Many customers are frustrated with their broadband service. Despite this, Brits are more likely to get a new mortgage than move broadband supplier. Thankfully for many it has just got much easier to switch broadband supplier and get a better deal.
You may not be aware but across the telecoms market, 30% of customers have never moved broadband provider, 43% have never left their pay TV provider, 31% have stayed loyal to their mobile network and 32% have been with the same home phone provider since the beginning.
And staggeringly, even though 68% of the broadband deals currently advertised last just one year or less, only 16% of customers have actually switched their broadband supplier in the last 12 months.
Of those who’ve never moved broadband supplier, a quarter say it’s not worth the hassle or it’s too complicated.
Problems with moving broadband supplier are not helping and in fact are costing affected UK households a staggering £83 million in potential savings on their bills.
Those that have switched saved an average of £36 on their annual broadband bills, with 10% of customers having saved more than £50.
How do you switch broadband supplier?
This research comes as industry watchdog Ofcom has changed the rules governing how customers switch broadband suppliers.
This means that the new broadband supplier (people want to move to) will handle the whole process, rather than the provider the customer is leaving.
The good news is that this applies to those switching from and to broadband on BT Openreach, which includes BT, Sky and TalkTalk customers.
The bad news is that it doesn’t apply to customers on Virgin Media’s network, over four million broadband users
The new rules don’t apply to mobile and pay TV customers either.
Ewan Taylor-Gibson, broadband expert at uSwitch.com, commented: “While we’re getting the hang of switching some home essentials like car insurance, when it comes to broadband, pay TV and mobile, people are nowhere near as proactive.
and continued “Industry-wide changes are needed to have far more of an impact. The price difference between the cheapest and most expensive broadband deals on the market right now is £120 per year, so we’re not talking about small change.
“Moving providers or moving deals really does save people money, so it should be simple for consumers to do.”
Diane Ray, MoneyHighStreet.com commented: “Clearly some progress is being made in terms of easing the broadband switching process, but clearly there is more to be done to further improve matters.
“That said, we all really do need to take charge of our personal finance matters and ensure we have the best deal, whether it be insurance, mortgage or indeed telecoms related. We are all too easily distracted and in the main don’t give the focus needed – there is always something more important!
“Maybe it’s time to ‘grasp the nettle’?
“With regards to your broadband, to reiterate, there are now two different types of process for switching your supplier – ‘gaining provider led’ and ‘cease and re-provide’.
“Which process you follow largely depends on what provider you’re switching to and from and the type of connection you have or are looking to change to.
“The length of time it will take will depend on the services you have.
“Regardless of the process you follow, you have a 14 calendar day period from the date you enter a new contract with a new provider in which you have a right to cancel your request to switch without being charged.
“The Ofcom website Ofcom website sets out the details for each of the processes and gives wider broadband help which you may find useful.
“Bottom line – take action, check your broadband deal, check current broadband deals available and if need be, switch broadband. You are in control!”