Cost effective way of selling LBG shares

dreamypuma

I'm currently doing some housekeeping on finances and have the following query:

I hold a small number of LBG shares held with Equiniti (around £120). My understanding is that they would charge a minimum of £45 to sell these, which seems disproportionate.

Does anyone have a view on the most cost effective way to sell these? I typically hold ETFs in T212 ISA and an ii SIPP, so don't really want tiny pots of individual stocks to deal with.

Ideally I'd like to transfer these to a GIA account on T212 and dispose of them. But not sure how this is done.

Any useful advise would be appreciated.

wmb194

dreamypuma said:

I'm currently doing some housekeeping on finances and have the following query:

I hold a small number of LBG shares held with Equiniti (around £120). My understanding is that they would charge a minimum of £45 to sell these, which seems disproportionate.

Does anyone have a view on the most cost effective way to sell these? I typically hold ETFs in T212 ISA and an ii SIPP, so don't really want tiny pots of individual stocks to deal with.

Ideally I'd like to transfer these to a GIA account on T212 and dispose of them. But not sure how this is done.

Any useful advise would be appreciated.

As long as you don't have certificates it shouldn't be too hard to transfer them to T212: go into the menu and select, "portfolio transfers" and follow the steps. Equniti appears in the list of brokers, see picture below.

If you have certificates you could open and account with iWeb (soon to be Scottish Widows Share Dealing), lodge your certificate and then sell them for a £5 commission.

https://www.trading212.com/portfolio-transfer

FrugaiMacDugal

Seems simple enough here.

dreamypuma

Thanks both, that was painless. Do you know if there are any ridiculous charges from Equiniti? I'm sure the shares are CSN, so don't hold a certificate

wmb194

dreamypuma said:

Thanks both, do you know if there are any ridiculous charges from Equiniti? I'm sure the shares are CSN, so don't hold a certificate

Lloyds' CSN T&Cs document states £10 to transfer out.

https://www.shareview.co.uk/4/Info/Portfolio/default/en/home/help/Pages/Useful-Documents.aspx

https://www.shareview.co.uk/DocumentRepository/Documents/CSN/Terms/CSN_T&C_LBG.pdf

dreamypuma

wmb194 said:

dreamypuma said:

Thanks both, do you know if there are any ridiculous charges from Equiniti? I'm sure the shares are CSN, so don't hold a certificate

Lloyds' CSN T&Cs document states £10 to transfer out.

https://www.shareview.co.uk/4/Info/Portfolio/default/en/home/help/Pages/Useful-Documents.aspx

https://www.shareview.co.uk/DocumentRepository/Documents/CSN/Terms/CSN_T&C_LBG.pdf

Thanks I could only find the General CSN T&Cs.

I suppose it beats paying Equiniti £45

wmb194

dreamypuma said:

wmb194 said:

dreamypuma said:

Thanks both, do you know if there are any ridiculous charges from Equiniti? I'm sure the shares are CSN, so don't hold a certificate

Lloyds' CSN T&Cs document states £10 to transfer out.

https://www.shareview.co.uk/4/Info/Portfolio/default/en/home/help/Pages/Useful-Documents.aspx

https://www.shareview.co.uk/DocumentRepository/Documents/CSN/Terms/CSN_T&C_LBG.pdf

Thanks I could only find the General CSN T&Cs.

I suppose it beats paying Equiniti £45

£45 is for certificates. Looks like £20 for online CSN but you could call and check, IIRC someone in another thread said that Equiniti or one of the other registrars had special, low selling commission for very small holdings like yours.

Beddie

As above, check with Equiniti - I sold a small amount I had with them last year and was only charged £10. 

mopsymuffin

I have just sold some Lloyds shares held as CSN with Equiniti it was really easy & they only charged me £10. You have to sell them yourself as an online sale not phone. If you phone equiniti helpline first not the trading number, say you want to sell Lloyds CSN held shares they will give you a £10 discount code that you enter when selling the shares. It explains it as you go & was very easy. You complete your Bank sort code & account number & the money from sale is transferred to you in about 3 days. Do it all online & don't ask for a CHAPS payment which costs more also give your e-mail so they confirm everything online so no extra charges are incurred.