Have help to buy ISA, but possible relocation abroad

Mackle

I've been putting money in to a help to buy ISA for just over a year, with the intention of getting on to the property ladder.

My employer has offered me the opportunity to relocate from London to Frankfurt - as you can probably guess, the idea is being sold as a "fantastic opportunity" that will "avoid Brexit".

If I was to accept a move to Germany, I was wondering:-
1) What happens to my help to buy ISA? Can I still carry on paying in to it? Do I still get the bonus if I buy a UK property?

2) Am I still able to get a mortgage on a UK property, from a UK bank or building society, if I'm living in Germany?


I don't see a move to Germany as being permanent, so how best to utililse my H2B ISA is something that's foremost in my mind.

Neil_Jones

You can keep it open but you wouldn't be able to add to it while you're abroad, plus to claim any bonus you have to be a UK resident for that, much like you had to be one to open a H2B in the first place.

As to a mortgage on a UK property while living in Germany... I don't see why not as it works in other countries (non-dom and all that) but may be provider dependent.

I suppose a lot depends on whether you ultimately become a German citizen, or do what Lewis Hamilton does - born in Britain and has the British anthem played when he wins a race but he actually lives in Monaco.

Mackle

Most racing drivers live in Monaco or Switzerland.

Even when I was going up, one of my boyhood idols Nigel Mansell moved to the tax haven of the Isle of Man...


Anyway, thanks for that Neil, explains everything I wanted to know


Given all of the thousands of jobs that are supposed to be moving from London to Frankfurt, I'm surprised that I've not seen lots of threads about Brexit-Germany-relocations (and if it's seen as a good or bad opportunity when it's offered)