More solar panel questions
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I’m looking at buying a house, one I fancy has solar panels fitted under a 25year agreement/contract with a company called - A shade greener.
Reading up, it would appear the contract is passed over to any new owners.
From what I’ve read it looks to be very onerous.
Anyone any experience of taken on a solar contract with a purchase or any experience of this particular company?
I’m seeing red lights all over! Any advice appreciated.
ETA, it’s one of these “rent a roof’ contracts 25 year term, no buy out clause.
Reading up, it would appear the contract is passed over to any new owners.
From what I’ve read it looks to be very onerous.
Anyone any experience of taken on a solar contract with a purchase or any experience of this particular company?
I’m seeing red lights all over! Any advice appreciated.
ETA, it’s one of these “rent a roof’ contracts 25 year term, no buy out clause.
Edited by GAjon on Saturday 10th May 11:56
How long does it have to run?
Will you want to move/sell in that time?
Everything has its price, the house's vendor may have stitched himself up with this deal.
I looked into this about 10 or 12 years ago, I think there was some possibility of forcing a buy out. At a cost of basically what the FIT would pay the shysters. IMHO, the house is reduced in value by that sum, give or take an allowance for a bit of free daytime electricity which you probably won't use.
Also a lot of these systems were installed by cowboys, big possibility of roof needing repair within the 25 years, as some roofs do anyway.
If it's only got a few years to run, I'd consider it, at the right price, if I really liked the house.
As it happened I found a better house with no complications.
Back then, I would have needed a mortgage and I don't think my mortgage co was keen, which was an issue because I had a deal I wanted to port to the new place.
I would definitely check with a mortgage broker.
I would do some research, it can't be a unique problem, there were lots of these schemes and many houses with them must have been sold.
But I think the solar contracts have also often been sold on to the vultures.
Will you want to move/sell in that time?
Everything has its price, the house's vendor may have stitched himself up with this deal.
I looked into this about 10 or 12 years ago, I think there was some possibility of forcing a buy out. At a cost of basically what the FIT would pay the shysters. IMHO, the house is reduced in value by that sum, give or take an allowance for a bit of free daytime electricity which you probably won't use.
Also a lot of these systems were installed by cowboys, big possibility of roof needing repair within the 25 years, as some roofs do anyway.
If it's only got a few years to run, I'd consider it, at the right price, if I really liked the house.
As it happened I found a better house with no complications.
Back then, I would have needed a mortgage and I don't think my mortgage co was keen, which was an issue because I had a deal I wanted to port to the new place.
I would definitely check with a mortgage broker.
I would do some research, it can't be a unique problem, there were lots of these schemes and many houses with them must have been sold.
But I think the solar contracts have also often been sold on to the vultures.
A mate of mine works for a big commercial property company…they own/have built a lot of the big logistics sheds that you see along the M1 corridor. Lots of people approach them about/their tenants about putting rooftop PV on them.
Not happening! Legally it’s an absolute minefield and that’s a company with lawyers that would negotiate much better terms than a private house owner.
Not happening! Legally it’s an absolute minefield and that’s a company with lawyers that would negotiate much better terms than a private house owner.
Cheib said:
A mate of mine works for a big commercial property company…they own/have built a lot of the big logistics sheds that you see along the M1 corridor. Lots of people approach them about/their tenants about putting rooftop PV on them.
Not happening! Legally it’s an absolute minefield and that’s a company with lawyers that would negotiate much better terms than a private house owner.
Thanks, again, pretty much says avoid!Not happening! Legally it’s an absolute minefield and that’s a company with lawyers that would negotiate much better terms than a private house owner.
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