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June 2011, the CML published guidance and a template letter setting out
lenders’ minimum requirements regarding leases of roof space for the
purpose of installing solar PV panels.
As
of today the guidance and template letter and agreed a number of minor
changes reflecting the practical experience of the lenders.
The
guidance has been amended to provide extra information regarding the
need for obtaining a mortgage lender’s consent for leases of roof space,
and this is directed to members of the public considering lease
agreements. There are also a number of minor amendments, designed to
improve clarity on what the minimum requirements are and where they can
be found. The guidance also refers to re-mortgaging of properties with
these types of leases. Some of the content has been re-ordered for a
better flow.
The
changes to the template letter are designed mostly to help clarify
existing requirements and improve the flow of the letter. However, as a
result of lender experience, there are a couple of amendments to note:
- An amendment has been inserted to strengthen the confirmations regarding building insurance; and
- A requirement has been inserted to require appropriate approvals/certification for the installation.
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