From 1st July the Council of Mortgage Lenders is integrated into a new trade association, UK Finance. For the time being, all UKF mortgage information will continue to be published on this website, and UKF member-only mortgage information will only be available here.

UK Finance represents around 300 firms in the UK providing credit, banking, markets and payment-related services. The new organisation takes on most of the activities previously carried out by the Asset Based Finance Association, the British Bankers’ Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association. Please go to www.ukfinance.org.uk for wider content and updates from UK Finance.

Last updated: 30 March 2016

At a glance

  • The market for photovoltaic (solar) panel installation has developed in recent years as the result of government policies encouraging the generation of low-carbon energy. We have provided more information about other energy efficiency initiatives, such as the Green Deal and Domestic Renewable Heat Incentive.
  • Many solar panel providers lease the airspace on and above the roof of a property to protect their ownership of the panels. Mortgage customers will usually need their lender’s consent to enter into such a “roof space lease” with a solar panel provider. This is to ensure that the value and future market appeal of the properties concerned are not adversely affected.
  • To help lenders assess whether or not to give consent to roof space leases, the CML and the Building Societies’ Association published joint guidance and minimum requirements regarding roof space leases for fitting photovoltaic (solar) panels.

CML position

The CML supports renewable energy initiatives in principle. 

We provide information to help the sector and its mortgage-holding customers understand what lenders need to give consent to installations.

We encourage the adoption of new energy technologies provided this is done in a way which protects the value and market appeal of the properties concerned.

Why this is important for lenders

Generally, solar panel providers protect their ownership of the panels by leasing a part of the property where the equipment is to be installed. A lease of this type will usually require lenders’ consent under the terms of the mortgage contract lenders have with their customers. This is because the value and/ or market appeal of the property might be affected.

As well as giving consent to mortgage customers and the solar panel provider, lenders might also have to consent to the registration of the roof space lease at the Land Registry.

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The following content is available for Members only. If you are a member of this group please login or register to gain access.

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