If someone is feeling fed up with their home phone/broadband provider but has tied itself into a long contract, then now is the time you can buy the same for much less, with accordance to the telecoms regulator.

Since the past 18 months, Ofcom has been tied up with the three biggest UK landline providers, BT, TalkTalk and Virgin Media, to make sure that the charges when imposed on the customers can now end their contracts early.

Further Ofcom expressed that the three firms have agreed upon the maximum charges and seems to be good news for the consumers who were expecting the same.

But those who wish to escape BT contracts shall now have to remit between £2 and £5 for every outstanding month, depending on the package they take.

Those who wish to abandon TalkTalk early, shall have to shell out between £3 and £8 a month to escape, while Virgin customers may have to shell out £4-£9 penalty per outstanding month.

But prior to Ofcom's intervening, the customers have to shell out the full monthly tariff if they feel to leave their contracts early.

The partner for strategy and market developments, Ofcom's, Peter Phillips, expressed that they welcome the reductions made by BT, TalkTalk and Virgin Media.