Help! URGENT How do i sell Shares?

restart · 25 June 2009 at 11:58AM

Hi all, Ive never dealt with shares before, dont understand them, but had some with my morgage with Alliance & Leicester, now owned by Santander. I'm going through a divorce and have to sell them and want to know what is the best way. Ive just spoken to Santander sales who will charge £45 commission, given todays value of these shares are only £531 thats quite a chunk. Should i be looking to sell through Santander or is there another cheaper way, like brokers, banks etc?

p00hsticks · 25 June 2009 at 12:04PM

Have you actually got a certificate to show you own these shares? If so you'll be able to sell at any number of places. but if (as is most common these days) the shares are held in a 'nominee' account by A&L on your behalf then I suspect you'll probably either have to sell through them, or pay to get the shares put directly into your name so that you can take them elsewhere.

Johnhowell · 25 June 2009 at 12:07PM

For that amount of shares going through them will be the quickest and easiest method.

You could take the Share certificate into a High Street bank and try and sell there - but the commission will probably be more.

Going through a broker will be the same and take even longer, you will have to sign up to their terms - they will probably have to do Credit/Financial checks before opening the account for you. All takes time.

Good luck
John

restart · 25 June 2009 at 12:07PM

No I dont have a certificate, I think they are in a nominee account. I wanted to try and get them into my name (paying the Ex her half) but she will not allow this and wants them sold.

p00hsticks · 25 June 2009 at 12:10PM

In that case I'm afraid it's probably going to be cheapest / easiest to sell them through Santander / A&L

mikefullerton · 25 June 2009 at 12:34PM

Hi Restart,

Then i would recommend you to sell through some broker. There are many brokers around, i hope you will find the appropriate one that best suits your budget.

Regards
Mike
Fullerton securities india

restart · 25 June 2009 at 1:27PM

Many thanks all

sagalout1954 · 25 June 2009 at 5:28PM

I sold my mothers Cable & Wireless shares via here http://www.share.com/a/ Was recommended by Mail on Sunday (or Daily Mail) as a "reasonably priced share dealing firm" for low value shares.

Help! URGENT How do i sell Shares?

Comments

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Categories

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free