How do I sell my shares ?? Help for a novice pls!

New_to_Budgeting

Hi All,

I am new to all this 'making your money work for you' but it seems everyone is up to it on this site and I want a piece of the action.

I have some shares, they are on a paper certificate issued by Lloyds TSB.

I am ready to sell over the coming weeks and want to know how to sell them when the time comes.

Do I sell through Lloyds (I think they charge £25 per trade) or is there another way of doing it, such as through my own bank, HSBC?

I dont want anything too complicated thanks!

ReportInvestor

For a one off sale with no hassle, the £25 route might be best. If you are going to buy & sell more regularly then set up an account with someone like

Selftrade

so that you can deal at a flat £12.50 fee. It's not the cheapest but I have found them reliable.

Were you a Lloyds employee on the sharesave scheme?

Although holding single shares is risky, the Lloyds shares have a healthy dividend - as you will be aware - and direct shareholding is a way of taking away the charges involved in equity investing through funds. Especially true if you already hold the shares.

But you may need the money, or not be able to afford/want to risk losing any/all of it - in which case, fair enough.

New_to_Budgeting

Thanks.

They are actually shares from WHSmith

But Lloyds are the people that issued the certificate, sorry if that was not made clear.

WHSmith have just issued healthy profits and I expect the share price will go up, I was going to take advantage of this and then put the money in a savings account as I dont 'need' it now.

ReportInvestor

I see. It doesn't matter who issued the certificate.

If you've got a paper certificate you can sell through any High Street Bank e.g. HSBC or a broker.

cheerfulcat

If the shares are worth more than £500 you could consider opening an account with Selftrade via a recommendation from an existing customer, as they will give both parties £50. It will cost £12.50 to sell the shares once you have dematerialised them ( costs nothing, just send them the certificate + a share transfer form ). PM me if you want a rec.

New_to_Budgeting

Thanks for this, so I can transfer and keep them in a 'file' with another company and havent got to sell them straight away - can I set a thing where I can say, sell if they got up to a certain price?

gt94sss2

New_to_Budgeting wrote:

Thanks for this, so I can transfer and keep them in a 'file' with another company and havent got to sell them straight away - can I set a thing where I can say, sell if they got up to a certain price?

Yes, you can.

These are called limit orders

Regards
Sunil