Cheapest way to transfer / sell shares?

sc52

My Mother wishes to transfer her pep/isas to my sister and myself. I have decided that I will probably sell my half of the shares. However, my Mother pays royally for any such transactions, as she is with a major stockbroker, and I would like to keep costs to an absolute minimum.

What is the cheapest way to transfer and then sell the holdings and how much will it cost?

Total value of peps/isas is 250K (125 each).

Thanks

cheerfulcat

She can't transfer the shares inside the wrappers. What she can do is sell the shares, take the cash and give it to you.

As to the cost - what broker is she with now? It may be cheaper to move the ISAs ( they are all ISAs now ) to another broker before selling but that depends on what her current broker will charge for a transfer.

Bear in mind that there may be IHT considerations.

sc52

Thanks for your reply cheerful cat.

I realise what you say about the wrapper and transferring, I'm just looking for the cheapest option to sell the stocks - I've got it down to a flat £40 per trade - alot cheaper than my Mother doing it - but can I get any lower?

Thanks

cheerfulcat

Well, she could transfer the ISA to Selftrade - they offer a bonus to new customers referred by existing ones ( MSE thread here ). The ST bonus offer is £50 but some people are offering a portion of their own bonus as well. Selftrade will also refund up to £100 of the transfer fees charged by her current provider.

After that, it will cost £12.50 per trade to sell the shares. Don't know whether this is the cheapest way out - depends on what the transfer fees - but may work out better than the £40/trade?