"One big concern I have is my employability. Since I won't be able to get a UK issued license I can't fly for easyjet or BA, not sure about the other airlines that need UK licenses. "
Is it really in accordance with EU legislation not to hire somebody on the fact that a locally valid certificate/licence is issued by another EU state? However, at some point or another all JAR certificates will probably be issued by the same authority.
Don't forget that you need to do the theoretical part of your training at a German FTO. However, you might want to look at JAR-FCL 1.065(b) but it's at the descretion of both authorities involved to accept the possibility to do your training under the supervision of more than one state (till you have your CPL issued that is).