So­lar pan­els cast shadow on sales

Yorkshire Post - Property - - FRONT PAGE -

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.”

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