Free solar power system. Is it a scam?

M4ximillion

Equaliser123 wrote: »

Your bank doesn't own the property. It has a charge over it.

Any lease which you grant WOULD be valid as a matter of law and you most certainly WOULD be in breach of the terms of your mortgage unless they have provided their consent to you - not the solar company - YOU.

Please! I know you think im thick but im really not, believe me. Im ill educated, not thick. I was simply making a point - in that whilst you are absolutely legally correct that the title deeds are in my name, it is hocked up to the eyeballs and therefore the bank has invested more in it than i have up to now so I reckon that they actually have more interest in it than i do. If i went bankrupt and couldnt pay them back theyd only have the house to sell to repay the loan.

What Anne at ASG said to me when i asked her why they need my mortgage company consent is that if they didnt have consent to the lease they couldnt register it at the land registry then it would be invalid for any new homeowner as they wouldnt have had notice of it.

Cardew

M4ximillion wrote: »

Oh god here we go again, I really wish i'd not come back,

Notwithstanding the above - welcome back; it's the Frank Sinatra syndrome;)

I wonder if you have misunderstood the point being made as ASG have doubtless cleared the legal issues for their clients.

When selling a property with 'Rent a roof' panels to somone who requires a mortgage, is it not possible that the mortgage company will refuse a loan?

M4ximillion

Cardew wrote: »

Notwithstanding the above - welcome back; it's the Frank Sinatra syndrome;)

I wonder if you have misunderstood the point being made as ASG have doubtless cleared the legal issues for their clients.

When selling a property with 'Rent a roof' panels to somone who requires a mortgage, is it not possible that the mortgage company will refuse a loan?

After reading your post, that is what i wanted to know from ASG, whether the mortgage companies would use that as a reason for not giving a loan as i might want to remortgage one day or sell up. I think the response that i cut and pasted into my post is quite straight forward so i'll paste it again cause dont think you read it:

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]

It seems to me to say that they wouldnt refuse a mortgage on the basis of the panels being in place - so what point have i misunderstood? And also Ive spoken to Anne at ASG since myself and she said theres now been three properties sold with their panels in place and there were mortgage companies involved with two of them. She also said she would would happily give anyone details of the people she deals with at all the mortgage companies to confirm what she was telling me. If you think Im misunderstood or talking rubbish why dont you ring her? Her numbers 01226 352010, her names Anne Emmerson. Why dont you just get it straight from the horses mouth? Theyre very open at ASG, in fact ive never dealt with a company that open or straight down the line theyre without doubt the best company ive ever dealt with to be honest. Now i am going again cause this place is like a bear pit for us folk who are having installations.

Equaliser123

M4ximillion wrote: »

And also Ive spoken to Anne at ASG since myself and she said theres now been three properties sold with their panels in place and there were mortgage companies involved with two of them. .

So only 2 mortgaged properties?

We don't know how many there has been a problem with.

Cardew

M4ximillion wrote: »

After reading your post, that is what i wanted to know from ASG, whether the mortgage companies would use that as a reason for not giving a loan as i might want to remortgage one day or sell up. I think the response that i cut and pasted into my post is quite straight forward so i'll paste it again cause dont think you read it:

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]

It seems to me to say that they wouldnt refuse a mortgage on the basis of the panels being in place - so what point have i misunderstood? And also Ive spoken to Anne at ASG since myself and she said theres now been three properties sold with their panels in place and there were mortgage companies involved with two of them. She also said she would would happily give anyone details of the people she deals with at all the mortgage companies to confirm what she was telling me. If you think Im misunderstood or talking rubbish why dont you ring her? Her numbers 01226 352010, her names Anne Emmerson. Why dont you just get it straight from the horses mouth? Theyre very open at ASG, in fact ive never dealt with a company that open or straight down the line theyre without doubt the best company ive ever dealt with to be honest. Now i am going again cause this place is like a bear pit for us folk who are having installations.

