MR01' (ef) Farmer lent developer money, our plot is security?

buel10

Hi all.
We are a few weeks away from exchanging contracts on an a new build and using H2B.We are due to have a 'Zoom' chat with our conveyancing solicitor next week. The following is an update on where we are at and what we found yesterday regarding a MR01 (ef):

We established that a farmer has retained the ownership of a private road that will be shared by us and our neighbours (six of).
Having done a little search for the farmer's name, I found a 'MR01' (ef) Registration of a charge (legal charge) document that suggests that the farmer lent money to the developer with the land that our house is being built on, plus one other. being the security.
The date of the document is September 2019 but refers to an agreement made in 24th October 2017.
The status on Companies House is 'outstanding'.
This copied from the document:

Planning Acts
means the Town and Country Planning Act 1990, the Planning (Listed Buildings and Conservation Areas) Act 1990, the Planning (Consequential Provisions) Act 1990, the Planning (Hazardous Substances) Act 1990, the Planning and Compensation Act 1991, the Planning and Compulsory Purchase Act 2004, the Planning Act 2008, the Localism Act 2011 and all statutes, regulations and orders included by virtue of clause 1.8. 

Principal 
£125,000 (One Hundred and Twenty Five Thousand Pounds) 

Arrangement Fee 

£25,000 (Twenty Five Thousand Pounds) 

Property 

means the property specified in the schedule and all buildings, erections, structures, fixtures, fittings and appurtenances on the Property from time to time. 

Redemption Date 
means 11th March 2020.

We have our TR1 and this isn't mentioned in it. My questions are:
1. Should this have been mentioned?
2. Is this something to be concerned about?

davidmcn

No, you can assume that any existing charges get discharged on completion. The same as buying a "normal" house - if you look at the seller's title you'll see their mortgage.