Solar panels cast shadow on sales
THE Royal Institution of Chartered Surveyors is urging caution to buyers looking at properties with “free” PV panels, as it may lead to their mortgage application being declined.
Some banks and building societies are refusing to lend on properties with roofs leased for the use of PV panels, which were installed by solar companies for free with a proviso that they collect the Government’s Feed-in Tariff.
David Dalby, Director of Residential at RICS said: “We support the use and production of sustainable energy, however, these ‘free’ panels can cause a further barrier to homeownership. An inflexible PV panel lease, without a buy-out clause, could result in a failed transaction.”