Mobile network launches £10 a month broadband package to rival Sky, Virgin and BT You might need to be lucky to start the contract, though. The contract price undercuts all other broadband providers on the market. (Image: PA ) The UK mobile network provider Giffgaff has announced that it's launching its own broadband service with it rolling out in the next few weeks. Offering 500mbps download speeds, the provider is offering the service at £10 per month, well below what its competitors are charging [via Mirror Online]. On top of the low entry price, the network provider is offering an additional cash incentive to try out the new product. Giffgaff will pay you £50 once the broadband is installed, plus another £50 after the first month of the contract. With that essentially working out at a net cost of £20 over the 12-month contract, it seems like an absolute no-brainer for anyone looking to upgrade their broadband for cheap. However, there's a pretty big catch associated with the contract. Giffgaff is only offering this promotional contract to 500 trialists, meaning there's a small change of being selected to give the new broadband network a go. Still, if you'd like to throw your name into the hat, you can register your interest on the Giffgaff website. Speaking on the new broadband rollout, a chief executive at Giffgaff, Ash Schofield, said: "Broadband is a natural evolution for us as a connectivity brand. "We know people are frustrated with their current broadband offering so we’re committed to bringing together the latest tech, with the feedback of our members to build something better. We’re looking for up to 500 heroes to try our full fibre broadband. We’ll even reward them for sharing their feedback on the experience with us." Giffgaff is mostly known for its budget mobile network. (Image: Giffgaff ) He added: "This is a big moment for all of us and we have so much to learn and discover together. If you’re not a trialist, don’t worry, there will be plenty of opportunities to be a part of the journey with us." A Virgin Media O2 spokesperson told ISPreview, which first revealed Giffgaff was moving into the broadband market: “The planned launch of a Giffgaff broadband service mirrors the successful approach we’ve taken with the brand on the mobile side. “It allows us to offer a complete range of broadband and mobile services to a wider mix of different customers and aligns with our broader commercial strategy with three of the best brands in the country. Giffgaff broadband is currently in a trial phase, leveraging our wholesale capabilities and recruiting people to test and shape the service, so we’ll share more information later in the year.” For comparison, most other broadband providers charge around £30 per month for 500mbps speeds. The cheapest contract with those speeds on Uswitch is 4th Utility at £25 per month, with Vodafone not far behind at £30 per month. Giffgaff has a Trustpilot score of 3.8, with customers praising the signal strength and low cost of its mobile network services. "The rolling monthly contract is good value and simple to understand and the company even suggested that I might like to reduce my monthly cost to a lower level of date as I wasn't using my full allowance," writes one customer. Other customers take issue with the data roaming allowances, which are limited in comparison to other providers. "The ONLY issue with Gffgaff is the poor data allowance for EU roaming. I am considering changing networks for my holidays. 5GB is really poor. Other than that, they are great," says one customer. There are plenty of other ways in which you can reduce your broadband bill. (Image: Getty Images ) How to cut your broadband bill If you're not happy with your broadband provider, use a comparison website to see what deals are available where you live. Take a look at the speed you're currently paying for, so you can find similar plans that suit your needs. If you don't need as fast of a deal, you will likely be able to save money - but this all depends on what type of broadband you need. If you've found a cheaper deal, you can switch to this if you're out of contract. Alternatively, you may want to haggle down your current provider. When haggling, explain the better deals you've seen elsewhere then ask if the company can match or beat that price. Article continues below It sometimes pay to negotiating a better deal if you're near the end of your contract or, in some cases, when a price rise has been announced. You may be able to leave penalty-free when a mid-contract price rise is announced, although not if the price rise was already written into your contract. If you claim benefits such as Universal Credit, you could save money by signing up to a social broadband tariff, which are special low priced deals designed for people on low incomes. Regulator Ofcom has a full list of providers offering social tariffs on its website.