Have help to buy ISA, but possible relocation abroad

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
2 replies 1.2K views
MackleMackle Forumite
72 Posts
edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
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.

Replies

  • Neil_JonesNeil_Jones Forumite
    6.2K Posts
    Ninth Anniversary 1,000 Posts Name Dropper
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    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.
  • 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)
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