London Baptist Property Board
A significant part of the work of the LBA is carried out by our subsidiary company, the London Baptist Property Board (LBPB. We act as ‘Custodian Trustee’for the vast majority of our member churches. In this role, we assist churches in the management of their properties – offering advise and support on redevelopment projects, acquisitions and disposals, regular buildings maintenance, listed buildings advice and complex legal matters related to property and trusts.
The LBPB is overseen by a Board of Directors and we have two staff, Jackie Penistone (Trust Officer) and Debbie Kachidza (Bookkeeper). Phil Barnard, as Regional Team Leader, is also a LBPB Director bringing his own experience – and pastoral perspectives – to churches facing buildings issues.
The LBPB has two main areas of operation: running a deposit and loan fund for churches and acting as holding trustee for churches.
LBPB Deposit and Loan Fund
The LBPB accepts deposits and makes loans to the Churches for property related matters. For more information, including the current interest rates for accounts, please see below.
The LBPB as Holding Trustee
The LBPB acts as holding trustee for many Baptist Churches in London and a few outside. In 2013 the Board acted as holding trustee for 317 Churches and certain other bodies as listed at the back of their annual report.
For more information regarding the sale, purchase and leasing of church property, church redevelopment and trust deeds, please see below.
Chairman: Rev Paul A Winchester BD ACIB MCT (Crayford Baptist Church)
Trust Officer: Mrs. Jackie R Penistone CEng MIMeche MSc BSc LLB (Croham Road Baptist Church)
Rev Phil E Barnard (LBA Team Leader)
Rev. Jeremiah Dawood (East Ham Baptist Church)
Mrs. Sylvia Salamanca-Espin (London Spanish-Speaking Baptist Church, West Norwood)
Rev. Lee G Johnson (Stoke Newington Baptist Church)
Mr Olu O Obidipe ACMA MBA (Harringay United Baptist Church)
Mr Anthony J A Pike MA FIA FCSI (Croham Road Baptist Church)
Mr. David Reader (Edmonton Baptist Church)
All appointed by the LBA Board.
SOLICITORS: Carter Lemon Camerons LLP, 10 Aldersgate Street, London EC1A 4HJ
SURVEYORS: Rapleys LLP, 51 Great Marlborough Street, London, W1F 7JT
BANKERS: Barclays Bank PLC, UK Banking, 1 Churchill Place, London E14 5HP
AUDITORS: Jacob Cavenagh & Skeet, 5 Robin Hood Lane, Sutton, Surrey SM1 2SW
LBPB Deposit and Loan Fund
The London Baptist Property Board (LBPB) operates a deposit and loan fund for churches and other Baptist organisations in London. Interest is paid on deposits at a competitive rate. Loans are advanced for the purchase of property or for building and redevelopment work. Interest is charged on loans. The interest rates for both deposit funds and loans are variable.
The work of the LBPB is almost entirely funded through the operation of the loan and deposit fund. In addition a large part of any surplus that is made each year is passed on to the London Baptist Association and to Baptist Home Mission. In choosing to deposit money with the LBPB or borrow money from the LBPB churches are helping to support the life and mission of the wider Baptist family.
Interest rates from 10 November 2017 are:
Deposit accounts 0.55% (CAR 0.55%)
Loan accounts 3.25% (APR 3.25%)
Deposit accounts can be opened by sending a cheque to the LBPB office payable to ‘London Baptist Property Board Ltd’ with a letter requesting the LBPB to open an account in the name of the church. More than one account can be opened for each church if it is convenient for the church to hold different funds in separate accounts.
Further deposits can be made at any time. Withdrawals can be made with seven days written notice addressed to the LBPB office.
Interest is calculated on a daily basis and is credited to the account every six months on 30 June and 31 December after which statements are issued.
Full information about the operation of deposit accounts can be downloaded from here.
For any enquiries about deposit accounts contact the LBPB bookkeeper Debbie Kachidza.
Loans are available to help churches with the costs of the purchase, maintenance or redevelopment of church property (including manses). The LBPB is able to lend up to £500,000 to any one church.
