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Question: 5.14.3. Does the lender have additional requirements relating to leases of roof space for solar PV panels, and if so, what are they?
| Lender | Answer |
|---|---|
| Accord Mortgages Ltd | Yes. Please ensure that the requisite break clause includes a provision that, where the lender terminates the lease, the costs of removing the solar PV panels and making good any damage are expressly the responsibility of the solar PV provider. |
| Atom Bank plc | Not applicable. See 5.14.1. |
| Aviva Equity Release UK Ltd | Yes - the lease must generally be compliant with UK Finance guidelines and in any event the terms must comply with Aviva's current requirements. Contact point in 1.10 for further guidance on our requirements. |
| Bank of Ireland (UK) plc | No |
| Bank of Ireland as Bank of Ireland Mortgages | No |
| Bank of Scotland Beginning A | |
| Bank of Scotland Beginning O | |
| Barclays Bank UK PLC | |
| Birmingham Midshires | |
| Bradford & Bingley Limited | |
| Britannia, a trading name of The Co-operative Bank plc | |
| Chelsea Building Society (a trading name of Yorkshire BS) | Yes. Please ensure that the requisite break clause includes a provision that, where the lender terminates the lease, the costs of removing the solar PV panels and making good any damage are expressly the responsibility of the solar PV provider. |
| CHL Mortgages |
Yes, all leases and relevant documents must be reported to Customer Services, Capital Home Loans Ltd, Admiral House, Harlington Way, Fleet, Hants, GU51 4YA |
| Co-operative Bank plc | Yes. Please also ensure that we have an unconditional right to break the lease in the event of possession. |
| Coventry Building Society | Yes, the minimum handbook requirements must be met. In addition the lease must contain a valid mortgagee break right which is exercisable on possession. The cost of removing the equipment and making good any damage must be met by the Tenant. The mortgagee will not be liable for any breach of the Landlord's covenants before or during the repossession period or any loss of income caused as a result of disconnection of the electricity supply.Please arrange for a Deed of Variation to be entered into on or before completion to ensure our requirements are met. If this is not possible advise the applicants and us that the requirements cannot be met and the case cannot proceed. |
| Danske Bank |
We do not accept properties where solar panels have been installed and are subject to a lease agreement. However, please notify us at the contact point at 1.11 if the solar panels have been installed at the property and the panels are owned outright by the seller or the borrower. |
| Ecology Building Society |
Where a Lease of Rights is requested in respect of installation of solar panels, the provider/homeowner must seek consent from the Society. For re-mortgage cases evidence of the lease must be provided. |
| First Direct | We will only consent to a new Lease of Rights where the UK Finance minimum requirements are met. We require confirmation of compliance using the UKF template letter where our consent is required to register a new Lease of Rights (relating to the roof space for solar PV Panels).The Lease of Rights (relating to roof space for solar PV panels) must meet the UKF minimum standards. If the lease does not meet the UKF minimum standards and you are unable to agree a variation to ensure the lease meets the UKF minimum requirements, the case cannot proceed and you should advise the applicants and us. We do not require a copy of the lease. |
| First Trust Bank | We do not accept a lease arrangement (of the roof space) for Solar PV panels |
| GE Money Home Lending Ltd | GE Money Home Lending has withdrawn from the UK mortgage market. |
| Godiva Mortgages Ltd | Yes, the minimum handbook requirements must be met. In addition the lease must contain a valid mortgagee break right which is exercisable on possession. The cost of removing the equipment and making good any damage must be met by the Tenant. The mortgagee will not be liable for any breach of the Landlord's covenants before or during the repossession period or any loss of income caused as a result of disconnection of the electricity supply.Please arrange for a Deed of Variation to be entered into on or before completion to ensure our requirements are met. If this is not possible advise the applicants and us that the requirements cannot be met and the case cannot proceed. |
| Halifax | |
| Halifax Loans Ltd | |
| Hampden & Co. plc | |
| HSBC UK Bank plc |
