A Shade Greener Leased Solar Panels

Myci85

Hi @FritzJack,
We bought our house in October last year with a shade greener solar panels. I did lots of research into it before buying as we also needed a mortgage and were FTB. There are certain clauses that need to be included in the solar panels lease for mortgage lenders to be happy, and it may reduce the pool of lenders that will consider it, but for us it was fine. Can you ask the vendor for a copy of the lease? IIRC it needs a clause in there that if the property were to be repossessed by lender and they felt the solar panels were affecting them selling it on, a shade greener will remove the panels free of charge. We got a mortgage with Accord (due to OH job contract) and they were happy. 
Over winter we didn't notice much electricity gain from the panels as they're older and less efficient than newer ones and really need direct sun to make much, but having had a few sunny days over the last month we're now seeing a reduction in our bills. We get the excess free electricity generated during daytime hours, but don't get any FIT payments. 
It sounds like our lease started later than the one you're looking at (2014 I think) so you def need to check the lease clauses as it may be different. 

FritzJack

Myci85 said:

Hi @FritzJack,
We bought our house in October last year with a shade greener solar panels. I did lots of research into it before buying as we also needed a mortgage and were FTB. There are certain clauses that need to be included in the solar panels lease for mortgage lenders to be happy, and it may reduce the pool of lenders that will consider it, but for us it was fine. Can you ask the vendor for a copy of the lease? IIRC it needs a clause in there that if the property were to be repossessed by lender and they felt the solar panels were affecting them selling it on, a shade greener will remove the panels free of charge. We got a mortgage with Accord (due to OH job contract) and they were happy. 
Over winter we didn't notice much electricity gain from the panels as they're older and less efficient than newer ones and really need direct sun to make much, but having had a few sunny days over the last month we're now seeing a reduction in our bills. We get the excess free electricity generated during daytime hours, but don't get any FIT payments. 
It sounds like our lease started later than the one you're looking at (2014 I think) so you def need to check the lease clauses as it may be different. 

That’s great. Thank you very much for taking the time out to comment on the above. From what I’ve read A Shade Greener are very helpful when it comes to getting a mortgage with the solar panels insitu. And from what I’ve read it tends to be people who have ongoing problems with birds nesting within the panels etc, I can barely find much literature regarding people struggling to get mortgages with ASG. I think from what the seller was saying they started around the 2015 period, so fingers crossed. 

Can I ask, did it affect your solicitors fees and timescales for completion? We are possibly looking at a £350 increase due to it being a leasehold as appose to freehold. 

Thank you 
Best regards 

Myci85

As in the property is a leasehold, or they're going to treat it as such due to the leased roof space? I don't recall paying increased solicitor fees, all they needed was the solar panel lease from the vendor to show to the mortgage lender to satisfy them that it met their requirements. Luckily our vendors had it to hand so no delay sending it over. 
Yes I think you're right with the nesting birds thing. The other thing is if you need to do work to the roof and need them removed, I think that's where some people again have issues. But I think our lease includes clauses that they'll remove them free of charge 2 times for roof maintenance work etc. Obviously not yet needed to test out how that works in reality, but worth checking out the roof condition to see if it looks good, or if that could be an imminent problem. 

FritzJack

I feel they will look to treat it as a leasehold due to the solar panels! When reading the initial paperwork sent out by the solicitor I come across this (see below).

and ah yes, I feel like we have read the same thing! Ideally I need to see the lease paperwork then don’t I! Thank you ever so much for your response. It’s reassuring to see someone else going through the same! Especially a FTB. 

Thank you 

Myci85

Hmm, yes you may be right about being charged extra then, that's annoying. 

And you're very welcome, we found this house after missing out on a house we loved, months of searching for another, then trying to buy one that it turned out had single skin brick walls in the kitchen so couldn't get a mortgage, so when we then realised the solar panels on this place were another potential issue, I could have cried! Hope it all turns out well for you. 

FritzJack

Thanks again for all the great advice and information @Myci85. 

Hoping we know tomorrow, will update the forum in a few weeks if all is well 🤞🤞🤞

FritzJack

Mortgage approved. Solicitor looking in to solar panels free of charge. Happy days. Hopefully a quick process 👏🤞

All the best