The normal conditions for lending are as follows:
- the total borrowing for the project should not exceed 70% of the total project costs
- the term of the loan is 10 years, which can be extended to 15 years
Full information on loans for churches can be downloaded by clicking here. or can be requested from the LBPB office . Further enquiries about applying for loans should be addressed to Jackie Penistone, the LBPB Trust Officer.
Interest on loans is calculated on a daily basis and is charged to loans every quarter – 31 March, 30 June, 30 September and 31 December.
Interest charges must be paid quarterly. The capital is repayable in equal instalments over term of the loan. Churches can choose whether to make capital repayments quarterly, half-yearly or annually.
For any enquiries about loan accounts contact the LBPB bookkeeper Debbie Kachidza.
LBPB as Holding Trustee
The London Baptist Property Board (LBPB) acts as holding trustee for 317 Baptist churches in and around London. This means that the legal title to the church properties is registered in the name of the LBPB and that the LBPB holds the properties ‘in trust’ for the churches.
The LBPB is able to offer churches help and guidance with regard to a range of property and legal matters. As the registered title holder of church property the LBPB has to be involved in all property transactions and will be able to guide churches through the process of purchase and sale.
Jackie Penistone, the LBPB Trust Officer, handles most of the work of the LBPB and should be the first point of contact for churches.
How to find the LBPB Office
The LBPB Office is co-located with the LBA Office at Bloomsbury Central Baptist Church on the western side of Shaftesbury Avenue nearly opposite Shaftesbury Theatre. Convenient tube stations are: Tottenham Court Road, Covent Garden, and Holborn. There are parking meters on surrounding streets. The closest parking is on Bloomsbury Square, Museum Street and Great Russell Street.
Sale, purchase and leasing of church property
If churches are considering selling or purchasing property early contact should be made with the LBPB. The LBPB will normally need to give its approval for the sale or purchase of property and will need to sign various legal documents. The LBPB will also be able to give guidance regarding the special procedures that have to be followed to comply with charity law.
The same applies when a church wants to lease part of its property to another organisation. Churches should contact the LBPB and also take professional advice.
Guideline documents regarding the sale, purchase and leasing of property are available from the BU website www.baptist.org.uk or contact Jackie Penistone.
Redevelopment of church premises
If churches are carrying out work to their church property which requires either building regulations consent or planning approval, the church should submit their plans to the LBPB for approval. The role of the LBPB in this process is to ensure that the church is taking appropriate professional advice. The plans are passed to the LBPB’s surveyors for their comments.
Before entering into any redevelopment programme churches would be advised to read the guideline documents that have been produced by the Baptist Union Corporation.
Regular inspection of church property
It is good practice for all churches to carry out regular inspections of their property to identify and prioritise work that needs to be carried out. This can include inviting a professional to carry out a quinquennial survey every five years. The LBPB has produced a guide to quinquennial surveys which includes a panel of surveyors who are willing to carry out these inspections.
If churches are unable to afford the costs of a quinquennial survey the LBPB has established a fund from which it is able to make grants to offset some of the costs. For more information please contact Jackie Penistone.
Where the LBPB holds the title deeds for church properties there is normally a Trust Deed which is the legal document setting out the purpose for which the property was purchased. For church buildings the trust deed will state what kind of church is entitled to use the building and may include some form of doctrinal statement and provisions for the appointment of ministers and other church leaders. Trust deeds vary enormously. The LBPB is always willing to send a copy of their trust deed to a church on request and churches should seek to ensure that they are working within the terms of their trust deed.
Some provisions of older trust deeds are now out-dated and inappropriate for a church of the twenty-first century. For example some nineteenth century trust deeds allow only male members to vote on matters to do with the sale or purchase of church premises. For advice about amending the provisions of trust deeds please contact Jackie Penistone.
The Baptist Union Corporation has produced guideline documents about trust deeds and model trusts.
The London Baptist Property Board Ltd is Registered Charity No 249768 and Company No 88218 registered in England
London Baptist Association
Registered Office: 235 Shaftesbury Avenue, London WC2H 8EP.
A Charitable Company Limited by Guarantee; Company number: 4325272; Registered Charity number: 1091160