Extra cash needed by old gypsies

Hilarious_2

Moving house, and need around £10-20k to finish the move and refit the new house. We can:

1. sell ISAs from our managed fund to that value and keep up the monthly payments to the fund as usual;
   
2. stop current contributions to the Fund and redirect the monthly payments to service a loan of some sort which may be either

• a 2-4 year mortgage (I'm 70) or
• a 2-4 year loan
• something else?

Any suggestions from the wise and/or oldies who have done this before/recently?

Looking at the fixed rate 'Cheap mortgages' page, I was surprised to see the APR unchanging whether the loan was for 4 or 24 years. Is 25 years built into the APR calculations? If so, it's devisers are sadder than I though they were.

Sarahspangles

Unless you can find a loan or mortgage that has a lower interest rate than you are getting on your ISAs it looks as though avoiding borrowing would be cheaper. And it's more in your control, the approvals to get loans and mortgages take time, and there may be fees attached. Especially for a mortgage.

Thrugelmir

Hilarious wrote: »

I was surprised to see the APR unchanging whether the loan was for 4 or 24 years. Is 25 years built into the APR calculations? If so, it's devisers are sadder than I though they were.

There's no profit in short term lending at such low rates. Too many people expect something for nothing.

Sell your investments. There's little point in incurring and paying interest.