Barclays Self Funding Solar Panels

Barclays said a 38 5million fund had been set up to compensate customers across a number of different product areas including solar panels.

Barclays self funding solar panels.

Barclays is one of a number of institutions reportedly under investigation over high pressure sales tactics and mis selling of loans to fund domestic solar panels. Brian thompson from rowlands gill gateshead told bbc inside out he was contacted by a salesman for pv solar uk but told him he did. Barclays partner finance part of the wider banking group sold financing arrangements for solar panels between 2011 and 2015. The bbc says that two defunct companies pv solar uk and myplanet are accused of mis selling loans from barclays bank to fund domestic solar pv systems supplied and installed by them.

In december 2018 the government confirmed its intention to end solar panel incentive payments on 31 march 2019 meaning people who have solar panels installed after this won t receive payments for generating electricity or exporting it to the grid. Joan and david rowe from upminster essex fell victim to a door to door solar panel salesman who signed them up for a 14 000 loan claiming they would be better off. If your tax liability is 3 500 before you apply the credit it becomes 500 after the credit. Barclays bank has put aside 38m to deal with potential claims.

Thousands of customers have complained about being mis sold finance for the installation of solar panels on their homes roof according to a bbc news report. Shawbrook bank was contacted for comment. Meaning if you spent 10 000 to install solar panels you are eligible for 3 000 in tax credits.