Solar Mortgage
- No upfront payment
- £87 per month (over £1000 / year) income and savings
- £66 per month (£800 / year) added to your mortgage
If you don't want to buy your solar roof outright, one option is to add the cost to your mortgage. Remortgaging or getting a further advance is a popular way to pay for other home improvements, so why not use it to make you money in the longer term?
The income and savings you get from your solar roof are likely to be more than the additional payments on your mortgage. This is the lowest cost route to financing your solar, likely to leave you in profit each year.
If you're interested in adding the cost of solar to your mortgage, contact your existing mortgage provider to see what rate they can offer.
Here's an example:
You're on a 25 year repayment mortgage for £250,000, on a fixed rate of 4%:
- Your existing repayments will be about £1,300 a month, £16,000 per year.
- You add a typical 14 panel (2.5kWp) solar roof costing £12,500 to this mortgage.
- Your repayments will increase by £66 per month, £800 per year, to £16,800.
- You are likely to make over £1,000 each year from the Feed-in tariff income and electricity savings.
- This leaves you over £200 per year in profit on your solar investment, without spending any money upfront.
- Assuming electricity prices increase at their current rate of 6%, your monthly profit will increase too.
- Over 25 years your total profit could increase to £18,000 (this is the income and savings minus the cost of the system and mortgage interest).
For a detailed breakdown of returns see our Investment Comparison Table
Please note: Solarcentury is not a financial services company, so the example shown is indicative only. Customers wanting to compare solar PV as an investment or security should consult an IFA or other relevant professional.
Enter Your Postcode. Get An Instant Estimate
Solar Century Holdings Limited, Registered in England and Wales under number 3570325 Registered Office: 91-94 Lower Marsh, London SE1 7AB, UK +44 (0)20 7803 0100