Calculating how I meet the financial requirement through Categories A and C: £18,679.66
Category A: With current employer for at least 6 months or more—person residing in the UK—Non-salaried income
Non-salaried income = (gross earnings from employment held throughout the 6 month
period, divided by 6) x 12
= ((651+ 981.39 + 1314.64 + 1074.39 + 969.77 + 973.64) ÷ 6) x 12
= (5,964.83 ÷ 6) x 12
= £11, 929.66 (evidenced by Barclays Bank Statement)
Category C: Non-employment Income- property rental
The monthly rental income is £1500 but I receive £850.00 (evidenced by Natwest Bank Statement), while the other owner receives the remaining £650. The rent is usually paid by the tenant on the 27th or 28th of every month. However, there was a late payment in January 2014.
The property is owned at the date of application and has been owned for the last 9 months and has been a source of income during that 9-month period.
= September 28, 2013 to May 28,2014. This is a total of nine (9) months.
=(Monthly rent ÷ Number of property owners)
= (£1500.00 ÷ 2) = £750
=(Rent received from share of property x Number of months)
= (£750 x 9)
So, using a combination of Categories A and C, the applicant’s partner has £18,679.66 in non-salaried income and non-employment income (£11, 929.66 + £ 6,750) the financial requirement of £18,600 is met.