Solar Panel lease and remortgage.

mickelaine1

Just spent six months applying for a remortgage through Kensington for a buy to let everything going well until it come to completion.
The buy to let has solar panels through A Shade Greener and a air space lease.

Kensington wouldn't agree to the conditions of the lease.

A Shade greener wouldn't agree to Kensingtons charge on the lease even though in A Shade greeners' literature it says Kensington are an approved lender.

I now have to go to a different lender, pay for another valuation fee and re submit new paperwork.
The solicitor also wants £250 + vat on top of conveyancing fee to deal with solar panel lease.

Beware if you have solar panels and a lease on roof or air space as some lenders don't like this, I have spoke to other people that have had mortgages refused due to solar panels.

If I had known this I would never have had the solar panels fitted.

They have cost me a lot of time and money so far and I am not certain the new lender will agree to the lease though I have sent them a copy prior to application.

Very annoyed.

Wendim

I'm in the same situation with my parents house ASG want 180 to amend the deed..............Absolute daylight robbery!!!

abbic1977

did either of you find a solution? I’m in the same boat with Kensington and levantera at the moment! 

amnblog

Lenders do not like these solar panel lease arrangements - there are few that will live with them. The SP lease is something that should have been right up on the list of requirements day one.
Kensington seem an unusual choice of lender in any case - do you have credit issues?

abbic1977

It’s a long story, but essentially I have a poor credit rating as a result-I am trying to move my existing mortgage and a secured loan into one place and Kensington were the only company the broker could come up with. Kensington will accept solar leases provided the solar company will complete their deed. Mine won’t. They have offered a CML letter and variation of the lease, but won’t meet Kensington’s requirement for the deed.....

abbic1977

I flagged the solar lease issue at the start, I had no issue when purchasing the property initially with a Halifax mortgage

heavenlyharry01

I know this is a super old thread, but we are also trying to remortgage through Kensington and our Shade Greener panels have just been brought up. I’m wondering if this is going to halt our remortgage 

abbic1977

It did mine, get the solar panel issue sorted before you put a load of time and effort in. Most solar companies will not complete Kensington’s deed as its very restrictive. For me it was 6 months of hard work that never completed. Good luck