One in seven consumers in UK paying ‘loyalty penalty’, says charity
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Citizens Advice says people should consider switching products such as mobile and broadband contracts or mortgages.
By Sarah Butler
About one in seven people could be paying a ‘loyalty penalty’ for products such as mortgages and mobile and broadband packages, according to Citizens Advice.
The charity said some UK households could save as much as £400 by switching, or seeking discounts, from their current suppliers.
Citizens Advice also said analysis of the budgets of 165,000 people who came to it for help with debts suggested people on lower incomes can end up spending nearly double the proportion of their income on telecoms that those earning more do.
Citizens Advice said it heard from a woman called Tracy who signed up to a £30-a-month package which included TV, landline, broadband and international calls in 2006. She relies on disability benefits.
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1 August 2022
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