London Baptist Property Board
The London Baptist Property Board Ltd (LBPB) was founded and incorporated on 30 March 1906 by the London Baptist Association. It was established to assist churches with the management of their property.
The staff of the LBPB are:
|Jackie Penistone||Trust Officer|
The LBPB has two main areas of operation: running a deposit and loan fund for churches and acting as holding trustee for churches. Follow the links below for more information.
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 scroll down.
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 scroll down.
Each year the LBPB publishes an Annual Report and Accounts. Those since 2000 are available in the LBPB General Download area.
You will also find the LBPB Memorandum and Articles of Association in the LBPB General Download area.
- Chairman: Rev Paul A Winchester BD ACIB MCT
- Trust Officer: Eur Ing Jackie R Penistone CEng MIMeche MSc BSc LLB
- Rev Geoff E Andrews BA MA MMin (Beckenham Baptist Church)
- Mr Howard R Brown FCA (Bloomsbury Central Baptist Church)
- Mr Olu O Obidipe ACMA MBA (Harringay United Baptist Church)
- Mr Anthony J A Pike MA FIA FCSI (Croham Road Baptist Church)
- All appointed by the LBA Board.
Solicitors: Carter Lemon Camerons LLP, 10 Aldersgate Street, London EC1A 4HJ
Surveyors: Biscoe Craig Hall, 5-6 Staple Inn, Holborn, WC1V 7QU
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 1 August 2013 are:
Deposit accounts 0.5% (CAR 0.5%)
Loan accounts 3.2% (APR 3.25%)
Interest rates from 1 May 2013 to the end of July 2013 were:
Deposit accounts 0.6% (CAR 0.6%)
Loan accounts 3.3% (APR 3.35%)
Interest rates from 1 November 2009 to the end of April 2013 were:
Deposit accounts 0.8% (CAR 0.8%)
Loan accounts 3.5% (APR 3.55%)
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.
See below for:
Sale, purchase and leasing of church property
Redevelopment of church property
Regular inspection of church property
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.
Churches who occupy listed buildings have to take particular care when they are carrying out any work on their premises. Consent needs to be sought not only from the LBPB but also from the Baptist Union’s Listed Buildings Advisory Committee. Churches who have responsibility for listed buildings should make themselves familiar with the relevant guideline documents 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