There can be a lot to think about when selling a house but fear not, we’ve got all the answers! If you have a Feed-in Tariff and are wondering what will happen to it when you sell your house, then keep on reading.
The scheme
Feed-in Tariff (FIT) is a UK government scheme aimed at encouraging homeowners and businesses to generate renewable energy by providing financial incentives for doing so. If you have installed a renewable energy source such as solar panels, you may be eligible to receive FIT payments, which are typically paid quarterly. However, if you sell your property, the payments will typically stop, as they are tied to the property and usually transferred to the new owner.
When you sell your house, the transfer of ownership will typically involve the transfer of FIT payments as well. This means that the new owner of the property will become responsible for receiving the payments and ensuring that they comply with the terms of the FIT scheme. If the new owner decides to continue receiving the payments, they will need to provide the FIT supplier with their contact details and information about their property. The FIT supplier will then verify the information and make any necessary changes to their records.
Transferring your FIT payments
However, if you are planning to buy a new property within 12 months of selling your previous property, you may be able to transfer your FIT payments to your new home. This can be a great way to continue receiving the financial benefits of your renewable energy installation and ensure that you get the full value from your investment. To transfer your FIT payments, you’ll need to inform your FIT supplier of your new property details and provide them with the necessary information.
If you don’t buy a new property within the specified timeframe or if you choose not to transfer the payments, your FIT payments will in turn stop, and you won’t receive any more payments for the energy you generated. This means that it’s important to carefully consider your plans and take into account any potential changes to your circumstances when deciding whether or not to transfer your FIT payments.
Fast Cash 4 Houses
If you are looking to sell your house then look no further. With Fast Cash 4 Houses, you can receive a quick, free no-obligation cash offer within 24 hours, and we can sell your property in as little as 7 Days, making us the perfect option for those selling in a hurry!
We’re always on hand to answer any queries you may have and will always go the extra mile to ensure your house-selling venture goes smoothly.
To get your free no-obligation valuation today and to find out more about how we can help then visit our website at https://fastcash4houses.co.uk/ or get in contact with us to speak to a member of our team directly on 01204 294356 or [email protected]. At FastCash4Houses, we will handle your house sale with efficiency and with care.
