Free solar power system. Is it a scam?

zeupater

Cardew wrote: »

I suspect also it depends on the 'climate' for mortgages at any given time. When banks and Building Societies were falling over to give huge mortgages - 5 times annual income and up to 100% - it might be that having your roof rented out for 25 years would have been overlooked. These days things are different - they are looking for reasons not to lend!!

I suspect also that those with large deposits (25%-50% or so) might have less problems than those wanting a 95% mortgage.

It will be interesting to see how houses, with their roofs rented, value when on the market against those not encumbered.

Hi

I don't think that the banks and building societies are particularly looking for reasons not to lend, but they are looking more closely at the risk factors in their lending decision making.

If there is the possibility that a number of lenders will refuse to lend on properties with leased roofs, or change the percentage of owner equity required in such cases in order to qualify for loans, there will be an effect on the number and the demographics of interested parties who are able to obtain the finances required, which in turn could increase the risk of a property attaining full market value at sale. The financial institutions will therefore recognise this new risk and factor it into their decision making process in order to mitigate their own risk exposure.

Z

[Deleted User]

not just mortgages. We would never contemplate buying a property on which the roof has been rented out for PV. A lot of innocent people have been shot in the foot

Henrydavies

I don't think so. I don't think this is a scam. My thinking is positive about this. Thank you.

Equaliser123

Henrydavies wrote: »

I don't think so. I don't think this is a scam. My thinking is positive about this. Thank you.

Great. My thinking is unbelievably negative about it.

JenR8

Equaliser123 wrote: »

Great. My thinking is unbelievably negative about it.

And there we have it in a nutshell folks!

Nuff said.

M4ximillion

I swore i wouldnt post again cause its tiring and gets me down but i still look from time to time and when I saw what Cardew was posting and the comments about mortgage lenders I thought i'd find out more seeing as i am having my own free install from in two weeks time and i was a bit concerned. I emailed ASG about this and got the repsonse below. I know Ill get attackd for it but i dont care. Im just showing the other side of things becuase nobody else dare. So if you think im lying ring that woman and ask for a list of her contacts and do your own research:

We deal with mortgage companies on a regular basis and whilst we had issues in the first instance with HBOS, Barclays and Santander, these issues have now been totally resolved and every major mortgage company is now prepared to consent to our 25 year lease. The main contacts we have with every mortgage provider would be happy to confirm this and have also confirmed that there should be no problems whatsoever in raising either a mortgage or re-mortgage on such a property. If you, or your solicitor, wishes to discuss this further please contact our in-house lawyer, Anne Emmerson on 01226 352010 or email her [EMAIL="anne.emmerson@ashadegreener.co.uk"]anne.emmerson@ashadegreener.co.uk[/EMAIL]

Froggitt

So did you get consent from your mortgage lender as youre subletting (on a rather long term) part of your property?

Equaliser123

M4ximillion wrote: »

I swore i wouldnt post again cause its tiring and gets me down but i still look from time to time and when I saw what Cardew was posting and the comments about mortgage lenders I thought i'd find out more seeing as i am having my own free install from in two weeks time and i was a bit concerned. I emailed ASG about this and got the repsonse below. I know Ill get attackd for it but i dont care. Im just showing the other side of things becuase nobody else dare. So if you think im lying ring that woman and ask for a list of her contacts and do your own research:

We deal with mortgage companies on a regular basis and whilst we had issues in the first instance with HBOS, Barclays and Santander, these issues have now been totally resolved and every major mortgage company is now prepared to consent to our 25 year lease. The main contacts we have with every mortgage provider would be happy to confirm this and have also confirmed that there should be no problems whatsoever in raising either a mortgage or re-mortgage on such a property. If you, or your solicitor, wishes to discuss this further please contact our in-house lawyer, Anne Emmerson on 01226 352010 or email her [EMAIL="anne.emmerson@ashadegreener.co.uk"]anne.emmerson@ashadegreener.co.uk[/EMAIL]

Its much more complex than that.

Mortgage lenders can impose fees for this sort of thing even if they are prepared to consent - Nationwide have recently done this.

M4ximillion

Froggitt wrote: »

So did you get consent from your mortgage lender as youre subletting (on a rather long term) part of your property?

I was told at ASG they had to get consent from my mortgage company cause their lease isnt valid without it. I didnt get charged anything either

Froggitt

So has your mortgage company sent you a letter that says "We consent to some ASG panels on your roof for 25 years"? I woud suggest that is between you and your mortgage company, rather than between ASG and your mortgage company.