UK Money

Bank account switching tool hailed

Yorkshire Bank got the most click throughs among people using the midata tool

A new service which enables current account customers to see in pounds and pence exactly how much better off they could be by switching provider is showing early signs of helping to shake up competition.

Upturn predicted after lending fall

Experts expect mortgage lending to increase despite a lending fall in April

Mortgage lending fell back in April - but banks and building societies expect to see a modest recovery in the coming months amid an "extremely competitive" choice of cheap home loans being offered to borrowers.

Cashless payments 'most popular'

The emergence of new payment methods such as mobile and contactless payments have challenged the dominance of cash

Cashless payments have become more popular than transactions using coins and notes for the first time, figures from the Payments Council show.

Mixed picture on household finances

People working in finance and business services were the most upbeat about their financial wellbeing

The squeeze on household finances eased to its weakest level in more than six years this month but people are becoming more downbeat about their longer-term prospects, a report has found.

Interest rate decision 'unanimous'

The Bank of England, where the decision was taken to leave interest rates on hold at 0.5%

Bank of England policy makers voted unanimously to leave interest rates on hold this month but were divided over prospects for the recovery and the likelihood of when the subdued pace of wage growth would start to improve.

Mortgage rates plummet sharply

Banks and building societies have been launching a string of mortgage loans featuring the lowest rates they have ever offered

Mortgage rates have plummeted so sharply in recent months that a borrower looking to fix their rate for five years will typically be able to find one cheaper than the average two-year fixed rate a year ago, a financial website has found.

Third fall below poverty line in UK

The ONS records someone as being in poverty if they live in a household with disposable income below 60% of the national average, before housing costs

Almost a third (33%) of the UK population - 19.3 million people - fell below the official poverty line at some point between 2010 and 2013, according to figures released by the Office for National Statistics.

SSE loses 500,000 customer accounts

Energy giant SSE blamed 'increasingly challenging and highly competitive market conditions' for a decline in customer accounts

Energy supplier SSE said it has lost more than 500,000 customer accounts in the last year, despite its pledge to freeze bills until at least July 2016.

More people 'saving regularly'

Just over two-thirds (68%) of people have managed to save over the last year, according to the Lloyds Bank Savings Report

More people now feel able to put money into savings regularly, a report has found, in further signs that consumers' finances are improving.

Energy firm remote heat ad banned

A Scottish Power ad claimed a trial of remote heating controls meant homes used their heating 20% less

A Scottish Power ad for a remote control heating system has been banned for claiming it could save customers up to 20% off their gas bills.

London costs 'hit living standards'

The high cost of housing in London has been cited as one of the factors affecting standard of living in the capital

A third of Londoners cannot afford a decent standard of living because of extra costs of living in the capital, such as housing and transport, according to a new report.

Supermarket deals 'don't stack up'

Which? accused supermarkets of manipulating customers' spending

Supermarkets are potentially flouting government guidelines with so-called "dodgy deals" on basic grocery items, a consumer group has warned.

Negative inflation 'is good news'

The ONS is to publish the latest official inflation figures

Inflation turned negative for the first time in more than half a century last month, according to official figures hailed by Chancellor George Osborne as "good news for family budgets".

New mortgages dip amid 'slow start'

Housing market activity is likely to pick up following the "slow start" in early 2015, the Council of Mortgage Lenders said

The number of mortgages handed out to first-time buyers shrank by 24% in the first three months of this year compared with the final quarter of 2014, banks and building societies have reported.