Solar panels

paulj2021

Some properties I’ve been looking at online for a possible purchase have solar panels. I remember something from years ago about people signing up to restrictive contracts for solar panels that meant the contracts had to transfer on to future buyers for x number of years, is this still a thing? Any other issues I should be aware of?

Pok3mon

If the roof is leased you will only benefit from free electricity but the company is responsible of any repairs and maintenance.
If you will own the panels you receive the free electric and feed in tariff (FIT) this needs to be signed over to you so you can receive payments.
Make sure your solicitor knows about the panels from the outset.
I am aware there was some issues with mortgage companies a few years back I believe this is no longer the case.

eddddy

In general, there are 2 different options with solar panels...

• Option 1. The owner of the house owns the solar panels. They will be selling the house and the solar panels to you. So there should be no problem.

• Option 2. The owner of the house has leased out their roof space to a company. That company has put their own solar panels on that roof space.

Option 2 can be problematic, if you need a mortgage.

Mortgage lenders want to be able to repossess your house, if you don't pay your mortgage. If the roof is leased out, it means that the mortgage lender cannot repossess the roof.

For that reason, some mortgage lenders won't touch houses with leased out roofs. But some lenders will accept them if the lease says that the lease ends if the house is repossessed.

So you have to persuade the solar panel company to modify the lease to say that. At best it's a hassle. At worst the solar panel company might refuse.