Chelsea defender John Terry has stunned football fans by remortgaging his £2.25million mansion for the fourth time since 2003 despite earning £170,000-a-week.

Terry is now paying an estimated £4.65m for his home in Oxshott, Surrey as a result of the borrowing.

The Chelsea and England player's agent told the Sun that he was simply taking advantage of the Queen's bank, Coutts' low interest rate.

In a bizarre twist, the Chelsea defender also remortgaged his mother-in-law's £3.15m mansion on the same day.

Terry's Oxshott home is currently undergoing a make-over after he won planning permission to turn the property into a ten-bedroom 'super mansion'. The work began in July 2011 and is due to be finished in December 2012 and Terry is expected to move his family into the mansion.

The Daily Mail calculated that based on current premium account rates, the Chelsea player's monthly repayments are around £13,500. He also pays his mother-in-law's mortgage which stands at an added £4,700.

The move shocked football fans that can't understand how a player earning over £650,000 a month could ever need to 'free-up assets'.

A Sun source said: "It is very unusual behaviour for someone earning significantly more than half a million pounds a month."

The England captain, who is currently in the midst of a race row with QPR's Anton Ferdinand, tried to sell off some of his property for a huge profit back in 2010, but had no offers.

His agent also mentioned that Terry had a "vast property portfolio in the UK and around the world".