Share selling advise please - Newbie!

nastypasty

Hi everyone and Happy New Year!

Hopefully someone can help me. I have looked through the forums but i've just got more and more confused!

My missus has been left some shares from her Dad's estate. The share's are with Banco Santander. We need a new sofa and so would like to sell the shares. I've read about selling share's through online brokers such as Hoodless Brennan and all that seems simple enough. You just need the share certificate.

As quoted from Santander correspondence;
"Banco Santander doesn't issue Share Certificates. As your shares are recorded electronically in CREST, you don't need a Share Certificate."

The shares are held with Lloyds TSB Shareview with whom we have signed up an account with, and we can sell the shares through them (I think). Is this the only way we can sell them without the Share Certificate? Can we sell them this way without the Share Certificate?
Are there better ways to sell them? Or have I confused you too?!

Thanks, in advance, for your help

nastypasty.

gt94sss2

nastypasty wrote:

The shares are held with Lloyds TSB Shareview with whom we have signed up an account with, and we can sell the shares through them (I think). Is this the only way we can sell them without the Share Certificate? Can we sell them this way without the Share Certificate?
Are there better ways to sell them?

The quickest but most expensive way to sell them will be via the Lloyds TSB Shareview service.

As you quoted from the Banco Santander correspondance, currently the shares exist electronically and are held on your behalf by LloydsTSB - hence they can sell them any time you tell them too (no certificate needed)

However, assuming the shares are worth more than £500, the cheapest way to sell them however, is via Selftrade. If you are referred to Selftrade by an existing customer, they will give you £50 for joining (the existing customer gets the same)

What you would need to do is, once you have opened a Selftrade account, is fill in 'form E' and send it, together with a cheque for £11.75 payable to Lloyds TSB, to Selftrade so they can complete section 2.

This assumes the shares are now in your wifes name - otherwise you (or the person dealing with the will/estate) may need to fill in 'form A' as well.

This will mean that Lloyds TSB will transfer the shares to Selftrade - after which you can sell them with them. For this, Selftrade charge a flat fee of £12.50.

So far, you would have received the £50 and spent £24.25 - making an extra profit of over £25 by selling these shares.

However, Selftrade also have a policy of refunding upto £100/account of fees if you move shares to them from another broker - as such, if you ask them they should also refund you the £11.75.

Extra net profit over £36! Though it may take some time for Lloyds to transfer the shares to Selftrade.

If you are interested and would like me to refer you to Selftrade, just send me a Private Message with your wifes name and the email address you would like Selftrade to contact you on.

Regards
Sunil
PS: I've written this in a bit of a rush, so if anything is confusing/unclear, please let me know

plumb1_2

There is a referal link here http://forums.moneysavingexpert.com/showthread.html?t=91587
There are quite a few MSE members offering to refer you, take look through the posts, it is all quite easy to do.