One Million Homeowners in the UK were potentially Mis Sold Solar Panels that may not work as promised.
The Financial Ombudsman has confirmed that they have received over 2,000 complaints from people who claim that they have been mis-sold loans for solar panel systems that they say have not provided the returns that they were promised.
The Mis Sold Solar Panel systems cost anywhere between £10,000 – £15,000 with many taking out loans to fund the installations.
One specific lender Barclays sold financing for solar panels between 2011 – 2015 and they have now stated that they have set aside £38.5 million to deal with claims from solar panel owners.
Many of the companies involved in solar panel installation have gone into liquidation however, people who took out the loans to fund the panels may still claim from the loan provider due to misleading information about the savings and financial returns they’d see from the products and the potential incentives banks paid the firms to sign people up to the loans.
Whilst Barclays have not admitted that they paid commission on loans to firms selling solar panels this is something that will be investigated as part of the claim process.
If you purchased solar panels using a loan from the bank and you believe that you were miss-sold the panels and/or loan then get in touch with our experts today.