Unregistered lease for Solar System

teddysmum

D00gie72 wrote: »

Hi There, I sold a house with leased solar panels a few years ago - and it was a pain. Your purchasers have probably been put off the Solar Panels by reading scare stories in the press etc about how "terrible" a deal they are and how the panel owners are all sharks and out to make a quick buck.... forgetting that they will be benefiting from reduced electricity costs.......without the expense of maintaining the solar equipment...... Anyway that's my rant over....
Basically getting out of your current lease agreement with the solar owners is likely to be very expensive - as basically you are paying them for the remaining feed in tariffs they would of received up until the end of your original agreement. The panels and associated equipment belongs to them - so if you remove it without permission yes you could be liable for costs which I imagine would be large.
The lease we had - also was not up to current council of mortgage lenders standards. We had to arrange a deed of variation on our lease - basically bringing it up to standards that meet Council of Mortgage Lenders criteria. Talk to your solicitor and the owners of the panels (you may need to speak to their solicitors too) and see what you need to do to achieve this. Then hopefully your new buyer will be reassured about the panels and will go ahead with the purchase.
Removing the panels yourself could lead to a huge amount of trouble and expense for you.

Some people don't want them because they look awful and/or they don't want someone to have rights over part of their property (from which they are making a profit).

sevenhills

What is the correct method when buying a house with solar panels? Would their be a contract to sign, maybe there would be a covenant?
There will be a contract between the owner of the solar panels and the house owner, when the house is sold on, this contract must need renewing.

anselld

sevenhills wrote: »

What is the correct method when buying a house with solar panels? Would their be a contract to sign, maybe there would be a covenant?
There will be a contract between the owner of the solar panels and the house owner, when the house is sold on, this contract must need renewing.

No different to buying any Freehold property with part subject to Lease. The Lease still stands when the freehold changes hands. It does not need to be re-signed.