Twitter Facebook RSS FEEDS

Warning to think before renting your roof

Wednesday, 2 November 2011 9:10 AM

Be careful if you decide to let your roof space for a green energy scheme – you could be violating your mortgage terms and put your property's saleability at risk.

That's the warning from the Royal Chartered Institution of Surveyors (RICS) as companies look to benefit from the government's feed-in tariff (FIT) scheme by renting roof space from home owners for solar panels.

The idea is that the leasing company then sells the electricity generated to power suppliers for a profit and home owners get an extra income.

But the RICS is warning that many leases run for up to 25 years with no break clause. That can tie home owners to agreements that could put them in breach of their mortgage terms, discourage potential buyers and even create structural problems for the property.

And it adds that until the introduction of the Green Deal is introduced in 2012 installers are not formally accredited.

David Dalby, RICS director, said: "It is important that consumers are aware of the potential dangers before entering into these agreements. Leasing roof space can generate much-needed additional income for households. However, anybody considering it should consult their mortgage provider and seek legal advice beforehand."

Want to be the first to know when we break a story? Follow @AboutProperty on Twitter and subscribe to our free weekly newsletter. 

Related stories

Solar panels could cut electricity bills by £177 a year

One in ten Brits put off by perceived 'green' cost

Energy efficient products are seen as a waste of money by one in ten Brits.

 Christopher Hopkins from Ploughcroft with Deborah Meaden

Halifax solar roofer Ploughcroft gains shining light as investor

Halifax roofer and former bodybuilder Christopher Hopkins took Dragons Den by storm, securing an investment from Deborah Meaden. So what next for the growing company?
House with solar panels

Energy minister intervenes in solar panel row

A Government minister has pledged to intervene in the growing chaos surrounding the installation of solar panels on people’s homes.

 House with roof-mounted solar panels

Solar panel comparison website launches

Now you can compare prices and installers in your local area before ordering photovoltaic solar panels.
street

Search begins for UK's first all-solar street

A nationwide search has been launched to find a UK street where all the properties are eligible for free photovoltaic panels.

 Solar PV panel

Brits missing out on £200m solar panel savings

Families across the UK could significantly lower their household bills if more people took advantage of free solar panels.
A conservatory is one of the few improvements that will add more value than it would have done last year. Image:Thinkstock

Owners warned: think before you improve

As we gear up for the Easter DIY season, HSBC wants that home improvements boost value by less than before.

Holding cigarette above ashtray

Warning: smoking can seriously damage your wealth

Research shows buyers and renters think twice about moving into property previously occupied by smokers.
MPs warn of the risk of people falling into negative equity on the NewBuy scheme.

MPs sound warning on NewBuy problems

Commons committee worried that guarantee scheme could restrict mortgage supply in rest of market and lead to negative equity.

 At a lower level renting is more expensive than getting a mortgage.

Renting is cheaper than buying for prime property

Renting at the top end of the market is 23 per cent cheaper than the cost of a mortgage, says PrimeLocation.com.

Search property

Headlines

Directory

Alaris

Alaris Logo
Alaris specialise in quality Bathrooms and Kitchens along with many other unique products for your home. The range of kitchens, kitchen worktops and bathrooms is extensive and the highest quality so you are sure to find what you want. New bathroom furniture, bathroom suites, taps, showers and cabinets are added regularly.

Bathrooms365

Bathrooms365 Logo
Bathroom365 supply all areas of your new bathroom - leading-edge designed bathroom suites, stylish bathroom taps and showers, all styles and forms of shower enclosures and a vast collection of bathroom furniture.

Fitmykitchen

Fitmykitchen Logo
Fitmykitchen are specialist suppliers of kitchen appliances, sink taps, waste bins and furniture. So whatever you want from kitchen sink taps to waste bins look no further than fitmykitchen, UK, the specialist suppliers of kitchen appliances, stainless steel sink taps, waste bins and kitchen furniture.

MyStampDuty

MyStampDuty Logo
We help people buying property all over the UK to minimise Stamp Duty Land Tax on residential and commercial property. If you are looking at purchasing a new home or business premises over £500,000, contact us today by completing the form on the right

Oak Furniture Land

Oak Furniture Land Logo
For hardwood furniture, including Solid Oak, Mango, Mahogany, Sheesham, Acacia, Ash and Birch, look no further than Oak Furniture Land.

Rated People

Rated People Logo
Whatever type of home improvement or garden remodelling project you have, Rated People can help you to identify the right tradesmen for the job in a way that is quick, easy, convenient and, as it is based on real-life recommendations, trustworthy.

Residential Land

Residential Land Logo
If you are looking for short or long term rentals in Central London, Residential Land have a portfolio of over 1200 flats and houses in the best postcodes across the Capital.

Simply Bedrooms

Simply Bedrooms Logo
Simply Bedrooms, a part of Sleepwell Bedrooms Ltd, supplying quality beds, wardrobes, sliding door wardrobes and bedroom furniture at low prices and great service, London and Home Counties Specialists.

Door Handles UK

Door Handles UK Logo
Door Handles UK is the UK's largest online range of Door Handle accessories, Door Hinges, Locks and Latches and so much more and all at genuine internet prices. We have a wide range of Chrome, Brass and Glass Crystal Mortice door knobs in both traditional and contemporary designs, whatever your taste and budget you will find a design to suit.

Woodlands Furniture

Woodlands Furniture Logo
We are an established family business situated in rural Herefordshire specialising in beautiful handcrafted classic reproduction furniture. Our comprehensive ranges are readily available from stock.

WowBBQ

WowBBQ Logo
Welcome to the World of Weber. We are the largest independent online Weber BBQ retailer in the United Kingdom. WOWbbq.co.uk is a Weber Partner Store and can give you the best advice for all your Weber BBQ needs.

Join our directory aboutproperty.co.uk

Twitter

Join the conversation at #aboutproperty

Directory articles

A guide to finding the right kitchen sink

When redesigning a kitchen or giving the room a makeover, it is important not to forget about the less obvious aspects of the space. Kitchen sinks are an essential fitting, but often overlooked, despite the fact there is a wide choice of styles available.

Useful tips to help find a flat in London

Looking for flats in London can be a frustrating process, given the capital's size, demand for rental accommodation and varying prices. It is vital, therefore, that you do plenty of research and act quickly to ensure you get the place that you want.

What do you need to consider when buying a mattress?

If you looking for a new mattress, you need to get the decision right, as getting it wrong could impact on your overall health and wellbeing. As well as comfort and size, you also need to consider other points, such as any health issues you may have.