A new study shows that nearly 11 million homes that switched broadband providers during the pandemic could switch to more expensive “standard” services when contracts expire.
According to Compare the Market, over the past two years, nearly 41 percent of households have switched to a broadband provider, while 29 percent have done so because of working from home during a pandemic.
Most broadband deals are available as 12, 18 or 24 month packages. As a result, millions of people are faced with the opportunity to switch to a more expensive standard contract by the current provider.
As the cost of living is rising and people continue to work from home, households need to check their broadband connection packages so that they don’t pay more than they need to.
Millions of households can switch to a more expensive “standard” service
When asked how much the price of their broadband connection would rise at the end of their initial contracts, the average respondent to the ‘Compare the Market’ survey said it would increase by an average of £ 31 a year.
However, according to Ofcom, the average price increase for non-contract households is almost twice that amount.
On average, out-of-contract households pay around £ 4.70 a month from the provider’s average price, or an additional £ 56 a year.
If the price goes up to £ 25 a month, research shows that there is an increase in the intention to switch for a number of consumers.
3 out of five respondents said they would consider replacing the provider when the contract expires.
The study shows that the broadband market is suffering from switching inertia, which could leave many households on more expensive contracts as 59 percent of households have not changed in more than two years.
Fifteen percent said they had never made contact with respondents 55 and older, probably because they had never replaced a broadband provider.
The main reason people change provider during locking is broadband speed issues, with 39 percent citing it as the reason.
However, for most people who choose a broadband connection, the reliability of a broadband connection is more important than paying a low price.
Customers are advised to find out if they can find a cheaper broadband connection on the Internet
About 66 percent of respondents described the reliability of broadband as important, while 31 percent described low cost as important.
Mubina Pirmohamed, head of digital at Compare the Market, said: “Over the last two years, we have seen households change their broadband provider.
“Working from home tested people’s broadband connection reliability, and many decided to move on to find a better provider.
“The converts are now nearing the end of their initial contracts and could be significantly more expensive if they choose to stay with their current providers.
“Shopping online and moving to a better deal will help people increase their broadband connection speeds and save money.
‘At a time when payments from energy to supermarket travel are on the rise, it’s important to determine if you can get better value for money by switching broadband providers.’
Use This is Money’s comparison service to see if you can find a better deal.
To get results, compare the market to a survey of 2,000 households.
Many still rely on broadband to work from home during a pandemic
The best broadband deals on the market
This Money has compiled a list of the best broadband connections currently on the market using Broadband Choices.
Virgin Media has a range of broadband fiber deals that customers can choose from.
The M100’s broadband fiber deal is £ 24 for 18 months, while the £ 50 Amazon voucher is at 108 Mbps.
For those who want faster internet, the M200, M350 and M500 offer speeds of 213Mbps, 362Mbps and 516Mbps, respectively.
Prices range from £ 28 to £ 36, with all contracts lasting 18 months with a £ 50 voucher. All offers expire on January 13, 2022.
Meanwhile, Vodafone is offering its Superfast 1 contract for £ 19.50 per month under a 24-month contract.
Customers will have an average download speed of 35 Mbit / s and those who join will receive a £ 100 Amazon voucher.
Those looking for a faster connection can join Vodafone’s Superfast 2 deal, which costs £ 20.50 per month and offers a speed of 55 Mbit / s with a £ 100 voucher.
With the cheapest deal Plusnet £ 18.99 per month for 12 months on an unlimited broadband network. Customers will also receive a £ 70 Plusnet reward card.
It also offers an unlimited fiber broadband connection for £ 22 per month for 18 months, with customers getting a pre-loaded £ 70 reward card in cash.
Its Unlimited Fiber Extra offer is £ 24 a month and also comes with a £ 70 reward card. All offers expire on February 2, 2022.
BT It has only a range of Fiber 2 broadband deals, priced at £ 29.99 for 24 months. Registered customers can use a £ 90 BT bonus card.
His Entertainment + Fiber 2 Only deal will cost £ 37.99 for the first 3 months until it rises to £ 45.99 on a 24-month deal. It also comes with a £ 90 BT reward card.
Finally, the Sport + Fiber 2 Only package costs £ 44.99 for 24 months with a £ 90 BT reward card. All discounts expire on January 13, hurry up.
Heaven Superfast Broadband is offering an average download speed of 59 Mbit / s for £ 25 per month under an 18-month contract.
|End date||Provider||Product||Contract length||Monthly payment||Installation fee||Exclusive|
|January 13-22||Virgin Media||Only M100 fiber broadband||18 months||£ 24.00||£ 0.00||£ 50 voucher|
|January 13-22||Virgin Media||Only M200 fiber broadband||18 months||£ 28.00||£ 0.00||£ 50 voucher|
|January 13-22||Virgin Media||Only M350 fiber broadband||18 months||£ 32.00||£ 0.00||£ 50 voucher|
|January 13-22||Virgin Media||Only M500 fiber broadband||18 months||£ 36.00||£ 0.00||£ 50 voucher|
|January 27-22||Vodafone||Supertez 1||24 months||£ 19.50||£ 0.00||£ 100 Amazon voucher|
|January 27-22||Vodafone||Supertez 2||24 months||£ 20.50||£ 0.00||£ 100 Amazon voucher|
|January 13-22||BT||Fiber only||24 months||£ 29.99||£ 0.00||£ 90 BT reward card|
|January 13-22||BT||Entertainment + Fiber Only 2||24 months||£ 45.99||£ 0.00||£ 90 BT bonus card and £ 37.99 for the first 3 months|
|January 13-22||BT||Sport + Fiber 2 only||24 months||£ 44.99||£ 0.00||£ 90 BT reward card|
|February 02-22||Plusnet||Unlimited broadband||12 months||£ 18.99||£ 0.00||£ 70 Plusnet reward card|
|February 02-22||Plusnet||Unlimited fiber||18 months||£ 22.00||£ 0.00||£ 70 Plusnet reward card|
|February 02-22||Plusnet||Unlimited fiber supplement||18 months||£ 24.00||£ 0.00||£ 70 Plusnet reward card|
|January 27-22||Heaven||Superfast broadband||18 months||£ 25.00||£ 0.00||No|
|Source: Broadband selections|
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