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Sloar panels on a roof
22johnny22
Posts: 110 Forumite
SOLAR, Blast not Sloar!!
We are hoping to buy a house soon which has a solar panel on the roof, the 25 year contract states the owner will have free electricity during the day and the operators sell the excess.
I will obviously review the contract but I am told some lenders are not keen on advancing money when there is a third party interest.
Is this true? Any help most welcome.
Johnny
We are hoping to buy a house soon which has a solar panel on the roof, the 25 year contract states the owner will have free electricity during the day and the operators sell the excess.
I will obviously review the contract but I am told some lenders are not keen on advancing money when there is a third party interest.
Is this true? Any help most welcome.
Johnny
0
Comments
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Yes. A third party agreement could prevent any new lender from acquiring client title to the property. In other words if you default on your mortgage payments the lender may not be able to force a repossession and sell the property.0
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Thanks.
Am I likely, if I get a mortgage to be paying a higher interest rate as a result?0
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