State sponsorship and assets

[Guest guest8040]

Thought I'd post here as this is one of the friendliest forums ive found and until lists changed in July we were headed for Adelaide! Now having to apply to ACT. About to apply for ss and they want to see proof of hard cash in bank accounts. We have £65-70k equity in our house and this will fund our dream. Now we have been presented with this huge hurdle that looks fairly impossible to vault but I've never read about any one else having this problem? Surely I'm not the only person looking to emigrate without £30,000+ lolling about in a bank account (I wish!). How on earth do you get round this? I'm not prepared to move until we've sold our home and I'm not prepared to sell it until I have a guaranteed visa. Any advice greatly appreciated before I succumb to a complete meltdown!

[Guest ovel]

According to the sponsorship criteria there is not required evidence of financial capacity. Look here: http://www.migration.sa.gov.au/sa/immigrate_from_overseas/visa_options/gen_skill3/criteria_for_state_spons.jsp#Number_11

 

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[TD=bgcolor: #99ccff]11. Financial Capacity

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[TD=bgcolor: #ffffff]11.1 Applicants must ensure that they have sufficient funds for settling and living when they arrive in South Australia. Applicants should not dispose of any assets before the visa is granted and these funds must be available upon arrival in South Australia. Evidence of financial capacity is not required.

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I've just written that I will have 60k obtained by the moment of moving, but in all probability, I will not have such a bunch of money by that time.

[Guest Adelaide_bound]

Unfortunately Ovel, thats just SA - the other states want proof (untrusting bleeders!)

 

Thewhitehouse - can you beg/borrow/steal money from anywhere to put in your bank account, get the statement, then give it back? Take out a loan and pay it back immediately (check for early repayment clauses)? Do a combination of above? Is there anything on the ACT Immi site that says about being able to prove equity instead of cash, and provide them with statement from Estate Agents on worth vs mortgage statements to prove it? (Probably not from what you have said, but thought I'd put it out there).

 

Can you sell off anything that you wouldn't be taking with you now, ie downgrade a car possibly or sell off any assets (got a Picasso in the loft? ) to raise it?

 

Sorry I can't be of much more help - it was yet another reason we picked SA because there was no way we could raise the money and prove we had that much - we won't be going out with that much at all, and I know our families couldn't/wouldn't help us out, so if we had to prove it, it would be game over for us.

[Guest guest8040]

Thanks AB that clears a lot up - oh how I wish we were still SA bound I'd never thought about moving money, getting a statement and moving it back, we may have that option with my dads permission, thanks so much!

To me the fact that you pay state sponsorship, IELTS, assessment, agent fees etc should prove you are committed and the fact you are not willing to move until you are sold up and have equity to bring over shows you are sensible and responsible but for them that is not the case!

[stevenw8971]

If they ask, (as your advised not to dispose of any assets before your visa is granted) show them your mortgage statement against a house valuation that should be enough to show you have the required funds to support yourself

[Guest guest8040]

Oh and thanks to you too Ovel! If only we were applying for SA SS

[Guest guest8040]

Steven it seems not, you cannot use assets in fixed property or land. You can ask for a waiver using the info u you suggest but it has to be supplemented by recent bank statements (ours ain't pretty) plus cost of living planning and statement of how you will support yourself if your property doesn't sell, and quite simply we couldn't!

[Guest ovel]

Oh and thanks to you too Ovel! If only we were applying for SA SS

 

Sorry, seems I've overlooked the question was about ACT SS.