John Terry owes £4.65m on £2.25m home after remortgaging for fourth time (despite earning £170,000 a WEEK)
John Terry has remortgaged his mansion for a fourth time, taking his home loan to a staggering £4.65million, it has been reported.
The huge sum is more than twice the £170,000-a-week Chelsea captain paid for the house, The Sun reports.
He bought the property in Oxshott, Surrey, for £2.25million in July 2003, according to publicly available records.
Land Registry records seen by the Sun show the England captain carried out the most recent remortgaging deal last June.
He remortgaged with Northern Rock 12 months after first buying the house, then with Queen's banker Coutts - through whom he bought the house - in March 2006 and yet again in 2009, Land Registry figures show.
At the time his agent insisted that the footballer, who has repeatedly denied having a gambling problem, was simply taking advantage of a generous rate of interest to fund other property deals.
The value of Terry's property will have risen since he first bought it, but he still has an incredibly large mortgage for someone earning more than half a million pounds a month.
A source told The Sun: 'It is very unusual behaviour for someone earning significantly more than half a million pounds a month.'
Based on current premium account rates, the monthly repayments on Terry's own home loan are likely to be about £13,500. His mother-in- law's property would add around £4,700.
His agent said Terry, facing race charges after an incident involving QPR defender Anton Ferdinand, had a 'vast property portfolio in the UK and around the world'.
Terry is due to appear at West London magistrates' court on February 1 to be charged with a racially aggravated public order offence, accusing him of causing someone ‘harassment, alarm or distress’ under the Crime and Disorder Act 1998.
The charge relates to a penalty box clash with Ferdinand at QPR's Loftus Road stadium in October in which he is accused of calling Ferdinand a ‘f****** black ****’.
Terry, who denies any racial abuse, said after the match that he told Ferdinand, whose brother Rio plays alongside him for England, that the remarks had been taken out of context, insisting he actually said: ‘Oi, Anton, do you think I called you a black ****?’
However, prosecutors decided there was enough evidence, including TV images of the incident that were beamed around the world, to charge him.
The Sun also reported that Terry remortgaged his mother-in-law's home in a move apparently to generate cash to build a vast luxury estate from scratch.
He bought Sue Poole her mansion next door to his own for a reported £3.15million in August 2007, but remortgaged on June 7 last year - the same day he remortgaged his place for the fourth time, The Sun reports.
Months earlier he had won planning permission to turn the site into a ten-bedroom super mansion.
Work began six months ago and is due for completion in December. Terry aims to move there with wife Toni and their five-year-old twins Georgie John and Summer Rose.
At one point he had tried to free up some capital by selling it for a huge profit.
First he asked £5million in 2010. He then cut the price by £250,000 and - when it still didn't shift - by another £500,000 to £4.25million.
During this time he also tried to sell his own mansion for £6.5million, but had no offers had that price.
without Mikel and Lampard starting. AVB shd really bench any suckers who is underperforming.
