Selling Lloyds Shares

mills112

I got a letter through the post today from Equiniti, offering to charge 6p a share (max £25) to sell my 487 shares.

They seem to be doing a sweeping exercise to get rid of small holders.

I am inclined to think I should keep the shares as they are expected to increase in price and advice on google search is that you should buy these shares rather than sell them.

Any opinions?

Eco_Miser

Lloyds themselves (as Scottish Widows Share Dealing) will sell any amount for only £5.

ETA: That's not a special deal for Lloyds shares, it applies to any shares on the London Stock Market, and several overseas stock markets.

wmb194

https://forums.moneysavingexpert.com/discussion/6687127/selling-lloyds-shares

Transfer them in specie to e.g., Trading212 or Freetrade and sell them for free. £25 to sell £500 worth of shares is a rip off.

kipsterno1

There maybe a fee for transferring the shares to another broker but it is likely to be less than £25. The forms and details of how to transfer are on the website.

mills112

https://forums.moneysavingexpert.com/discussion/comment/82171966#Comment_82171966

really? wow, what a total rip off by equiniti then! they made it sound like it was a cheap deal to get rid of the small holding at 6p a share expense.

mills112

is it possible to transfer them as shares into my HL fund and share account? although there is a dealing fee of £11.99 on HL.

wmb194

https://forums.moneysavingexpert.com/discussion/comment/82172321#Comment_82172321

Yes, you should be able to but do you hold them as certificates? If so, many brokers no longer accept the lodgement of certificates but last I checked SWSD does (no ongoing account fee, £5 per trade).

SevenOfNine

I inherited total of 341 (Lloyds & HBOS) around 2009, never been worth the bother selling! Mostly no dividend p'ments & when there were any it was so negligible I didn't even notice.

Pity I didn't picked National Grid & BP, my brother chose, & took dividends in shares over the years.

mills112

https://forums.moneysavingexpert.com/discussion/comment/82172339#Comment_82172339

they are held digitally with Equiniti as I got these from the Halifax, which were changed to Lloyds. this is why I got the letter from Equiniti to ask me to sell them for a low adminstration cost.

wmb194

https://forums.moneysavingexpert.com/discussion/comment/82172462#Comment_82172462

Should be easy, then. You ask the broker you want to transfer them to to initiate it for you.

FrugaiMacDugal

Maybe this will help.