buying house with solar panels on 25yr lease????

Furts

daveyjp wrote: »

There's no requirement for building regs approval to fit solar panels. For the reasons stated above this is not such a good thing.

Definitely no is the answer to your Building Regulations comment. I have been subject to intense scrutiny by Building Regulations on my own installation. I was required to submit proof and logic behind roof design, fixing details etc.

The reality is Local Authorities had been briefed on what was happening. However, the government and the Local Authorities were slow recognizing the rapid uptake in installations in 2011. They did not have the staff, nor training, to pursue matters in all but a minority of installations. Coinciding with this, staff numbers were being cut. The result was the vast majority of installations were "overlooked" - a blind eye was turned to them. The attitude, unofficially, was buyer beware. This is the gist of my previous posting.

Anyone selling a home with pv panels should be prepared for this subject to be raised by the surveyor acting for the purchaser. If questions are not raised by the surveyor he, or she, could be taken to task.

WATTY1978

Hi. i am currently purchasing a property with leased solar panels. i have got my mortgage in place. yes there have been questions but the solar company have been excellent with support to solicitors. leased panels have been around a number of years now and more sales have completed. they are more aware of how to deal with issues but i guess a lot depends on the company involved and the experience of ea and solicitors dealing with the sale.
Try doing a bit of research on the solar company. the company i am buying with even offer to buy your property if you have any problems selling so they must be confident they can sort any mortgage issues.
The only thing that could cause issues in future is if the council of mortgage lenders change the goal posts a bit but i know this company try to work with them and register a deed of variation to ensure they meet their terms.
good luck x

Furts

WATTY1978 wrote: »

Hi. i am currently purchasing a property with leased solar panels. i have got my mortgage in place. yes there have been questions but the solar company have been excellent with support to solicitors. leased panels have been around a number of years now and more sales have completed. they are more aware of how to deal with issues but i guess a lot depends on the company involved and the experience of ea and solicitors dealing with the sale.
Try doing a bit of research on the solar company. the company i am buying with even offer to buy your property if you have any problems selling so they must be confident they can sort any mortgage issues.
The only thing that could cause issues in future is if the council of mortgage lenders change the goal posts a bit but i know this company try to work with them and register a deed of variation to ensure they meet their terms.
good luck x

They can afford to "offer to buy your property" with the money they are making from the FIT. Obviously they have tied into a 25 year business plan and do not want anything to jeopardize the mega profits in this. It really is money for old rope!

That said, I wonder how serious they would be about buying? Is this just an empty piece of sales puff? Or, if they bought, what price would be offered?

As you have gathered I regard these companies as sharp operators who have exploited home owners. The owners have been offered trinkets and baubles for the use of their roofs. In a commercial world, on such terms, the companies would have been told to f--k off!