FINANCE expert Martin Lewis has issued an urgent warning over broadband increases.
Martin told viewers about the potential hikes on the latest episode of The Martin Lewis Money Show Live.
1
The MoneySavingExpert.com founder discussed the broadband and mobile increases that could (and have) been coming into effect this week.
He said: “Remember for the rest of this week, probably from tomorrow, we’re going to get the December inflation figures.
“That’s normally what broadband costs are increased on – and they do it above inflation.”
“I’m expecting 15% rises for broadband to be announced on many of the big providers this week.”
The finance expert wasn’t wrong as today The Sun revealed that BT, EE and Three were going to up their rates by up to 14.4% in April.
While Virgin said it’ll increase its prices based on February’s figures.
Most telecoms providers announce prices around this time of year, with changes usually coming in in April.
The exact amount more you pay will depend on how much your bill is now, but for some could add more than £100 a year to bills.
Most read in Money
Martin then suggested customers shop around for better deals or haggle for the best price – a trick he often tells shoppers to do .
He said: “So go now, look if you can get a cheaper price on a comparison site then use that as a benchmark.
“And if you’re one of those many million of people who are out of contract, then call up your provider and say “look I want a cheaper deal or I’m going to go”, and if they don’t do it, then maybe leave.”
One viewer wrote in to say that he had saved over £1,000 by haggling.
He said: “After watching your show I got onto my media supplier as my contract was up for renewal.
“I did a bit of haggling and got a saving of £1,661 over the 18 months. Many thanks.”
How do I haggle with my provider?
If you want to stick with your provider – or any early exit penalties mean it’s not worth switching away – haggling down your bill is easy and it shouldn’t affect your current contract.
Call the provider and say you’re unhappy with the price as your contract is due to roll over.
You can let them know you’ve found a better price somewhere else, or that as a loyal customer you want to know if you can get a better deal.
You can use comparison sites like Uswitch or Comparethemarket to do this, and find the best deals on the market.
Once you are armed with a better deal, speak to your provider and tell them you have found something new.
When they hear you’ve taken the initiative to look elsewhere, they may be more open to negotiation.
The worst they can say is no, and you’re no worse off, you’ll know then that it’s time to shop around for a cheaper deal.
If you are still in your fixed contract though and are struggling to make payments for your broadband service, it’s always worth speaking to your provider, in case you can move down to a more affordable package.
You should also take a look at what you actually watch or use as part of your contract, and cut out the add-ons you’re paying extra for.
Part of MSE’s top tips is to approach your haggle calmly, not accept the first offer thrown your way, and don’t feel pressured to fill the silence.
Instead wait for the sales rep to come back with a better, cheaper offer.
Timing is also key, always set a diary reminder for 40 days before the end of a contract.
Once you’ve agreed to a deal, you have a 14-day cooling off period so you can always change your mind if you’re not happy or find a better deal.
Some internet firms including BT and Virgin Media offer social tariffs, allowing customers on Universal Credit to access cheaper broadband.
Do you have a money problem that needs sorting? Get in touch by emailing [email protected]
This post first appeared on thesun.co.uk
