High-pressure sales tactics and lucrative guarantees from solar panel companies have led to thousands of UK residents left with underperforming or faulty solar panels installed on their home. Many people have been left out of pocket from these “self-funding” solar panels, and have been put into an uncertain financial position.
Solar panel companies understand most UK households cannot afford the solar panel installation on their own. This is why they offer finance options from finance providers like Clydesdale Finance Services. Clydesdale have provided many customers with loan agreements, funding the purchase of the solar panels. However, if the panels are not performing to their promised standard, this is a mis-selling of finance.
Find out today if you can claim against Clydesdale Finance Services and potentially get your money back from the purchase, including any costs for repairs and removing the solar panels.
Who are Clydesdale Finance Services?
Clydesdale Financial Services Limited is a wholly owned subsidiary of Barclays Bank PLC. In fact, Barclays Partner Finance is a trading name of Clydesdale Financial Services Limited.
Barclays and Clydesdale were one of the main banks that financed the installation of solar panels when the industry was first blossoming. Clydesdale would offer customers finance deals on the basis that the excess energy made from the solar panels would pay off the debt.
This is down to the UK residents being told by solar panel companies that their solar panel systems would be “self-funding”, not only saving them money on monthly energy bills, but also making them money from this excess energy they produce. This excess energy would then be directed into the National Grid, and they would be paid for the energy.
However, many customers are slowly finding out that this promise has not been kept, and the energy that the solar panels are producing is far less than expected. This has left many paying off their finance deal from Clydesdale out of their own pockets, with no extra income coming in from the solar panels.
Claim Experts believe this is wrong, and if you have been mis-sold the solar panels, you have been mis-sold the finance agreement from Clydesdale.
Were you sold “self-funding” Panels using Clydesdale Finance?
These solar panels cost anything from £7,000 – £15,000. Solar panels use lenders like Clydesdale Finance to finance the project, as they know most households do not have that cash.
The finance would be agreed by lenders due to the fact that the solar panels would be self-funding.
In our panel's experience, this promise has never materialised. Many of their clients have had to top up their monthly repayments out of their own savings due to the solar panels not performing to their promised capability. This has left many in a serious financial situation with lots of debt.
What can I claim compensation for?
Claim Experts believe no one deserves to put in any financial strain due to the mis-selling of solar panels. This is why our panel of solicitors regularly help clients claim back money for their purchases.
The solar panel compensation you can claim back can cover the following:
- Your initial investment
- Any existing balance of your finance agreement
- The cost of removing the solar panels
- The cost to repair your property if there is damage
We understand the stress and anxiety the large monthly repayments can cause those who have purchased solar panels. This compensation can put your mind at ease, and put you in the financial position you were in before you first dealt with Clydesdale Financial Services.
Do I have a Clydesdale Financial Services Solar Panel Claim?
Whether you have a valid claim will depend on a number of things, and it is always best to speak to one of our experts first. There are a few common questions our panel ask clients, however. These are:
- Did you purchase the solar panels in the last six years?
- Did you purchase the panels using Barclays finance?
- Are the panels not performing to their promised standard?
- Were you misled about the financial benefits of the solar panels?
- Are you left with a substantial deficit each month between those financial benefits and the finance repayments?
- Is the equipment faulty or installed incorrectly?
If you answer yes to one or more of the above questions, it is likely you will have a claim for compensation.
The Solar Panel company are no longer trading – Do I still have a claim?
Yes, you still have a claim. The claim itself is lodged under Section 75 of the 1974 Consumer Credit Act, and is against the finance provider. In this case, that is Clydesdale Finance Services.
This part of law states that if you purchased items over £100 using a finance agreement or credit card, you are protected by law.
If you believe you have a claim against Clydesdale Finance Services, Claim Experts can help you bring a claim for compensation against them for the mis-selling of the finance. Get in touch today to see if our panel can help.
Start your Clydesdale Solar Panel Claim Today
Do you believe you have been mis-sold underperforming or faulty solar panels? Were you promised a return on investment that has not materialised? Let our solar panel advisors help you on your first steps towards mis-sold solar panel compensation today.
Our legal panel has experience of bringing successful claims against solar panel companies and finance brokers who finance the selling of them. We are regulated and authorised by the Financial Conduct Authority.