Martin Lewis has shared his thoughts on how to cope with a rise in broadband bills. The 50-year-old founder of Money Saving Expert addressed the matter in the latest episode of ITV’s The Martin Lewis Money Show.
Martin began by commenting on how December’s crucial inflation figure was revealed to be 10.5%, something which he called “huge”. He then explained: “In most broadband and mobile phone contracts, that is the figure that allows them to do mid-contract raises.”
For those people in a contract with their broadband provider, Martin revealed that there was “little you can do other than diarize when it ends”. He did, however, suggest ways in which you can get around a rise in bills. In the UK, many broadband and mobile providers hike their prices each year to combat the inflation rate and rising business costs.
Read more: Martin Lewis issues warning over 'worrying' 15% broadband price rises this spring
Martin described how 7 million people are out of a broadband contract and can therefore switch to a cheaper alternative. “Get on to a comparison site where there are lots of short-lived deals,” he said, “There are deals where you can get like, £100 worth of Amazon vouchers if you switch. Don’t go directly to firms because you don’t get those bonuses due to the way the regulators work on that.”
He then warned that there was no way of assuring that “prices wouldn’t rise” but suggested that the rises could be significantly smaller in other companies. According to Martin, there is one other option.
“Of course some of you can just stick where you are,” he concluded, “If you’re out of contract, get on the phone and haggle. Tell them the prices that I’m talking about and ask them to match it.” He advised viewers to be “very polite and very charming” in their approach.
Earlier this week, in his Money Saving Expert newsletter, Martin weighed in on the rise in broadband costs, writing: "My heart sank last Wed, as the latest 10.5% CPI inflation was announced, as it's that December figure which many broadband and mobile firms base their April increases on. Yet they don't stop there - most lump a further 3 or 4 percentage points on top.
"Of course, just because it's in the contract, they don't need to invoke these rises, but since then we've had confirmation after confirmation that they're doing just that. Hitting many already struggling people hard.
"I wish the regulator Ofcom would crack down on this, though I don't hold out much hope. Above-inflation mid-contract rises are unfair and they push future inflation higher."
The Martin Lewis Money Show continues next Tuesday, January 31 at 8pm on ITV1. To get all the latest money-saving news straight to your inbox twice a week sign up here.
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