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selling certificated shares

edited 30 November -1 at 1:00AM in Savings & Investments
1 reply 2.8K views
xxdeebeexxxxdeebeexx Forumite
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edited 30 November -1 at 1:00AM in Savings & Investments
Hi I have quite a few paper shares that have been in the cupboard for about 15 years. My OH has some too. I don't think they are worth much but we would like to sell them in the most cost effective way. We are not in a hurry so we thought the best way to do this was to combine both lots of shares (like for like) transfer them into CREST so that we can sell them electronically.

But how do we do this ?? and will it cost ?

TIA

Dx

Replies

  • gt94sss2gt94sss2 Forumite
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    xxdeebeexx wrote: »
    Hi I have quite a few paper shares that have been in the cupboard for about 15 years. My OH has some too. I don't think they are worth much but we would like to sell them in the most cost effective way. We are not in a hurry so we thought the best way to do this was to combine both lots of shares (like for like) transfer them into CREST so that we can sell them electronically.

    But how do we do this ?? and will it cost ?

    To sell your shareholdings, I suggest you join Selftrade.

    Selftrade charge £12.50/trade to sell your shares by telephone or online and their accounts have no annual or inactivity charges - so you don't need to worry if you never plan to use them again..

    In addition, it is possible to get £80 for joining Selftrade if you are referred by an existing customer. That means - depending on the number of shareholdings - Selftrades referral scheme may more than cover the cost of selling your shares.. perhaps even leaving you with a net profit :)

    Here is Selftrade referral thread - my own details are in post 282..

    Before you can sell your shares, you would need to transfer the shares to Selftrade.

    Depending on the number of shareholdings and taking the referral scheme into account, you could decide to:

    1) open one Selftrade account each (2x the £80 referral payments) or
    2) open one joint Selftrade account or
    3) open one account just in one persons name.

    The advantages/disadvantages of each of the above are:

    1. You would qualify for two referral payments instead of one (assuming the shares are worth over £500/person) and you would not need to change the name of the person on the share certificate.

    2. You would not need to change the name of the person on the share certificates as its a joint account.

    3. You would need to change the name of the shareholding to the name of the Selftrade account holder. This can be done by contacting the Share Registrar of each company - details should be on your share certificates.

    Regards
    Sunil
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