Segen - Solar Equity Release

whinmoor · Oct 12, 2016

Anyone else being pursued by "Rainmaker" to get customers to sign up to swap their FiT for a lump sum? See attached documentation.

I like the way they say that if I con my customer, I can make more commission!

Dan · Oct 12, 2016

Is this legit paperwork?

When I get a solicitors letter, what's the address of yours I send them to?

Inbox me if you want I don't mind.

whinmoor · Oct 12, 2016

Yes - I received it today from my account manager at the biggest PV distributor in the country (I think).

It sounds to me like a great opportunity to rip-off my customers but I'd like the opinion of other trusted members of the Green Lounge. They may not have seen it yet as it's a relatively new concept. I didn't want to make it available for public viewing .

Dan · Oct 12, 2016

My bad!!!!!! I totally apologise!

I thought this was in the general (public) green forum!

Continue! haha

Sorry pal. Had a lot of solicitors letters lately and running out of time to deal with them all so end up pulling threads fully because of the hassle.

Gavin A · Oct 13, 2016

I've looked into this, and tbh we're thinking about sounding out. previous customers about it as there will be some who's circumstances have changed and they're more in need of equity release now than the longer term payback.

I think it will also work for people who're wanting to move house but the people buying won't pay extra for the solar.

Niche market, but I know some of our customers have lost out when moving house before, so it's good to have something to offer them to help them get some money back.

Gavin A · Oct 13, 2016

Invertor replacements: - Invertors are replaced every 5-7 years

This bit's hopefully rubbish though, we've been factoring one replacement within the 20 year FIT period based on manufacturers statements and their warranty extension costs.

whinmoor · Oct 13, 2016

Yes, I guess the lump sum will be attractive to some people. If you're out of your inverter and installer's workmanship warranty, then avoiding the potential expense of rectifying problems would be nice.

It will all depend on the offer. Giving up a guaranteed £1k - £1.5k per year for the next 20 odd years in exchange for a lump sum of £10k may make sense in some circumstances.