Martin Lewis has issued a warning to anyone with Virgin Media.
The consumer champion has provided financial advice as people across the UK struggle to cope with the cost of living crisis. The finance guru regularly shares tips on shows such as Money Show Live, Good Morning Britain and This Morning.
The 50-year-old also keeps his followers up to date on social media with the latest financial tips. Martin has taken to Twitter to send a warning to Virgin Media customers that prices are set to soar.
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He said: "Virgin Media customer? It's announced it is putting most prices up by an average 14% this Spring, but watch out for the letter, as it means you can leave penalty free or haggle."
Martin shared a link to his Money Saving Expert website as he urged customers to try and beat the price hike. The increase will hit most Virgin Media cable companies in the UK, which includes those with broadband, TV or fixed-line phone packages.
The rise will come into effect on April 1 or May 1 - and Martin urged people to act as research has shown 85% of Virgin Media customers had success with negotiating their price down.
Martin shared a guide on how to haggle with Virgin Media to bargain your price down and the Money Saving Expert team advised customers to find another provider if they cannot negotiate a new deal.
They added: "If Virgin won't play ball, vote with your feet. The provider has confirmed that ALL customers affected by the price increases can leave their contracts without paying any early termination charge – this includes those with bundled services. You'll need to contact Virgin Media within 30 days of receiving notification of the price increases to do so.
A Virgin Media spokesperson said: "We know that price rises are never welcome, particularly right now, but like many other businesses we are experiencing significantly increased costs while investing to keep pace with growing demand, as broadband usage rose more than 10% last year and speeds increased by 40%. We’re committed to supporting customers in this tough climate and are freezing prices for vulnerable customers including those taking our social broadband tariffs.
"The introduction of inflation-linked price changes, which comes into effect in 2024 when RPI is projected to be at around 1.5%, will give customers clarity and certainty about what to expect from their bills while fuelling the investment required both now and in future. We will be clearly communicating these changes directly to our customers over the coming weeks.”
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