Money Saving Expert founder Martin Lewis let out a swearword today (Jan 10) on Twitter as he dropped a bombshell about broadband price rises. The financial guru said that people could see their broadband bills potentially rise by as much as 15 per cent in March due to inflation.
Mr Lewis added that many of the broadband companies in the UK have special clauses in their terms and conditions allowing them to raise - without any consultation - prices by inflation, plus four per cent. With it currently running at around 11 per cent this could mean huge increases ahead.
He tweeted: “Working on tonight's @itvmlshow updating the energy bill situation, broadband and water bills. Broadband is very worrying, many have clauses allowing them to increase prices mid contract by CPI or RPI + 4%. That could mean in March 15%+ rises for many. Sh*t!”
Read more: Martin Lewis says 7 million UK households earning less than £40,000 could be missing out on benefits
The news was greeted with concern by many and a lot of users revealed they had been hit by big rises already. Catherine replied: “It’s what other companies have been doing. Vodafone hiked up mobile bill 10% mid 2021!”
Ste said: “Rip off Britain.... again #CostOfLivingCrisis” Danny Lee Kerner replied: “If that is the case then wow, we should be allowed to quit contract without fees. I’m sure my vodafone is following this rule. I’m already paying 50+ pounds so this would mean I will pay 60.00+”
Veronica Bretherton said: “Omg thanks for letting us know. Is there anyway we can avoid this” The Duchess of Success said: “We have OGI broadband being installed around me. Nothing for 6 months, then £30 pm after that. I’m still with TalkTalk at £22 if they go up, then I’ll just leave.”
This week. squeezed households were urged by Which? to get ahead of any upcoming price hikes to TV, broadband and mobile packages by haggling and switching. The consumer group asked more than 5,100 people whose broadband, TV and broadband and/or mobile phone contract had ended in the previous 12 months whether they had haggled or switched and how much money they had saved.
It found that, on average, TV and broadband customers saved £162 by switching away. Customers who did not switch but took the time to haggle with their broadband and TV provider saved an average of £90 a year, according to the survey findings.
There were also big savings to be had for broadband-only customers who switched, with the average being £92. Broadband customers who haggled saved £43 typically.
When Which? spoke to mobile customers whose contracts had ended in the past 12 months it found that customers saved an average of £95 by switching and £62 by haggling. The survey also revealed that just over a fifth (21 per cent) of broadband customers and around one in six (16 per cent) TV and broadband customers did nothing when their contract ended.
Mobile customers were even less likely to take action with a quarter (24 per cent) of those surveyed telling Which? they had not switched or attempted to haggle. Which? recently launched a campaign calling on businesses in essential sectors: supermarkets, telecoms and energy, to do more to help their customers through the cost-of-living crisis.
The Martin Lewis Money Show Live is on ITV at 8pm tonight (Jan 10)
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