Anyone bought/sold property with free solar panels installed?

(10 Posts)
Ezza1 Sat 06-Apr-13 12:23:05

Thanks very much for your responses everyone! I will be going to see the estate agent next week so they will have a good idea on how properties with solar panels have been selling in my area also. Thanks again.

flow4 Fri 05-Apr-13 22:59:53

The Council of Mortgage Lenders is wary but not opposed. Here's a summary of their guidance . Still, it's clear a lot of lenders don't like them, and since it's their money you're borrowing, they get to call the shots.

I think the Ecology Building Society may lend on houses with solar panels.

MykelH Fri 05-Apr-13 12:52:03

If the panels are owned it is different. Owned panels are an investment that will have cost a lot of money to install and have the potential return of thousands through the FIT. The FIT is only paid to the owner of the panels and so the seller would either have to increase the cost of the home to cover the loss or forfeit the investment.

A PV solar installation should not prevent you from having a loft conversion though it would limit where dormer or velux windows would be placed.

All details on the maintenance or the panels as well as the roof and any other responsibilities will be found in the lease.

noddyholder Fri 05-Apr-13 12:26:12

If you own them outright ie you founded the installation it is different. If they are on a scheme it means the company has leased your roof for 25 years so effectively there is a charge against the property.Also there are issues re roof repairs and loft conversions etc and who is responsible for what.

MykelH Fri 05-Apr-13 12:23:22

Panels can be a selling point as they increase the energy efficiency rating of the property and lower electricity bills. You have had panels installed already so you know there is a benefit to having them, potential buyers will see this too.

As with any home improvement solar panels are down to personal taste, if you advertise your home as having a PV system then this will ensure those who are interested know they are there.

CabbageLeaves Fri 05-Apr-13 11:08:03

I decided against having them fitted because I realised a new buyer might not like the commitment It was a negative selling point as far as I was concerned

noddyholder Fri 05-Apr-13 11:07:07

Well last year we looked at a house that had them where they had had 7 offers which fell through! We were prepared to go ahead though as we were paying cash and loved the house but offered lowish becasue of the 'sell on' factor. they turned us down and have now let the house

MykelH Fri 05-Apr-13 11:05:05

Hi,

I work for A Shade Greener and we offer free solar panels on the 'rent-a-roof' scheme.

A lot of what was published last year regarding the perils of 'rent-a-roof' was sensationalised by the media. If the company you went with adhered to the guidelines established by the Council of Mortgage Lenders the new owners should not experience any problems in getting a mortgage for the property.

We have installed nearly 20,000 systems and over 100 of our customers have sold their property. We have never come across a case where a customer has been unable to sell their property because of the solar panels or the lease.

I hope this helps smile

lalalonglegs Wed 03-Apr-13 21:00:55

I haven't done this but there was quite a lot of press about it last year and it seemed most mortgage companies wouldn't lend on houses with them as they saw them as having a competing charge over the building. The solution seemed to be to buy the panels from the installer so that they didn't have a legal hold over the building. See [[ http://www.guardian.co.uk/money/2012/mar/23/solar-panels-dim-mortgage-prospects here]]

Ezza1 Wed 03-Apr-13 15:40:16

Was it a nightmare?

We had free solar panels installed last year - the rent a roof, fit and forget variety which have actually benefitted us (but will moreso benefit the installation company grin )

Anyway, its a 25 year lease and we now have to sell up pretty quickly for various reasons.

Will it be a pain to sell? Are mortgage companies steering clear of houses with these installed due to the lengthly leases?

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