Financial Tips for IMGs

This article will go over the costs for international medical graduates associated with applying for a Health and Care Worker Visa and what kind of issues to be aware of once you’ve entered the UK. It is certainly not exhaustive, there are several aspects I have not discussed such as transport, GMC Fees, Indemnity and other insurances etc. These are personal to you and the information is easily available online, therefore, if you have any questions then don’t hesitate to contact me via email at [email protected].

You can find more free Finance content here including our newsletter, budgeting sheet, free finance for medics course & other amazing content!

If you’re looking for Medical Indemnity, the MDU is the UK’s leading medical defence organisation. You can see more details about their membership here.

Key points regarding the Health and Care Worker Visa

The Health and Care Worker Visa is specifically for qualified healthcare and social care professionals who are in short supply in the UK. Those eligible to apply, benefit from a lower application fee and exemption from paying the healthcare surcharge. The visa can be for up to 5 years and can be renewed as many times as you want, as long as you keep meeting the criteria. You can also apply for indefinite leave to remain after 5 years of living and working in the UK.

Criteria

  • You must be a qualified doctor, nurse, AHP, or adult social care professional.
  • You must work in the health or care sector, for a UK employer approved by the Home Office, and have a “certificate of sponsorship”.
  • You only need to prove your English Language skills once- you can do so via your regulatory body (GMC/NMC) 

Associated Costs

Visa Application Fees

Up to 3 years: £232/person

More than 3 years: £464/person

The application fee (for you only) is automatically reduced by £55 if you are from Austria, Belgium, Croatia, Republic of Cyprus, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Luxembourg, Malta, Netherlands, North Macedonia, Norway, Poland, Portugal, Slovakia, Spain, Sweden or Turkey.

Proof of Sufficient Funds

  • Be able to show you have at least £1,270 available in a bank account.
  • Your partner will need to show £285
  • One child £315
  • £200 for each additional child

Remember that getting together all the necessary evidence and documentation will incur costs. You will need a valid passport with a blank page for your visa. You may need to have certain documentation certified, which may incur a cost.

Renting and buying a home

Renting a home

Because you will not have a UK address history, the estate agent you use may conduct some extended identity checks, these will take time. They are no longer allowed to charge application fees or administration fees so please do not pay these. They may require 6 months of rent payments upfront, do include this potential cost in your estimates.

Renting in the UK also attracts the following costs (not exhaustive):

  • Council tax
  • Water rates
  • Gas and Electricity
  • Internet/phone
  • TV License
  • Home Insurance

Buying a home

You will need a minimum 3-year address and employment history to get a mortgage. It is worth employing the services of a mortgage broker who is experienced with highly skilled migrants and doctors. I have included one that I have used and found very knowledgeable (there is no benefit to us for using Tom’s services).

You will likely need >25% deposit and may be offered shorter terms of the loan due to your visa. These should be discussed in-depth with your mortgage broker. There are many associated costs with buying a home (see my webinar on mortgages for doctors).

Exceptions to accessible public services

There is a full list of what you can and cannot do due to not having indefinite leave to remain. The key ones are below:

  • No recourse to public funds: You are not eligible for most benefits or the state pension
  • IVF Treatment: You are not eligible for IVF treatment on the NHS. You can access the service as a private patient.
  • You and your family that are on your visa will be considered international students for University tuition fee purposes and will not be able to access a student loan.

Resources

How useful was this post?

Click on a star to rate it!

Average rating 5 / 5. Vote count: 1

No votes so far! Be the first to rate this post.

As you found this post useful...

Follow us on social media!

We are sorry that this post was not useful for you!

Let us improve this post!

Tell us how we can improve this post?

Related Posts

Audits & Quality Improvement Projects
Audits & Quality Improvement Projects (QIPs)
Audits & QIPs are a way to identify issues, drive changes...
ePortfolio
e-Portfolio
Your e-Portfolio is an online tool to gather and store evidence...
Paediatrics
Applying to Paediatrics
On the one hand, you wear a Disney lanyard, with a pocket stuffed...

Follow us

Favourites

Newsletter

Trending Now

Understanding the MSRA
The Multiple Specialty Recruitment Assessment (MSRA) is a computer-based exam increasingly being used...
Doctor's Pay Calculator 2023
We’ve created a pay calculator to help you better understand your salary, how much tax you’ll...
Paracetamol Overdose
Paracetamol overdose is a common presentation in A&E and so you may often find yourself looking after...
Passing the Prescribing Safety Assessment (PSA)
The PSA is aimed at final year medical students and those graduating overseas to assess their competency...
How to take a psychiatric history
Psychiatry, as a specialty is unique in that diagnostic methods, rely very heavily on symptomatology,...
Common Viral Infections (exanthem) in Paediatrics
Viral infections are extremely common in paediatrics and a common presentation to paediatric A&E...
Audits & Quality Improvement Projects (QIPs)
Audits & QIPs are a way to identify issues, drive changes and assess the effects they have. It is...

Sign up for our awesome resources

Join over 25,000 users who have signed up for our free weekly webinars, referral cheat sheet & other amazing content!