sharedealing account

ellissa

Hi all

I made an application to Computershare for a share dealing account and the application was declined.

The letter said they had consulted Callcredit, CIFAS and Synectics Solutions Ltd but that it did not necessarily mean adverse info was held for me.

I'm now worried as I've always had a fantastic credit rating, no late payments or abused credit. Nothing. I applied for a mortgage last month and was accepted (the bank said I had the best rating possible) and I also got a 0% credit card then too - could this be why my share dealing account was declined or should I be worried - identity fraud etc???

My fiancee has appauling credit but we are not financially linked in any way. All my credit is in my sole name. I have no debt myself as the mortgage isn't even open yet. Could it be that because my other half has bad credit at my address that it has affected me??? Any other possibilities???

Can anyone shed any light please? I'm in panic! I have just posted my subject access request to callcredit.

Much apreciated
Ells

ricll

had a look on their website and they seem to be more businesses-oriented, I couldn't even see if they had a sharedealing service for private investors. Maybe that's why you were rejected, try H-L or Hoodless Brennan or iii or selftrade or any other broker. You shouldn't have a problem, I don't even think these sharedealing brokers check credit ratings.

Edit: actually they do check your credit when applying for a spread betting account, but don't think they do for a sharedealing account.

PurpleBox

ricll wrote: »

Edit: actually they do check your credit when applying for a spread betting account, but don't think they do for a sharedealing account.

Yes - they will do an ID and credit check as most brokers provide a leverage (extra money to buy stock before settlement) facility.

You may wish to look at your credit file - see:

http://www.moneysavingexpert.com/loans/credit-rating-credit-score

This can be done for as little as £2.00 - I've done it myself.

As for a broker - I use NatWest, their more expensive but have never let me down!

PurpleBox

ellissa

Thanks guys, I've sent my request off to call credit so I should be able to check it in the next few days. Gonna leave signing up with a company until I've checked my credit file as I'm aware too many declines can affect ratings too - better not chance it.

Computershare is for personal too as far as I'm aware - my dad uses them. It's him who got me to sign up.

sabretoothtigger

compushare specialise in small private share holders afaik

They dont let you buy on margin afaik so why is a credit check even needed

ellissa

Is compushare the same as computershare???

I'm not being rude, just not sure. I'm new to all this share dealing stuff - well not even 'new' actually, they wont give me an account to class myself as new!

sabretoothtigger

yea sorry I was refering to computershare

compushare, looking at their website I dont recognise them

Who do you bank with, its likely they'll let you setup an account buy shares and the money transfer could be quicker also.
Computershare are actually crap, they'll send you a cheque when cashing in which will mean money wasted in interest

Send me a pm with your email & name and I'll get a referral sent from a broker I deal with. These companies have to check identity, so being a registered voter, etc helps