It's all a game of bluff and brinksmanship. VM wants to extract as much money as possible from each and every customer and it does this through an opaque process of haggling for a deal with each and every customer. You, as the customer, want to pay as little as possible for the greatest amount of services/speed.
Are your expectations for what VM might offer you realistic?
Have you done your research into other providers to see what they are offering to know if any deal VM puts forward is any good or not?
Have you checked VM's out-of-contract pricing to see what you would pay for the bundle of services you want and see how that compares to any VM offer?
If VM is the only game in town for you, then your negotiating range is limited, to an extent, unless you choose to move away from VM for a period of time then come back as a 'new' customer.
Also factor into your comparisons that VM will now charge you a 3.9%+RPI increase each and every year and caps on early exit fees have now gone.
VM may call back with a better offer or you may not hear from them again.
While you wait to see what happens, try this past topic/post from Andrew-G (5th post down) for general advice on the business of renewing.
https://community.virginmedia.com/t5/Managing-Your-Account-Cable/Why-oh-why-does-loyalty-get-punishe...
