Hi, I am getting a loan to purchase a house. My lender is giving me a better interest rate if I transfer stocks to the Lender's Brokerage platform. I wanted to know if the restrictions that I currently have with my work related stocks are also carried forward to the Lender's brokerage like: 1. Restrictions on Options Trading on RSU stocks 2. Trading Windows Also if someone has done this earlier, then do you know if the future unvested stocks would be vesting in my current brokerage account or if they would go towards the bank's brokerage platform? #mortgage #homeloan
How are you going to track cost basis if you transfers it out of your custodian?
I had the same question. But from what I read online about transferring stocks between brokerages, I should be able to use the cost basis for the stocks from the initial brokerage to calculate the profits. I haven't done this in the past, so not sure about the exact procedure.
You’d have to track it yourself I guess. Keep us posted on this. Got some stock I’d love to move to a different broker
Yes when you transfer vested stocks to your lender’s brokerage, all the restrictions still hold on those RSUs and you are the one who should track so that those restrictions are not broken. The future unvested stocks continue to stay with your current brokerage. For cost basis, download the cost basis in your current brokerage and save it. You need to use that while filing tax when you sell them from the banks brokerage. Hope this helps.
Thank you!
I think the answer technically is yes to both. Pretty easy to look up though
Thanks for the response! I was unable to get definitive answers online. Will confirm with the brokerage platforms too, but just wanted to check if someone has done smth similar.