Silly noob question on withdrawing money from shares

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  • masonic
    masonic Posts: 23,278 Forumite
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    Personally, I'd access the easy access P2P money and make up the balance with the loan, leaving emergency cash and S&S intact. That would probably leave you in a position to repay the loan without being a forced seller of investments.
  • Fatbritabroad
    Fatbritabroad Posts: 573 Forumite
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    Also a good option masonic yes that's what I'm considering how much to use and from where
  • Alexland
    Alexland Posts: 9,653 Forumite
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    I had a good experience borrowing from Zopa to fill our ISAs at the end of last tax year. I borrowed over a long period (to keep minimum repayments low) but repaid early with no penalty within a few months. I signed up via topcashback and the bonus covered a chunk of the interest.

    I also referred my wife who took a £1k loan for £50 bonus each and we paid most of the loan back straight away and the rest when the bonuses had paid.

    So overall we made a small profit from using Zopa.

    Alex
  • takesyourchances
    takesyourchances Posts: 828 Forumite
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    edited 15 January 2019 at 11:23PM
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    masonic wrote: »
    Personally, I'd access the easy access P2P money and make up the balance with the loan, leaving emergency cash and S&S intact. That would probably leave you in a position to repay the loan without being a forced seller of investments.


    Reading through all options, I would go with this one too after reading it. You don't want to run your 11k cash down too low and something unexpected happens and while you are re-building cash back up. This is a decent cash buffer, but going down too low it won't take much to strain that.



    I would take out the easy access P2P out towards your needs as suggested by masonic, P2P can be bumpy as we know and I would keep your investments in S&S intact. Your 6%-7% could easily head south so I would use this money while you are ahead and save taking out the loan yourself.



    I am increasing cash at the moment myself as I have filled my S&S ISA to April, partly to increase my buffer up and also getting ready for April for the S&S ISA.



    Best of luck with the work you are planning, it is good to also enjoy something like this that will add to your life, while we all like to accumulate here it is nice to be able to add to life in other ways :)
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    I'd liquidate the P2P myself. If there's a downturn might not be such an active secondary market. P2P hasn't yet had to face a difficult economic period either. Yields are relatively low for the risk exposure.
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