25,000 People a Day Are Being Ripped Off By Big Broadband Providers
FOR IMMEDIATE RELEASE
- Research by Compare Fibre reveals that the big incumbent broadband providers are ripping off 25,000 customers per day. Raising their prices by as much as 89% when the initial broadband contract ends
- 90% of all UK internet subscribers are at risk of price hikes, with the main culprits being BT, Virgin & TalkTalk
- The $6m investment in Cuckoo is an example of the growing momentum behind Altnets. Broadband network owners offering UK consumers more for less
- Now more than ever, it's vitally important to shop around and read the small print when buying a broadband connection.
Lockdown has identified that UK broadband is not fast enough for modern life. Traditional broadband suppliers have not changed with the times to deliver what customers want. Complaints are at an all-time high, almost 40% higher than in other sectors.
Customer trends are changing. Demand for broadband isn't just focused on speed. Other factors are growing in importance, such as value and contract flexibility.
Providers offer significant discounts to new customers. At the end of the offer, prices rise by as much as 89%. Customers get ripped off once the contract period ends, and a customer doesn't change their service provider. Approximately 25000 customers a day are believed to roll on to this charge without realising.
Nathan Hill-Haimes, the co-founder of broadband price comparison site www.comparefibre.co.uk, says, "Customers want more! They are also becoming more intelligent when it comes to broadband choices. Consumers are not going to stay with who they always have with long contracts and high exit fees. They will shop around and move to another provider."
Hil-Haimes added, "Cuckoo is another new entrant to the fleet of Altnets offering more for less, with no sneaky catches. Most Altnets provide a simple choice of packages that are far more transparent to the average broadband buyer. For example, Cuckoo offers one deal, one speed and one rolling monthly contract. Importantly no hidden fees! That is not to say that other ISPs aren't looking at this as well - B4RN, Freeola and Hyperoptic all have one-month rolling contracts - If the incumbents don't want to lose market share, then they need to sharpen their offering. Maybe the more prominent suppliers need to look at this trend!"
"The bottom line is if you are a BT, Virgin, or TalkTalk customer and you haven't changed your broadband provider in the last 24 months, you'll be paying way too much."