funds- bank borrowing

[at9459]

is it ok to borrow from bank( unsecured personal loan) and show it as immediate liquid money though the property I own is worth CAD$ 600,000.

 

[alice_chained]

What difference does it make, when you fill out the visa specific forms they will ask you for your liabilities which you have to declare.

when you declare your liabilities it will nullify the loan you use for liquid cash.

 

[aanbaan]

oh! do they ask you to make your Net Asset statement at the time of passport submission?

 

[alice_chained]

No you have to send Visa Specific Forms along with the full set of Documents when submitting to your local Visa Office.

 

[aanbaan]

in which section does this animal live?

 

[ja77]

this visa specific form to show the liabilities is only for the London visa office. and i know from your other posts that you are also a london office applicant. this form is not available/asked to be submitted with other visa offices.

 

[aanbaan]

thnx for the clarification ja77. i'm in new delhi office.that's the reason i had not heard of it

 

[ja77]

no problem aanbaan. and good luck with sending your documents next week .

 

[Gregor]

Hey ja77, could you let me know where does it say that you should show liabilities for London office.
According to London guide the follwoing documents are required;
SETTLEMENT FUNDS
Refer to the "Proof of Funds" section of our Web site for exact figures and
instructions.
Provide proof of unencumbered and readily transferable funds in a convertible
currency available for settlement in Canada (for you and your family members):
• current bank certification letter; or
• evidence of savings balance; or
• fixed or time deposit statements.

thanks
Grgeor

 

[ja77]

i'm not a london office applicant. but i believe this specific form is not on the main CIC website. this form is somewhere on the website for CHC london. we have london office applicants in this forum like BobbyB and alice_chained. you may direct your questions to them and they would be able to advise you better.

 

[Gregor]

Thanks ja77

 

[alice_chained]

it is on the London Canadian High Comission website. You have to send in visa specific forms that have the assets / liabilities section. You have to declare all borrowings.

What i did is that i have a car loan, so i got the car evaluated by a dealer which came in about the same as the loan amount. So i mentioned that when i get my PR i will sell the car at this market value, and still maintain the required balance.

 

[neelam13]

is it ok to borrow from bank( unsecured personal loan) and show it as immediate liquid money though the property I own is worth CAD$ 600,000.

Hey, i just got married recently and i am the primary applicant. Can i use my spouse's bank details as my own? we dont have a joint account and planning to open one but am already on the deadline for my ontario pnp application submission