Your group will have to show that you have £9,000 in a bank account ringfenced solely for the purpose of sponsoring. Depending on the part of the country you were from, you might need to raise more money than that. In expensive areas such as London, we recommend that you aim to raise at least £12,000.
On the other hand, you could find that this money is not all spent. Some variables include:
- Whether you find a house rented at social housing rates, or if your group will contribute towards rental costs each month
- The needs and progress of the refugee family you sponsor
- Whether you have to pay for professional interpreters, or you have enough volunteers for this role
- How much you receive in in-kind donations (e.g. furnishings, initial groceries, clothes, etc.)