Martin Lewis has urged anyone with a mobile phone to send a straightforward text message to prevent a substantial increase in charges from providers – and revealed it could cut costs in half immediately. On his ITV Martin Lewis Money Show Live, the financial expert said consumers are facing price rises – but a remarkable 14 million are out of contract and could switch with no penalty.

Most UK mobile phone contracts increase on or around April 1 each year. So Mr Lewis outlined three steps individuals should take to ensure they’re not overpaying by hundreds of pounds. And he said there’s also a ‘cheat code’ which could mean you only need to do one thing to get the bill reduced.

He said: “Mobile contracts typically rise even if you’re mid-contract around £2,50 a month. Here’s what you do – three steps. Text INFO for free to 85075 to check if you’re free to switch because 14 million of you are out of contract and free to switch.

“What you’re looking for is you’ll get a text back in most cases. From a multiple phone contract, you can’t do it. And if it says ‘no early termination or cancellation charge’ you are free to switch. If you’re free to switch go on to a SIM comparison site.”

Viewer Christopher said:” I changed my mobile contract and saved myself over £338 a year and the process was so easy. Thanks Martin!” Mr Lewis elaborated on comparison sites, stating: “Remember £2.50 is the average it’s going up on the contract. Lebara 10GB Vodafone signal is the equivalent of over a year of £2 a month.

“Not going up £2 a month – paying £2 a month, 10GB, unlimited minutes, unlimited calls up to £5 a month. When I say equivalent, that’s what actually happens is you pay £1 for 6 months on some of them and then £5 for 6 months and you get a voucher that goes in and you add all that in and divide it over a year ant it’s £2 but it’s so much cheaper than many are paying.”

“Talkmobile 100GB £9 a month or £11 a month, depending on which comparison site. If you’re saying to me ‘I need my signal’ there are only 4 networks in the UK. All other networks piggyback on them. A good comparison site you’ll be able to say ‘I only want this network’ show me all the different companies that use the same signal and I want to find the cheapest on that.

“Finally, to keep your number text PAC to 65075 to give you a code to give to your new provider. But I have a cheat code here. I prefer you to do all 3, but if you don’t want to and you’re out of contract, just text PAC to 65075.

“What they often say is ‘Here is your PAC code, we’re sorry to hear you’re leaving. How about if we charged you half what you’re currently paying to stay with us – would you stay?’ You never know, it might just work.”

He pointed out that customers on joint family mobile packages won’t receive a response, but previously outlined his general principle that if you haven’t switched provider in two years, you’re probably out of contract. He added, “Next, you do a cheap SIM comparison.

“Most of the deals are not available direct from the mobile phone companies because then they might have to give them to existing customers, and are only on comparison sites, and they tend to be short-lived.

“My main message. Do that text, see if you’re out of contract and check before prices go up. Whether you can save a shed load by switching, hope that helps.”