Rate Cuts - Banking - London

[TracyTrace]

Any other banks out there cutting contractor rates in time for Christmas?

And if so by what %?

Nothing says 'Merry Christmas' like 'Take it or leave it'

[d000hg]

Any other banks out there cutting contractor rates in time for Christmas?

And if so by what %?

Nothing says 'Merry Christmas' like 'Take it or leave it'

Yes. 10-15%. Oh well, hopefully you hada decent rate so 10% off is still better than nowt.

[MrRobin]

If I remember correctly, I've seen a couple of posts here over the last week or so saying Barclays cut rates by 10% and BNP Paribas 15%

Which bank are you at?

[tarbera]

Round 1 Cuts so far

Any other banks out there cutting contractor rates in time for Christmas?

And if so by what %?

Nothing says 'Merry Christmas' like 'Take it or leave it'

BARCAP - 10% rate reduction across the board from the 5th of December
15% rate cut at BNP Paribas.
RBS GBM 10% Cut
RBS GTS 10% Cut a month later than GBM
Citibank 10% Cut
UBS 10% Cut
Lloydes 10% cut

anyone who I have missed???

We now will have the 2/3 week imposed breaks at xmas + round 2 in Feb

[TracyTrace]

Worse Than I Thought

I had no idea the rate cuts were so wide spread.

Well you can add HSBC to the list at 10% with 30 days notice as of last week.

Not like there's anywhere else to go to at this time of the year so I guess I'll be saying 'Yes Sir. Thank you Sir. Three bags full Sir' until the market improves.

[tarbera]

opps

I had no idea the rate cuts were so wide spread.

Well you can add HSBC to the list at 10% with 30 days notice as of last week.

Not like there's anywhere else to go to at this time of the year so I guess I'll be saying 'Yes Sir. Thank you Sir. Three bags full Sir' until the market improves.

almost forgot i think it's Lloydes doing an additional 10% reduction on next renewal

ooop and forgot to say

All the rate cards have been slashed by 25% + so can no longer hire at old rates either, a 400/Day BA is now a 280max

[bluedrop]

What about those like me joining one of these banks next week or later?

[northernladuk]

What about those like me joining one of these banks next week or later?

I would expect the rate cut has been factored in to your role by now but surely the best thing to do would be speak to your agent?

[russell]

What about those like me joining one of these banks next week or later?

Take the percentage figure next to the name of your bank and divide it by 100 then subtract that number from 1. Now multiply the result by your current rate.

HTH

[SneakySimon]

What about those like me joining one of these banks next week or later?

They will welcome you in, sit you down and advise of the 10% rate reduction