The mortgage on Sir Keir Starmer’s £2 million townhouse has been paid off, official documents show.
Sir Keir and Lady Starmer have achieved what many homeowners can only dream of – putting them in the top one-third of English homeowners in not having to make mortgage or rent payments.
The four-bedroom property, in north London’s trendy Kentish Town, officially became mortgage-free on Monday last week.
There was previously a loan from Barclays Bank noted on the Land Registry title deed, a public document. But on September 16, it was updated to show the loan has been ‘discharged’, meaning the high-street bank no longer retains any rights over the four-storey terraced house.
Previously the Labour leader has politically ‘weaponised’ his mortgage to attack the Conservatives. While in opposition, he condemned then-PM Rishi Sunak for failing to understand the anguish caused by rising mortgage rates.
Asked during a live event in June last year whether he and wife Victoria had been affected by rising rates, Sir Keir said pointedly: ‘Yes, we have a mortgage and ours has just gone up.’
Happily for the Starmers, this no longer appears to be an issue.
Sir Keir has long been at pains to play down his privilege and talk about his working-class roots.
However, during his 20 years as a top-flight lawyer, before moving into politics, his earnings have placed him comfortably in the country’s top 1 per cent of earners.
The Starmers bought their home in 2004 for £650,000. Since then they have carried out renovations, including a loft conversion involving the installation of two rooflights and a dormer window.
The property, which is in a sought-after area, is now estimated to be worth £2 million. Added to his £1 million gold-plated pension pot, the Prime Minister is believed to be worth around £3 million
During the 2020 Labour leadership contest, Sir Keir – who was paid up to £400 an hour during his two decades as a senior lawyer – played down his wealth, saying at one point ‘I’m not a millionaire’.
The 62-year-old is entitled to two annual salaries – one as a constituency MP and one as PM – totalling £166,786.
His wife, 50, works in the NHS in occupational health, having previously been a solicitor.
According to The Sunday Times, her salary is believed to be up to £50,000 pro rata.
In recent days, Sir Keir has been embroiled in criticism for taking more than £100,000 worth of gifts and hospitality during the past five years.
They include suits and spectacles worth £18,000 from Labour donor Lord Waheed Alli – who was yesterday seen in Liverpool clutching his own pair of specs and sporting a dark suit and white trainers.
The PM has also accepted a luxury box at Arsenal’s Emirates Stadium.
