Showbiz

Prince Harry and Meghan to repay $3 million renovation cost on U.K. home

by WENN May 19th, 2020, 12:10 pm

WENN

Prince Harry and Meghan, Duchess of Sussex will reportedly keep their previous home of Frogmore Cottage under their ownership – as they repay the near-$3 million renovation cost funded by British taxpayers.

According to Britain's Daily Mail newspaper, the pair, who stepped down from their duties as senior members of the U.K. royal family in April, started paying rent on the property that month.

The report explains that the pair's monthly payment constitutes "a 'rental-plus' agreement in which they pay more than what the commercial rate would be, enabling them to pay down those building costs with the excess."

After announcing their decision to step down from their public duties, the couple had intended to pay back the cost of the cottage on the Windsor Castle estate, which they moved into ahead of the birth of son Archie in 2019.

Harry and Meghan are currently isolating in Los Angeles, in Tyler Perry's lavish Beverly Hills mansion. Reports suggest the pair were introduced to filmmaker Perry by mutual friend Oprah Winfrey.

158842
157981