Buying A House With Leased Solar Panels

[amandajane10]

My sil is having huge problems at the moment which has caused a 3 week delay so far in getting the keys to her new house as the people buying hers have solar pannels and suddenly its a problem. Think they are having to be removed. Im not quite sure what the issue is but she is well naffed off.

[Floridarules]

Originally Posted by katie

When you get a reputable solar panel company, they do all the assessments of suitability of panels on the roof, including load-bearing. The panels are not that heavy TBH. We also had the planning and building departments of our council involved before we went ahead and had an architect check the load bearing on the roof. We had already planned to stay in this house and so we just need to survive another 18 years to reap the full benefits.

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Sounds like you have done a thorough job but I know people who have not done many of those things on your list and some companies 'load' the roof with as many as possible to achieve the most from the panels.

I have seen so many bad examples that do put excessive weight on the roof trusses which when constructed where not designed for this.

Therefore bit of a gamble when purchasing which is why lenders are being choosy. This and the added risk of the requred inverters required to convert the energy.

The ones in question which are leading to fewer lenders prepared to lend are the panels which are leased rather than owned outright and the owner signs to essentially grant a lease to the solar panel company who own the panels amd lease the space above your roof

[katie]

A few of my neighbours came and looke at our array and thought that it was a good idea until we told them how much it had cost (they are a lot cheaper to install now). Our panels were purely an investment which was why we thoroughly investigated all the pitfalls before we went ahead. We did all our own research and then found a rec'd company who knew what they were doing.
It's a real shame that people were not warned of the problems in selling their home before they agreed to lease their roof.

[RupertB]

Just an update on this one - well, we told the agent that we (they) would not proceed unless the panels were removed and the lease terminated. The offer is still on the table - the guys are in no hurry, 1st time buyers with big deposit. Just a waiting game now although there is another buyer, I wonder if and at what stage they or their solicitor will point out the lease. Fell they should have known from the outset really to stop them spending money on a survey and legal fees which at least DD didn't do.

Thank you all though, for your input - much appreciated !

[Blue nose]

If they were a problem it would have come up on survey. Assuming the contract for repair was sound I wouldn't hesitate. They'll also have significantly lower bills.

My BIL had them and sold without issue. I haven't got them but want them. When we last remortaged Santander asked about them I asked if it would be an issue as we were considering at a later date. He said no. It's either reducing my bills or if we own them an income which helps their lending calculations 👍

I think in your case it's easier for people to advise against rather than do their due diligence.

If they are really keen on the house do your research properly with legal advice and a solicitor that knows not heresy on the internet. There must be other houses in the area with them. You/they might be able to negotiate price down due to perceived risk.

[RupertB]

The problem here was the lease not so much the solar panels. 4 local solicitors didn't want to know and the one instructed who I know really well and deal with on a daily basis, told us to walk away from the house due to the lease - 2 years in to a 25 year lease. If they had been owned outright it wouldn't have been an issue.

[Blue nose]

Originally Posted by RupertB

The problem here was the lease not so much the solar panels. 4 local solicitors didn't want to know and the one instructed who I know really well and deal with on a daily basis, told us to walk away from the house due to the lease - 2 years in to a 25 year lease. If they had been owned outright it wouldn't have been an issue.

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Maybe speak to the solar panel company about how to to transfer the lease, if it is the perfect property then find a way 🤔