Solar panels a no no

[noddyholder]

AAAAAAAAH have been looking for a house for ages and as I am not looking for a period but a big 60s 70s house I am rather limited in Brighton! Found one and solicitor said don't touch with a barge pole due to solar panels which were installed free under some bloody scheme Have read all the bumph and he is right its a minefield so anyone thinking these schemes sound too good to be true They are!

I heard about this on MoneyBox . Doesn't have to be a dealbreaker as you or current owner could "buy out" the company that owns the panels - so there might be some room for negotiation if you love the house.

Yes I am looking into the choices but they seem to have signed up to some 25yr scheme and it is more expensive to get out of than to put in your own!

What's the worst thing that could happen financially if you bought the house?

Well the company lease the roof for 25 years and if you want to sell more and more mortgage companies say no!

ah that is an issue.

If you couldn't sell in the future could you rent the house out?

No we are looking for a home to stay in but you never know what can happen!

If the house is effectively unmortgageable, the owners will have to reduce the price or buy out the solar panel company. Either way, you end up with a cheaper house or you end up with free leccy .

My mum and dad have just had them on their house. Surely they're a benefit?

It depends on whether your parents paid for them themselves or they have leased their roof to a company for 25 years. If the latter, lenders don't want to provide mortgages because there is already a business with a legitimate interest in and control over the property.

They are not a benefit unless you own them Any 'free' schemes are a no no and the govt have also currently decreased the amount of money you can make back from them. There are cases of problems with roof ties etc and who is responsible for upkeep of the roof and so on.

YOu can't do any kind of loft conversions on these rent-a-roof schemes either, I'm pretty sure. Another misselling issue for the future, I think

Yes caral thats right and it affects insurance as most insurance companies only willing to insure a roof where the panels were installed at the same time eg a self build/new build with a roof suitable.

?

Yes, they do own them and they're going to get about £1200 pa plus cheap electricity so it's worked out well for them.

Yes imperial its fine if tehy did it themselves its just the recent free ones that are tricky

I think that may have been a hijack from my 8yo .

Good spelling, 8-year-old!

Ok have established that the sellers fitted them at their own expense Now to sort out what the insurance situation is! Imperial did your parents have to do anything wrt insurance?