Solar Panels - Selling The House

gooner63_2

So why mention the other project in the first place....IMO....Arks have had their day anyway !

sinbad182

Whilst it was a bit odd to mention the unique and intriguing new project, and then demand no one mentions it again, this guy started this thread about the transferal of of solar panel profits so we should respect that.

Imo I think youll be hard pushed to find a buyer happy to a)have them kept on their roof, and b) happy with the extra stipulations in the contract of sale.

csh_2

I'm buying a house where the solar panels were bought out right and on the FIT scheme thing. Afaik from researching if you try to retain any part of the panels/income then it can be a problem for mortgage companies as someone other than the owner has a vested financial interest in the property
The vendors also thought that the panels should add value but to me they didn't. For every £1 I borrow on the mortgage I pay back £1.61 so they were suggesting that their £18k investment should add £10k+ to the price but adding that to a mortgage I'd be paying thousands for their investment choice.

Long story short I made a low offer without panels, they investigated moving them but decided it was not worth it, they suggested a higher price and we met in the middle.
I made a thread on here at the time and most folk were of the opinion that they do not add any value even if they provide an income

gooner63_2

Actually after the previous years weather....you maybe on to something !

G_M

But it's Saturday.

theartfullodger

ptrichardson wrote: »

They won't go anywhere. They'll be there the whole time, whether I continue to benefit from them, or someone else does.

Again, if you're not helping, please don't post TIA

Thank you for your kind thoughts:

As I said ...Since we the taxpayers are subsidising these ugly, hideous & uneconomic carbuncles, anything that gets them removed and saves us money is good news in my book.

I am trying to save our poor, economically challenged, country money by doing all I can to stop these daft subsidised failures being used... What could be more important than that???

Cheers!!

dimbo61

If you want to keep the income and the solar panels on YOUR roof then the best solution is a BTL mortgage and buying the OTHER!! property.
Now depending on the equity in your existing property you may be able to take some of the equity out as a deposit for the new place.
Time to find a " whole of market mortgage broker" who deals in BTL mortgages.

vectistim

It should be possible to retain the FIT payments, but it seems to be something of an unknown as to how a mortgage company will respond, or how a purchaser will respond. I know the 'free' ones have a buyout option to buy out the interest of the company that supplied them, and presumably you'd need to include something along thoses lines, although the prices that they include do seem to be rather disadvantageous for the property owners.

(And a minor point - FIT payments are funded from a levy on utility bills rather than from general taxation)

Petree

I would expect you to pay me to have something attached to my house which I have no control over and don't benefit from especially when I know you're making money off of it.

I also have a stranger demanding access to my house every so often to fiddle about with electrics, putting equipment which could set fire in my house or I could accidentally break when shoving my broom in there, or do I have a cupboard in my own house I don't have a key for?

If renting then I think you would have great difficulty and would need to discount the rent unless its going to a friend who doesn't mind you entering the property whenever you need to. What stops me wiring the panels into my house supply and using all that free winter solar to electrically heat my house all day and not have any heating bills? Remember you won't be allowed in whenever you like as you won't have access rights to my rented house.

Realistically I say you will need to suck up a loss of this investment and move on, if its your dream/special project the hurt won't last for too long.

Morgage_Confused

Now Im really interested in the other project, the unique and intriguing new project.
Come on give us something more.