Of course I read the quote in your post.(incidentally I agree that ASG are an open and straightforward company from what I have seen and far better than some of the Rent a roof companies that have come into the market)

Firstly, prior to your most welcome return and intervention, we were not talking exclusively about ASG but the whole Rent a Roof industry. Other companies appear to have leases with far more restrictive conditions on insurance, penalties etc. etc.

Secondly, whilst the current mortgage companies ASG have approached appear to be happy with the legality of ASG lease, that is not the point.

It is the desirability of the 'Rent a Roof' panels to other mortgage lenders that is the issue. Opinions are divided on if the panels will enhance or detract from the value of the property.

Which ever way you look at the situation, the panels do place restrictions on any future buyer; and that alone may be sufficient reason in future for mortgage companies to be reluctant to offer a loan. The term ASG use "there should be no problems" in getting a mortgage sums it up.

Mortgage companies are not forced to offer loans, even if the lease is legal. You have only to read the financial press to see that it is not easy to get loans these days and if funds are limited

---

!

You have left this thread, vowing not to return, on a couple of occasions. It seems that because you are going ahead with an ASG installation, there should be no discussion of possible drawbacks of the Rent a Roof' schemes - even with systems other than ASG

free_juice?

zeupater wrote: »

There are a number who have posted on the forum who seem to have roofs which are large enough, have an aspect which is well within the requirements and not shaded, yet have been rejected .... is this possibly related to refusal by the financial institutions based on equity levels ??

Regards
Z

I was one of them - 30+ sq mtrs, 30 degrees, due south, south of England, no shading. But my mystery rejection by Homesun has nothing to do with financial institutions; I own my house outright.

Froggitt

FIT scheme likely to change due to farmers coating Cornwall in solar panels.

beedydad

Froggitt wrote: »

FIT scheme likely to change due to farmers coating Cornwall in solar panels.

interesting comments. Question?
what is the difference between a solar farm gaining FIT's as a commercial business - and a commercial business (could be the same company) gaining FIT's by dividing their solar "farm" into fragmented bits by placing them on donor rent a roofs?

Not a lot but is another loop hole not foreseen with the Regs.

At least with the farms there would be a proper contract to provide a rental to the landowner and/or a cut in the FIT. whereas the domestic rent a roof don't pay a rent at all - but they suggets that you will benefit by cutting your bills - which is variable and not guaranteed!

beedydad

How many solar PV have so far been taken up?

See extract from BBC article - some say the figure is a success - i would say it is a failure - why? well if there are 20+ million properties in the UK, probably of which say 25% could be suitable - then 21,000 installations is nats pee to help reduce carbon and ween us off fossil fuels!!
Output
So far about 21,000 schemes are registered to take advantage of the FIT scheme, which has just under £400m allocated to it.
The vast majority of these are homes and use photovoltaic solar panels.
Friends of the Earth (FoE) said feed-in tariffs had been a great success and argued they should not be restricted.
"The government should be planning to expand the scheme, not holding a knee-jerk review aimed at applying the financial brakes," said FoE.
"This review is exactly the kind of move that will kill off the confidence of investors who have flocked to take advantage of the scheme."
The typical home installation produces about 2.5 kW.
Homeowners are told they can earn £800 a year from their tariff payments, based on the subsidy of 41.3p per kilo watt hour.
This payment is index-linked and guaranteed for 25 years, and households also save an estimated £120 a year from lower heating bills.
However the homeowners who take part have to pay for the cost of installing the equipment, which can be about £10,000.
At present the maximum size of an installation under the FIT scheme is five megawatts (5,000 kW).

vips

Representative from a company called PV solar came to my home in January and took the order for the free solar panel and told me that they will do a survery in 7-10days. They took a refundable deposit of 500 pounds as well. It has been one month now and I am still waiting for the survey. I have called them many times and they say they have lot of orders so everything is delayed but last week their sales manager told me that they are verifying things with their solicitors so that the customers will not suffer in that end, I have no clue what he actually meant and he will not elaborate on that. So guys please be cautious, may be the bubble is about to burst .. my 500 pounds SOB SOB (..... I will keep you updated, dont worry...