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Energy efficiency at Lindisfarne
Duncan and Deborah Bayne used a loan from Prometheus to build a home at the Lindisfarne Community, near Coromandel, incorporating energy efficient design principles, clad in Lawson Cypress and with recycled wool insulation in walls and ceilings.
The house has solar water heating and a wood burning stove for space heating in winter. They manage their own sewage and greywater on-site with a septic tank and soakage lines through the orchard. The land on which they have built is owned by The Culdian Trust, a charitable trust with an interest in promoting strong communities and environmental sustainability.
Lindisfarne has been developed significantly over the past six years with an increasing number of dwellings being established there and a growing resident population. The property is also home to the Coromandel Steiner Kindergarten.
The Trust wished to retain ownership of the land and a reasonable degree of control over the management of Lindisfarne. Consequently, unlike other community situations, Deborah and Duncan were not able to become part-owners of the land but were, instead, offered a license to occupy by the Trust.
This arrangement requires a more flexible approach to loan security as a standard mortgage is impossible in this situation. Having reassured ourselves that the license to occupy gave sufficient recognition of a license holder's property rights we approved the loan and found alternative ways to arrange the necessary loan security.
Duncan is an experienced builder, and while they had considerable own funds they needed further finance for materials and to cover living costs while Duncan was building the house and could not continue with his regular building work. The combination of energy efficiency and community building elements of this project made it an attractive one for Prometheus.