Money blog: Lender cuts mortgage rates after 'clear signs' from Bank of England

Leeds Building Society has announced cuts of up to 0.25% on selected fixed-rate deals. Read this and more in the Money blog - your place for consumer and personal finance news. Leave a comment on the stories we're covering, or a Money Problem, below.

"Hopefully this is the start of things to come and the general narrative around mortgage rates will become more positive. The price cap was introduced in January 2019 to prevent people on variable tariffs being ripped off. Initially it changed a couple of times each year - but since 2022 it has been updated every three months.

The cap doesn't represent a maximum bill. Instead it creates an average bill by limiting how much you pay per unit of gas and electricity, as well as setting a maximum daily standing charge . For those wanting to explore the Aegean coast, British Airways is now offering flights from Heathrow to Izmir from 18 May.

Home improvement giant Kingfisher reported a 25% fall in profit before tax for the last financial year 2023-24 and warned its profit in the current year will fall short of expectations. There were difficult trading conditions for its brands in France and Poland but those in the UK and Ireland did better, withMoving on to oil, and conflicts in the Middle East and between Russia and Ukraine are increasing concern about global oil supply, This, of course, pushes up prices..

To qualify for this, each parent must earn less than £100,000 per year, be employed and earn at least the equivalent of working 16 hours a week at the national minimum wage, or be enrolled on an undergraduate, postgraduate or further education course that is at least 10 weeks in length.All three and four-year-olds living in Scotland are entitled to at least 1,140 hours per year of free childcare, with no work or earnings requirements for parents.

Aside from this, all parents of children aged three or four can apply for at least 12.5 hours a week of funded pre-school education during term time. But over 90% of three-year-olds have a funded pre-school place - and of course this is different to childcare.- Working parents in the UK can claim up to £500 every three months for each of their children to help with childcare costs. To claim the benefit, parents will need to open a tax-free childcare account online.

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