Anyone bought/sold property with free solar panels installed?(26 Posts)
Was it a nightmare?
We had free solar panels installed last year - the rent a roof, fit and forget variety which have actually benefitted us (but will moreso benefit the installation company )
Anyway, its a 25 year lease and we now have to sell up pretty quickly for various reasons.
Will it be a pain to sell? Are mortgage companies steering clear of houses with these installed due to the lengthly leases?
I haven't done this but there was quite a lot of press about it last year and it seemed most mortgage companies wouldn't lend on houses with them as they saw them as having a competing charge over the building. The solution seemed to be to buy the panels from the installer so that they didn't have a legal hold over the building. See [[ http://www.guardian.co.uk/money/2012/mar/23/solar-panels-dim-mortgage-prospects here]]
I work for A Shade Greener and we offer free solar panels on the 'rent-a-roof' scheme.
A lot of what was published last year regarding the perils of 'rent-a-roof' was sensationalised by the media. If the company you went with adhered to the guidelines established by the Council of Mortgage Lenders the new owners should not experience any problems in getting a mortgage for the property.
We have installed nearly 20,000 systems and over 100 of our customers have sold their property. We have never come across a case where a customer has been unable to sell their property because of the solar panels or the lease.
I hope this helps
Well last year we looked at a house that had them where they had had 7 offers which fell through! We were prepared to go ahead though as we were paying cash and loved the house but offered lowish becasue of the 'sell on' factor. they turned us down and have now let the house
I decided against having them fitted because I realised a new buyer might not like the commitment It was a negative selling point as far as I was concerned
Panels can be a selling point as they increase the energy efficiency rating of the property and lower electricity bills. You have had panels installed already so you know there is a benefit to having them, potential buyers will see this too.
As with any home improvement solar panels are down to personal taste, if you advertise your home as having a PV system then this will ensure those who are interested know they are there.
If you own them outright ie you founded the installation it is different. If they are on a scheme it means the company has leased your roof for 25 years so effectively there is a charge against the property.Also there are issues re roof repairs and loft conversions etc and who is responsible for what.
If the panels are owned it is different. Owned panels are an investment that will have cost a lot of money to install and have the potential return of thousands through the FIT. The FIT is only paid to the owner of the panels and so the seller would either have to increase the cost of the home to cover the loss or forfeit the investment.
A PV solar installation should not prevent you from having a loft conversion though it would limit where dormer or velux windows would be placed.
All details on the maintenance or the panels as well as the roof and any other responsibilities will be found in the lease.
Thanks very much for your responses everyone! I will be going to see the estate agent next week so they will have a good idea on how properties with solar panels have been selling in my area also. Thanks again.
I had solar panels fitted in January 2016 by a shade greener who said that were absolutely free which to be fair were at the time. We bought the house as a new build with help to buy help government scheme. When we had the sales rep come round he said that they would fit the panels and arrange the approval from the mortgage lenders after installation and if there was going to be a problem then they would come back and remove them. We heard nothing so presumed that everything went to plan legally. 13 months later we sold our house to buy another new build but our buyers solicitor would not exchange contacts because the registration of the lease was not done correctly as they had not informed the mortgage company or the help to buy company. It is now 11 weeks since we put the deposit down on our new house and the builders are threatening to pull out. Thank you A Shade Greener for completely ruining our chance of moving to our dream house, it will now cost us thousands in costs (new house deposit plus solicitors fees) to get this sorted
So Dave you relied on a salesperson to take care of important administrative matters and didnt think to follow up or check. Oh wow, more words actually fail me but I really dont think your predicament is the fault of A shade greener.
The extra weight of solar panels on a roof can cause problems as the roof wasn't designed for such additional weight. In a terraced house this will affect all the houses in the row, and a semi, both houses will be affected.
Solar panels are the least efficient form of renewable energy at the moment, so I'd avoid all houses with them on for the above two reasons.
We have these. We were unable to remortgage a couple of years ago. We might need to sell next year and fuck knows what will happen. We bitterly regret getting them. We also felt we were doing our bit for the environment but have been totally screwed over and now might not be able to sell our house.
I'd love to sign that petition but the link won't work?
Just a thought - is it possible to get them removed, and then sell them? On the train yesterday, I saw farms that had rows of them, at least thirty in total.
We would need to buy the company out including compensating them for the loss of the FITs. I think it would be minimum £20k poss more. We were idiots in hindsight. I mostly try not to think about it.
We pulled out on a house with solar panels after advice from our solicitor and suddenly there being isuues with the mortgage once they mortgage company knew about the solar panels.
We wont even view any houses with them on now. I just scroll straight past on rightmove.
Sorry. But it was v stressful. I felt rubbish letting our seller down and we lost alot of money on survey searches and solicitor fees. once bitten twice shy.
I've just remortgaged and no problems with the lease. I'm on year 7-8 of a 25 year contract with HomeSun.
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