Proof of funds for ACT

[Guest journeydownunder]

Can anyone tell me how strict ACT are with the proof of funds.

 

Point in Time we don't have the cash in the bank as we are currently clearing credit cards at the rate of knots, however we have a savings plan in place that means that by April 2012 (the earliest we would be going - and thats only if there are no delays in the visa process - ha ha!!! which we all know is quite unlikely!!) we will have the required funds in cash. I know other states seem less strict on this and just ask for one bank statement but ACT seem to want 3 months? Does this need to be an itemised 3 months or can it just be a balance statement for each month?

 

My OH has £20k in equity in his home as back up but we don't plan to need to rely on that.

 

Has anyone been in a similar situation and if so what did you do? All advice really appreciated!!!

 

Thanks

[GavCar]

Can anyone tell me how strict ACT are with the proof of funds.

 

Point in Time we don't have the cash in the bank as we are currently clearing credit cards at the rate of knots, however we have a savings plan in place that means that by April 2012 (the earliest we would be going - and thats only if there are no delays in the visa process - ha ha!!! which we all know is quite unlikely!!) we will have the required funds in cash. I know other states seem less strict on this and just ask for one bank statement but ACT seem to want 3 months? Does this need to be an itemised 3 months or can it just be a balance statement for each month?

 

My OH has £20k in equity in his home as back up but we don't plan to need to rely on that.

 

Has anyone been in a similar situation and if so what did you do? All advice really appreciated!!!

 

Thanks

 

Hiya,

 

We are in the same positon! We don't have any money at the mo cause we've been paying off loans and paying for the visa stuff. I emailed ACT yesterday and they said that a savings plan wasn't good enough but they would accept proof of equity and some cash. Although did not state whether that 'some cash' needed to be 3 months. I have replied asking if a mortgage statement and 3 valuation letters will suffice (by the way we are not planning on selling our flat we want to rent it out but I think the idea is that we COULD sell it if we needed to) so I'm waiting to hear back on that. We are now frantically trying to organise 'some cash'! But at best will only be 2 bank statements and is likely to be between £2,000 - £5,000 I really hope it's good enough.

 

I hope we get some more replies because I would also like to see other peoples experiences. Stay in touch, it's nice to 'meet' people going to the same state :smile:

 

Cara x :wubclub:

 

ps here is a copy of their reply (btw its nice that it's personal & not automated)

 

You will need the financial criteria. We will require either evidence of $30,000 in the bank for at least 3 months, or assets in property and some cash in the bank to support your trip and settlement. Our concern with a savings plan is the ‘what if’ factor e.g. losing job, early visa grant etc.

[kellyjamie]

us 2 so we would love to see what ACT reply to you? please keep in touch

Kel & J:wubclub:

[GavCar]

Yeah sure, I'll let you guys know the reply tomorrow (hopefully)

 

So have youguys got your skills assessment? We sent ours off to TRA last week. Thought we'd prepare for state sponsorship in the meantime. I really hope we can meet the criteria.

 

Cara

[Guest journeydownunder]

Yeah sure, I'll let you guys know the reply tomorrow (hopefully)

 

So have youguys got your skills assessment? We sent ours off to TRA last week. Thought we'd prepare for state sponsorship in the meantime. I really hope we can meet the criteria.

 

Cara

Great! - Let us know what they say!

 

I am just waiting on one more document for my skills assessment which I should get back this week hopefully and then I will be sumbitting it (VETASSESS).

 

We too are preparing the stuff for the SS, It's pretty much just the proof of funds thing that I need to sort. Other than that I think we're ready to send off the application once the skills assessment comes back. Although my occupation on the ACT list is "Limited" with a requirement for 7.0 on the IELTS test so I am booked in for that on the 15th Jan.

 

Keeping fingers crossed for everyone - you too Kelly & J.

 

I will let you know how we progress.

 

Good Luck everyone

 

Emma

x

[GavCar]

Just to let you all know that I've compiled another email asking for detailed information - see below. I don't know if you guys are short of points after 1st July but we are so I thought it would help our case anyway!

 

I will post the reply tomorrow (hopefully)

 

Fingers crossed for us all!

