Tuesday, July 3, 2012
Free Electricity - Caveat Emptor - Urgent Alert
The UK Government is changing the feed-in electricity tariff and many people will be tempted to rush into a solar panel agreement in the next few weeks.
Imagine your new FREE solar panels, recently installed, start to make you sick and your home becomes no longer tolerable?
What to do? Have the panels taken off? Check the terms of your agreement. The “Free Solar” company did not install them for free, for nothing.
Can you sell-up and move?
Mortgage companies are not surprisingly unwilling to enter into an agreement with a third party that may endure for many years to come. If you have been foolish enough to lease your roof space to a solar panel company in anticipation of free electricity, then you can only hope for a cash buyer. Otherwise it is unlikely that the buyer’s mortgage company will adopt the enduring agreement you have freely entered into.
Does this sound like a nightmare scenario? It is.
You do not want to go there. Caveat Emptor - Buyer Beware!