum income requirement. 
  • Those who submit their application before the April 2024 adjustment will be assessed under the current threshold of £18,600. 
  • Individuals who already secured a Fiance Visa before the increase and subsequently apply for a Family Visa via the five-year spouse route will also be assessed against the £18,600 threshold. 

Satisfying the Fiance Visa Financial Requirement Through Savings 

While income from employment or self-employment often serves as the primary means to satisfy the financial criteria, it’s important to note that substantial savings can also be used to do so. This alternative approach is especially beneficial for applicants who may not meet the updated minimum income thresholds but possess significant savings.

Using Savings to Meet Financial Requirements:

  • Before the 2024 Increase: If an applicant’s income falls short of the £29,000 benchmark, the UK immigration rules permit the use of cash savings to make up the difference. A savings amount of £88,500 is required to meet the financial requirements at this stage.
  • Post-April 2024 Adjustment: With the threshold set to rise to £34,500, applicants will need to demonstrate access to £102,250 in savings to fulfil the financial criteria.
  • Anticipating the 2025 Increment: Looking further ahead, when the threshold escalates to £38,700, the required savings amount will increase to £112,500.

Guidelines for Using Savings

Adhering to the UK Home Office’s regulations, specifically outlined by the UK government in Appendix FM-SE, is critical when counting cash savings towards the financial requirement. These guidelines dictate that:

  • The savings must be held in cash in a banking institution regulated by the appropriate financial authority, either solely by the applicant or jointly with their partner.
  • A minimum holding period of six months before the application date is mandatory, ensuring the stability and availability of funds.
  • The origin of the savings, which can include legal gifts from relatives or earnings, must be clearly documented and declared in the application to maintain transparency and integrity in the financial assessment process.
  • Combining cash savings with other income types, such as employment (salaried and non-salaried) income, non-employment income, and pension payments, is possible to meet the financial threshold. However, this combination does not include income from self-employment or directorship in a limited company. 

Also Read: How Much Does A UK Fiance Visa Cost in 2024?

Other Ways To Satisfying the Financial Requirements

Beyond savings, there are multiple avenues through which applicants can meet the financial requirements for a UK Fiance Visa. Here are alternative methods to satisfy these financial stipulations:

Non-Employment Income

Income generated from non-employment sources, such as rental properties, stock dividends, or other investments, is also considered. Applicants must provide verifiable evidence, like rental contracts or dividend statements, to prove these income streams are stable and reliable over time.

Combining Income Sources

Applicants and their UK sponsors can combine various income types to reach the necessary financial threshold. This can include employment or non-employment income, pension disbursements, and cash savings. However, it’s essential to note the restrictions on mixing certain incomes, such as those from self-employment or directorial roles in limited companies, with other revenue forms.

Pension Income

For those who are retired or nearing retirement, pension income can be a significant source of financial support. This option is especially pertinent for older applicants or those with considerable pension benefits.

Income of Both Partners

The combined income of the applicant and their UK sponsor can also contribute to fulfilling the financial requirements. However, all included income must be checkable and should continue upon the applicant’s relocation to the UK. Please note that income earned outside the UK that will not continue after moving is not eligible.

Each of these methods comes with its own set of documentation requirements and rules as outlined by the UK Home Office and the immigration rules, particularly under Appendix FM. Applicants must understand these guidelines and prepare their application accordingly, ensuring all income sources are documented and meet the standards set forth by the UK government.

Also Read: UK Family Visa Financial Requirements 2024

Let UK Spouse Visa Lawyers Help You! 

At Spouse Visa Lawyers, we are dedicated to simplifying your UK visa journey. Our team of experienced attorneys specialises in immigration law, ensuring that every step of your application is handled with precision and care. 

We provide personalised support, addressing your specific needs and concerns, to help reunite you with your loved one fast and with minimal stress. Trust us to navigate the legalities so you can focus on preparing for a future together.

 Get in touch with us today, and let’s make your dream a reality.

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FAQs

The updated financial criteria for the UK Fiance Visa already came into effect on April 11, 2024. Applicants should prepare to meet these updated requirements, ensuring all documentation accurately reflects the changes to avoid delays in processing. There will be 2 more updates on financial requirement coming in later in 2024 and the early 2025.

Yes, personal savings can be utilised to meet the financial needs of a UK Fiance Visa. Applicants must demonstrate they have held the necessary amount in savings for at least 6 months before applying.

According to the latest update, the cost for applicants outside the UK is £1,846. The fee frequently changes for the UK partner route, so be sure to check the home office website for the latest fee.

Processing times for a UK Fiance Visa can vary, but applicants should generally expect a decision from outside the UK within 12 weeks of submitting their application.

No, you cannot work in the UK on a Fiance Visa. This visa is specifically for those planning to marry or form a civil partnership in the UK within 6 months of arrival. After marriage, you are eligible for a spouse visa application, which enables you to find employment in the UK.

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Disclaimer

The information provided in our articles is intended solely for guidance and should not be considered legal advice. We do not assume responsibility for any liabilities arising from the information in written articles and recommend that all readers seek professional advice before taking any action. For those wishing to discuss their case with a professional, please feel free to contact us directly.

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