We will only consent to a new Lease of Rights where the UK Finance minimum requirements are met. We require confirmation of compliance using the UKF template letter where our consent is required to register a new Lease of Rights (relating to the roof space for solar PV Panels). We do not require a copy of the lease. |
| HSMS | |
| Intelligent Finance | |
| ITL Mortgages | Yes, the minimum handbook requirements must be met. In addition the lease must contain a valid mortgagee break right which is exercisable on possession. The cost of removing the equipment and making good any damage must be met by the Tenant. The mortgagee will not be liable for any breach of the Landlord's covenants before or during the repossession period or any loss of income caused as a result of disconnection of the electricity supply.Please arrange for a Deed of Variation to be entered into on or before completion to ensure our requirements are met. If this is not possible advise the applicants and us that the requirements cannot be met and the case cannot proceed. |
| Kensington Mortgage Company Ltd | We do not accept properties with solar panels. |
| Landmark Mortgages Limited |
"Yes, 1. The terms of the insurance policy under which the solar panel equipment is insured must: a) cover loss arising from any damage to the Property or any damage to third party property or third party injury caused by the installation of the equipment; b) cover loss arising from any damage to the Property or any damage to third party property or injury caused by defects in the equipment; c) have a minimum amount of cover of £2,000,000.00; d) contain no onerous or unreasonable exclusions; e) have an excess not exceeding £250.00 2. The consent of the buildings insurer must be obtained to the installation of the equipment. 3. Where the Property is leasehold the written consent of the immediate landlord must be obtained to the installation of the equipment. 4. The solar panel lease must contain a reference to the Landlord's warning notice, a reference to the Tenant's statutory declaration and the parties' agreement that sections 24 to 28 of the Landlord and Tenant Act 1954 are to be excluded." |
| Leeds Building Society | Yes, please refer to the Mortgage Lending Department (as per 1.10a), who will provide you with the relevant documentation. |
| Lloyds Bank plc | |
| Lloyds TSB Scotland plc | |
| M&S Bank | no |
| Mortgage Express | |
| Mortgage Express (No 2) | |
| National Westminster Bank plc | No. We do not accept any lease arrangement for solar PV panels, only a lease of rights. The CML minimum requirements must be met and template letter submitted. |
| Nationwide Building Society | We do not accept a lease arrangement (of the roof space) only a lease of rights (over the roof space). The minimum UK Finance requirements must be met. For post completion requests, the borrower should be advised to ask the energy provider to correspond with Nationwide Mortgage Servicing DX 12500 using the UK Finance minimum requirements template. |
| New Street Mortgages | New Street will not lend on a property subject to a lease of the roof space/air space for solar PV panels unless the lease meets New Street's minimum requirements and the solar panel enters into a deed of agreement with New Street. Please ensure that you seek to obtain our consent to the lease at the earliest opportunity and, in any event, prior to exchange of contracts. If the terms of the lease and/or deed of agreement cannot be agreed, then any mortgage offer may be withdrawn. You should ensure that your client is fully aware of this. |
| NRAM Ltd | |
| Platform (a trading name of The Co-operative Bank p.l.c.) | |
| Sainsbury's Bank | Yes. Please ensure that the requisite break clause includes a provision that, where the lender terminates the lease, the costs of removing the solar PV panels and making good any damage are expressly the responsibility of the solar PV provider. |
| Santander UK plc | No. |
| Scottish Widows Bank | |
| The Mortgage Business | |
| The Royal Bank of Scotland plc | |
| TSB Bank plc | |
| Ulster Bank | |
| Virgin Money |
We need you to confirm in writing that the lease contains a valid mortgagee break right, which we can exercise if we take possession of the property. Send this confirmation to: Mortgage Processing Operations Virgin Money Gosforth Newcastle upon Tyne NE3 4PL Solicitor Helpline: 0845 604 4858 Solicitor Email: postoffer@virginmoney.com |
| Yorkshire Building Society | Yes. Please ensure that the requisite break clause includes a provision that, where the lender terminates the lease, the costs of removing the solar PV panels and making good any damage are expressly the responsibility of the solar PV provider. |