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Jan 14, 2019

Solar panels - Gift or curse?

Solar Panels

Category: General
Posted by: lannister


We love the idea of green energy and believe that we should all do our part to become more environmentally friendly. After all, we only have the one planet to live on (for now)! And as an added benefit, it can help you make massive savings on your household bills, and we have even met a few homeowners now who generate an income from selling excess energy back to the grid! What’s not to love?


Solar panels these days are much cheaper to buy and easier to install. They are smaller and offer more kerb appeal than the bulky panels that one normally associates with solar panels. In fact, you can now buy solar panels that look like ordinary roof tiles!  If you are fortunate to buy the solar panels outright then you should have no issue in selling your house, if the paperwork is in order.


But for many, they remain an unaffordable option. Which leads people to companies offering deals where you could receive solar panels for free, or at a drastically reduced rate, which sees you leasing your roof space for these companies to place their panels.


While this seems to be an attractive offer, many people were left unaware of the consequences of doing this. In the best-case scenario, the extra paperwork and agreements will make the sales progress slower and increase your solicitor fees. But in the worst-case scenario many homeowners have found that buyers are simply unable to get a mortgage to purchase their house.


The issue arises with the smaller and less reputable companies that have installed solar panels. The paperwork and agreements are sketchy or ambiguous, or in some cases there is little to no paperwork at all. Mortgage lenders want to be reassured before lending someone huge sums of money, and so if the paperwork isn’t in order they will simply refuse to lend out. This could lead you in to an impossible situation where you need to move but simply can’t.


If you have read this article and feel that you may be in this situation, then please speak to someone for clarification. A good mortgage advisor will be able to look at your paperwork and inform you whether there are any companies that would be willing to lend out for purchasing your house. They may also be able to advice you on your options if you do find yourself trapped in your own house.


If you are looking in to the option of leasing solar panels on your house then make sure you do your research well before committing to anyone. Make sure you choose a large, reputable company who can provide the documentation you may one day require. If everything in in hand and you have it all ready then your buyer will not get scared off.


Solar panels can be a real gift if you choose the right company and the right method to get them. They help the planet, support the local community providing economic development and jobs- but best of all they can earn you a real income as well as reducing your household bills! Now that’s a good deal, in our opinion.

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