Savings, investments, LISA and property.

[oscrim]

So long time lurker but don't post much. After some advice from anyone and everyone on finances, think I've got it planned but want to check.

I'm 27, working abroad and luckily have no living costs of any sort (except alcohol or luxuries) due to the job, also legally don't have to pay tax of any sort (best ~£150 I ever spent so tax advisor does the paperwork) however there is zero pension possibilities. Only thing I have in the UK is my car.

I currently have 50k sat in my current account that I've realised isn't doing much. I earn around 4k per month depending on exchange rate with euros. Looked in to property, specifically buy to let, however not sure if the hassle is worth it, certainly for the next few years.. Especially when I essentially live abroad.

So current thinking is:
-Open a Lifetime ISA (LISA) with Hargreaves Lansdown and max that every year, investing in a low risk fund and this gives me peace of mind for old age, however I can also call on it for the first house purchase if needed.

-Max the rest of my ISA on a medium/high risk fund with a s&s ISA.

The question is with the chunk left over do I put it into an investment fund (I believe I wouldnt have to pay tax on any earnings from this until I reach my tax threshold of £11850) or pay off my student loan of 12k? Part of me hates debt but I know the student loan is one of the cheapest loans I'll ever have. Should I buy a house and start getting mortgage repayments down fast to get a house in and mortgage free asap?

Is the general plan a solid one? Im not into business or finance at all however this whole brexit thing worries me and makes me dubious about entering either the investment or housing route in case either drop out in the next year or two. I know I am financially very safe but just want the money to work for me some more and not just sit wasted.

Cheers just for reading.... Still tempted to scrap it all and buy my dream car that I would never use.

[ellroy]

Can't open an ISA if you're not resident.

A general investment account, take advice locally in your area for any tax implications, would achieve the same general results.

[oscrim]

ellroy said:

Can't open an ISA if you're not resident.

A general investment account, take advice locally in your area for any tax implications, would achieve the same general results.

I am indeed a full resident... Working as a seafarer has the perks of being tax free, all the usual rights, but none of the dodgy weather and tax on income.

[xeny]

oscrim said:

So current thinking is:
-Open a Lifetime ISA (LISA) with Hargreaves Lansdown and max that every year, investing in a low risk fund and this gives me peace of mind for old age, however I can also call on it for the first house purchase if needed.

-Max the rest of my ISA on a medium/high risk fund with a s&s ISA.
.

Somewhat simplifying, you want the investment with the longer time horizon to contain the riskier assets, so consider which of these you'd tap into first, and put the riskier investments into the other one.

[springfan62]

watch the charges with H-l or for that matter whoever you use.

H-L accounts charge 0.45% with a max of £200 per annum on shares but if you invest in funds they take 0.45% on all of it.
You can invest somewhere else like Interactive Investor who charge less or you can buy ETF's which are effectively funds which are traded as shares.

Keep an eye on the charges for the ETF as well. Passive funds are much cheaper and arguably more consistent also.