Rent A Roof Solar Panels Mortgage

Homeowners can get solar panels at no cost through free solar schemes where you lease your roof to a solar firm typically for 25 years.

Rent a roof solar panels mortgage. There is a lease agreement in place that covers the airspace above the homeowner s roof. Some home owners have chosen to buy solar panels outright but others who did not want to incur the upfront costs of installations opted for installations which rely on a lease of the roof space for solar panels. In most cases the solar panel company will lease the house s roof space and install the panels for free. We investigate whether customers with solar panels are having difficulties getting a remortgage deal with a new lender.

The term rent a roof is a bit of a misnomer as you are not technically renting out your roof. This can provide complications further down the line when it comes to selling your home or re mortgaging. Typically an installation can cost something in the region of 15 000. Graham turner the guardian we bought a house in 2010 and had solar panels installed on a leasehold.

Free or rent a roof solar schemes allow people to benefit from lower electricity bills by having panels installed at no cost but their roof is then leased to a solar company typically for 25 years. The rent a roof solar scheme allows you to power your home with free electricity without having to buy solar panels. Most rent a roof companies keep ownership of the panels and tie householders in to 25 year contracts. However the company installing the panels will keep the lucrative feed in tariff payments.

Some mortgage companies can raise the roof over the idea of leasehold solar panels. Consumers who have installed solar panels under a rent a roof scheme may struggle to sell their homes and risk breaching their mortgage arrangements the royal institute of chartered surveyors rics has warned. With solar prices at a record low many homeowners are opting to buy the solar panels instead. Free solar schemes also known as rent a roof schemes provide free electricity generating solar panels to householders.

The panels installation maintenance and insurance all come free as part of the package. I have contacted lenders to see if there is any truth to the rumours that they are rejecting customers who are are remortgaging to them from another provider and who have already leased their roof to solar panel companies.