A fourth re-mortgage for John Terry
It has been reported that John Terry has taken out a fourth re-mortgage on his £2.25 million mansion, taking his home loan to an incredible £4.65 million. The footballer's mortgage is more than double the value of the property.
According to publicly available Land Registry records Terry, who is reported to earn £170,000-a-week at Chelsea, bought the property in Oxshott, Surrey, for £2.25million in July 2003. He re-mortgaged the property with Northern Rock 12 months later and went on to re-mortgage twice more in 2006 and 2009 before completing the latest deal for £4.65million in June 2011.
In an apparent move to generate cash to build himself a luxury estate, on the same day he remortgaged his own house, Terry is believed to have taken out a re-mortgage on his mother-in-law’s house. Based on current premium account rates, monthly remortgage repayments on Terry’s Oxshott property are likely to be around £13,500 with payments on his mother in law's remortgage around £4,700.
His agent insists that at the time, the footballer was simply taking advantage of generous re-mortgage rates to fund other property deals. The value of Terry's property will have risen since he first bought it, but it is still a large mortgage for someone earning more than half a million pounds a month.
