Martin Lewis' two month price rise warning to anyone who has broadband
11 January 2023, 16:06 | Updated: 11 January 2023, 16:08
Money Saving Expert Martin Lewis has issues a warning over broadband prices this year.
Martin Lewis has warned anyone who has broadband they could be facing a hefty price increase.
The Money Saving Expert has said bills could potentially rise by as much as 15 per cent in March due to inflation.
He explained that many broadband companies in the UK have clauses in their terms and conditions allowing them to raise prices by inflation, plus four per cent.
Taking to Twitter, he said: “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!”
Martin went into more details during his ITV Money Show earlier in the week where he said: “If they enact them this year, and the likelihood is they will, this could mean 15%ish hikes this spring.
“This usually happens in April for most of the major broadband providers, which is going to be another hit for many people.
“If you’re paying £40, that’s £6 a month extra. Even switchers’ deals will probably do this but of course, it’s £6 a month extra on £40 or if you pay £20 a month, it’s only £3 a month extra.”
Followers were quick to comment with their own experiences, as one Tweeted: “Just cancel & shop around. Many have an exit clause if they increase prices.”
Another said: “Yes I’m unhappy with my broadband hikes but reliability and speed is integral to my home job rather than cost being the only factor so I dare not move…”
A third wrote: “Same with many on mobile contracts, potentially expecting big rises too.”
“It’s good to get this advice but sometimes I just wanna stick my head in the sand and not know!,” said a fourth.
Read more:
- Martin Lewis reveals simple 1p saving challenge which could save you £700
- Martin Lewis explains why you should never put the washing machine on between 4pm and 7pm
