Getty Images By Kevin Peachey Cost of living correspondent Mortgage rates should fall following the Bank of England's decision to keep its key interest rate on hold, brokers say. So far the response has been muted, with the Nationwide the only major lender to reduce mortgage rates since the Bank's announcement was made. Brokers expect more competition among lenders in the coming weeks. But they warn that changes are likely to be slow, with little prospect of the Bank rate being cut in the...

Getty Images By Kevin Peachey Cost of living correspondent Payments made with cash rose for the first time in a decade last year as consumers struggled with rising prices. But the number is still dwarfed by debit card use which accounted for half of all payments, its highest ever level. Consumers often say they find it easier to manage their money using cash. However UK Finance, which compiled the data, said it expected cash use to decline over the coming years, once the current financial...

Monzo By Kevin Peachey Cost of living correspondent Challenger bank Monzo has topped an official league table which charts whether customers would recommend their bank to family and friends. Its satisfaction rating has dropped by one percentage point compared to six months ago, but its score of 80% in Britain was higher than all its rivals. It is top on its own, having shared first place with Starling Bank last time, a survey of 16,000 people found. Starling is second, with First Direct in...

Getty Images By Kevin Peachey Cost of living correspondent Low-income pensioners entitled to pension credit are being urged to claim it or risk missing out on an extra cost-of-living payment. The government says those making a new claim in the next 10 days could get a cost-of-living payment worth £301. Hundreds of thousands of people who are eligible for pension credit do not claim it. This means they do not receive a top-up of the state pension, as well as other payments and...

Getty Images By Kevin Peachey Cost of living correspondent The UK should open more shared banking hubs to help those who feel uncomfortable managing their finances online, a charity has said. Bank hubs - which are spaces shared by several different High Street lenders - are meant to help communities that have seen all their bank branches close. But only four hubs have opened so far, while an average of 54 UK branches have shut each month since January 2015. Age UK said older or vulnerable...