 

Cara

 

Sorry to email twice in a row but I have some additional questions for myself and also others that are also wanting to apply for ACT sponsorship. I thought it might be better to collate the questions in one email rather than you being bombarded from several different people.

 

1. What evidence do you require with proof of assests in property?

2. If equity evidence is provided, how much would also 'some cash' look like (would $4,000 - $8,000 be sufficient)? And do you still need 3 months of statements or would 1 or 2 be sufficient? (the reason for these questions as we are all on a very short timescale being that we don't have enough points after 1st July and also may need to collate the money from more than one account.)

3. Is each case looked at individually or is it 'set in stone'

[kellyjamie]

we already have a skills assessment and booked in for ielts on 8th jan so just the proof of funds that will restrict us so fingers crossed

goodluck to all of us x

[Guest journeydownunder]

Thanks Cara thats really helpful, let's see what they say!

 

I was just Reading something on another blog suggesting ghat the quota for ACT would pretty much be taken up by existing applicants? Has anyone else read anything about this? I have emailed ACT to ask the question but just wondered if any of you had already looked in to it?

 

Em

x

x

 

Thanks

[GavCar]

Thanks Cara thats really helpful, let's see what they say!

 

I was just Reading something on another blog suggesting ghat the quota for ACT would pretty much be taken up by existing applicants? Has anyone else read anything about this? I have emailed ACT to ask the question but just wondered if any of you had already looked in to it?

 

Em

x

x

 

Thanks

 

I haven't heard that and I really hope not! Let us know what they say tomorrow x

[GavCar]

Hi guys,

 

Got feedback as follows but really isn't good news for us anyway with the timescale restraints. So I Think that's the end of ACT sposorship for us :arghh: That leaves lodging a 175 visa or the possibility of sponsorship from another state if the SMP's come out & the criteris isn't so strict & the application timescales aren't too bad. Tending towards getting the 175 in at the moment so looking into that.

 

email one:

 

Would it be sufficient to provide evidence of the mortgage and 3 estate agent valuations? yes

 

email 2:

 

1. What evidence do you require with proof of assets in property? evidence of the mortgage and valuations

2. If equity evidence is provided, how much would also 'some cash' look like (would $4,000 - $8,000 be sufficient)? We can’t answer this question as it all depends on individual circumstances and your current financial situation. There is scope in the guidelines for you to submit a request for waiver by providing supporting statement , evidence of property and research into cost of living as you don’t meet the criteria. You must decide whether you want to submit an application on the understanding that we may not accept your request for waiver

And do you still need 3 months of statements or would 1 or 2 be sufficient? (the reason for these questions as we are all on a very short timescale being that we don't have enough points after 1st July and also may need to collate the money from more than one account.) The money does not need to be in one account - we need three months of statements for each of the accounts

3. Is each case looked at individually or is it 'set in stone' - There is scope in the guidelines for you to submit a request for waiver

 

 

Cara, back to the drawing board for us :cry:

 

 

 

[kellyjamie]

does this not work out for you guys? x

[GavCar]

does this not work out for you guys? x

 

No because we don't have any savings yet, so we would have to get the money together and hold it in the bank for 3 bank statements before we could even apply. Looks like we are going to apply for SA now as we are on their interim list and they don't require proof of funds. Happy with that so hopefully will still all work out OK, we've enlisted the help of Go Matilda with the state sponsorship part.

 

If you can meet that criteria then that's fab x

[Guest journeydownunder]

That's good that you have another option. We should be able to scrape together enough funds to be ok on that front (just) however my occupation is only on the ACT list I think and its limited on there. Julianne at ACT has said that its very popular as well so if it fills up before I get the VETASSESS back then I'm not sure where we go after that? I could possibly get skills assessment form Australian Institue of Management for Sales & Marketing Manager but its meant to be very difficult and I think we would need to use a really good agent for it which won't be cheap, with no guarantee of success!

 

I'm just worried I have gone through weeks of pulling together information for the VETASSESS to then get the skills assessment and then find out the occupation is full!!! ARRRRRRGH!!!

 

The only upside for us is that I will still be ok with the new points system so if we are delayed on the State sponsorship front then it doesn't matter too much (apart from the trauma and stress of course!!!)