Firstly, if you drop out then your Student Finance will stop at that point and you'll be asked to pay some of it back immediately (see below). You only get Student Finance while you're a student. If you rely on it to support yourself, then you need to carry on going through the motions where you are.
If you're sure that you want to leave your course, then as I see it, your main considerations are how you might be able to support yourself when you leave and whether you can afford/deal with the financial consequences. The longer you stay on your current course, the more debt you rack up.
However, do bear in mind that if you leave part way through a year, you will be expected to return things like grants, bursaries and scholarships which would otherwise have been non-repayable. It may be worth considering hanging on until the end of the academic year and doing the bare minimum to get through. It won't work for everyone, but depending on your financial situation and feelings, it may be more pragmatic.
If you're in student accommdation, then you won't ge permitted to continue living there if you drop out officially. Also, you'll probably find that you're tied to your accommodation until the end of the academic year anyway. Most unis won't let you out of the contract and you'll be expected to pay up to the end of the academic year whether you live there or not. It's another argument for maybe staying on, going through the motions, and officially dropping out at the end of the academic year.
Looking ahead, you would have enough Student Finance entitlement to start another degree from scratch if you want to (as long as you haven't done any uni-level study before your current course). You'll be fine with the finance for a transfer to the second year elsewhere if you can swing it, but if you can't, you can still try another degree if you want to.
If you want to transfer to the start of a second year elsewhere, you will have to pass your first year where you are now.
Summing all of that up, given what you've told us I'd either 1) commit to passing the first year where you are and start preparing to transfer to the second year elsewhere, or 2) decide to start a new degree from scratch next year, get through the next few months as a student where you are and then drop out at the end of the academic year.
If money was no object then I'd advise leaving now and starting fresh next September, but it seems like that isn't financially possible from what you've said.