If you have been with your broadband provider for over a year, you might expect to save money for customer loyalty.
But the latest figures from consumer group Which? reveal that suppliers are hitting loyal customers who stay past their introductory contract with price hikes of up to £192.
Negotiating new deals
Although you don’t necessarily have to change provider if you’re happy with your existing service, you may need to negotiate a new deal if you’re being charged an excessive amount.
Which? looked at 12 of the biggest broadband providers, analysing entry-level fibre broadband and phone deals.
Research found that payments of existing customers could rise by a staggering 60 per cent.
Bumping up costs
This research revealed that Virgin Media were the worst for bumping up costs, with some customers facing a potential price increase of up to £192.
Similarly, the Post Office’s entry-level fibre broadband package for new customers begins at £24 a month, but for those who choose to stay, the monthly cost rises to £37 a month – increasing by 54 per cent.
This means that, over a year, customers would end up paying £156 more than they did previously.
John Lewis claimed the fourth spot for broadband companies who increase the costs for existing customers. The price of fibre broadband with the company increases by 38 per cent after the initial 12 month period finishes, rising from £27.50 to £38 – and costing £126 more per year.
Further down the list, Vodafone has one of the smallest increases. It’s Superfast 1 deal rises from £24 a month for the first 18 months to £27 a month – which is £36 more over a 12 month period.
TalkTalk, SSE, Plusnet, Sky, BT and EE also all make the list.
‘Secure a good deal or shop around’
Just two of the suppliers investigated by Which? – Utility Warehouse and Zen Internet – kept their prices the same for existing customers, with no rise in cost for Utility’s Ultra Fibre Broadband or Zen’s Unlimited Fibre deal.
Natalie Hitchins, Which? Head of home products and services, said, “These findings continue to show it is imperative that broadband customers who are out of contract either contact their supplier to secure a good deal or shop around and look to switch elsewhere.”
“While there is nothing wrong with staying with your supplier if you are happy with your service, it is worth noting that without doing anything at the end of the minimum term you could end up paying over the odds. You might save yourself a lot of money by haggling.”
This article was originally published on our sister site, Sunderland Echo.