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Discussion Starter #1
If i dnt earn the £18600 required of me i am earning less can someone else help towards the £18600 by topping my earnings up with theirs?
 

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No, although you can meet the shortfall with savings you have held for six months.

Example, you earn £16,600 so are short by £2,000. £2,000 x 2.5 = £5,000, plus £16,000. You would need to hold £21,000. This money can be a gift, but must truly be a gift with no expectation of repayment.
 

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No, although you can meet the shortfall with savings you have held for six months.

Example, you earn £16,600 so are short by £2,000. £2,000 x 2.5 = £5,000, plus £16,000. You would need to hold £21,000. This money can be a gift, but must truly be a gift with no expectation of repayment.
I'm sorry I don't seem to understand... If I want to use savings then I have to show I have £21,000 and not £18600.

I earn £12,500 short fall of £6100. If my parents were to gift me that say as a wedding gift will that be okay?
 

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The formula is (shortfall x 2.5 + 16,000). So you would need £6,100 x 2.5 + £16,000 or a total of £31,250 held in savings for six months before you could apply. This is in addition to your earnings. The £18,600 needed earning does not change, but the savings amount varies depending on how much you are short in your earnings.

If you are receiving it as a gift, you'd need to have documentation from your parents, such as a letter stating the money is a gift and copies of their bank statements showing the money was moved from their account to yours. They would have to have sufficient funds that the gift is not a financial burden to them.

It must truly be a gift and not a loan.
 
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