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Beyoncé and Jay Z take out a huge £40million mortgage on their new LA home

The couple have found a new luxury mansion to raise their family in

Chloe Best

They may be the highest paid celebrity couple in the world, worth an estimated $1billion, but Beyoncé and Jay Z are just like us… kind of! Despite having more than enough money to buy property outright, the power couple have just taken out a mega mortgage on their new mansion in Bel Air to the sum of £40million.

Beyoncé and Jay Z, who welcomed twins Rumi and Sir Carter in June, are reportedly paying $90million (£69.7million) for the mansion, which sits on a two acre hillside estate in the celebrity hotspot of Bel Air. The property has 30,000 square feet of living space with four outdoor swimming pools, a spa and wellness centre, a full-size basketball court and a garage with space for 15 cars.

This is the mansion Beyonce and Jay Z are reportedly buying

According to The Los Angeles Times, the musicians took out a $52.8million (£40.9million) mortgage with Goldman Sachs for their new home, which leaves them with the huge monthly payments of $149,600 (£116,029), according to the loan document, which is public record.

GALLERY: See the luxury LA mansion where Beyonce and Jay Z are raising their twins

The couple are looking to set down roots in Los Angeles and have previously been outbid on two other properties in the past year. They have been staying in rented estates during their home search, and have most recently been paying £314,000 per month rent for the luxurious mansion, La Villa Contenta, in Malibu.

Beyonce-Jay-Z-grammysVIEW GALLERY

The couple have been searching for a home for the past year

With five bedrooms and eight bathrooms in a 12,045 square foot estate on 1.62 acres, it has been a great temporary home for the couple to live in with their baby twins and daughter Blue Ivy while they continued their search for a permanent Los Angeles home.

As you would expect, the home offered the luxury and privacy that the couple are used to, with its own gourmet kitchen, library, wine cellar, gym, cinema room and large outdoor terraces with beautiful ocean views. There are also tennis courts and a guest house – ideal for friends or family to stay in while visiting the twins.

See more celebrity homes here.