A new study has revealed that most Brits overestimate their broadband needs, leaving them overpaying for packages. One-third (34%) of internet users pay for speeds in excess of 150Mbps, but just a fifth (21%) actually needs broadband as fast as this.

The research states that 50 megabits per second (Mbps) is the broadband speed most users require, suitable for almost half (46%) of Brits. Users are now being encouraged to check the speeds that work for them to avoid overpaying for their internet or struggling with lagging loading times.

The figures come from Go.Compare, which surveyed the public on how they use their broadband and the speeds they pay for. It used this to work out what speeds they actually need.

The comparison site says that most Brits (one-fifth) pay between £25 and £29 per month for their broadband, while slightly fewer (16%) spend just under this, at £20 to £24 per month.[1] However, a similar percentage (15%) said their package falls in the highest price bracket of £40 or higher, whereas just 1% said their price is in the lowest range of less than £10.

Older users are the most likely to pay these higher prices. According to the study, 18% of those aged 40 to 54 spend over £39 per month on their broadband, as well as 17% of those aged over 54. In contrast, just 7% of under-25s pay these prices. Younger Brits are more likely to pay the least for their broadband, with 5% of this age group spending under £10 per month, compared to only 1.5% of over 54s.

This follows the news that 9.5 million UK households are overpaying for broadband, equivalent to just over a third (34%) of all broadband users.[2] This translates to a jaw-dropping £637 million overspent on unneeded speeds each year.

Matt Sanders, a broadband expert at Go.Compare, says: “Our latest research suggests that a large chunk of the country is spending more than it needs to on broadband, which is a real kick in the teeth when times are so tight.

“Everyone’s broadband needs are different, so it can be difficult to know what speeds you actually need. The key factors to keep in mind are the number of people in your household and what you tend to use your broadband for. Certain activities like online gaming and streaming 4K videos need faster speeds to run smoothly, and these speeds will be diluted if multiple devices are using the internet at once.

“So, if you live alone and only use the internet for general browsing like emails and shopping, you should be able to manage on relatively slow speeds. But, if your household is a family of four with multiple devices on the go, you might need to get faster speeds so that everyone can use the internet at once without being slowed down.”

More information on the different speeds needed for broadband users can be found on Go.Compare’s website.