Prince Harry and Meghan Markle’s UK Return Could Bring a Major Financial Burden
Prince Harry and Meghan Markle’s return to the UK may mark a major new chapter for their family, but maintaining their life on both sides of the Atlantic could come with a substantial price tag.
The Sussexes are reportedly planning an extended stay in Britain while keeping their properties in California and Portugal. Alongside those ongoing expenses, the couple also face legal costs, education expenses and the cost of maintaining a private UK residence and security arrangements.
A costly life across three countries
The couple are expected to live in a non-royal property outside London while continuing to retain their $14.65 million estate in Montecito, California, as well as their holiday home in Portugal.
Their 7.38-acre Montecito property, purchased in June 2020 shortly after they stepped back from royal duties, includes nine bedrooms and was acquired through Rockbridge LLC.
Reports say the Sussexes took out a $9.52 million loan from City National Bank, with an adjustable-rate mortgage of 2.49%. The reported monthly mortgage payment is $37,566, or approximately $450,792 a year.
The property tax bill reportedly reached $149,668 last year. Combined with the mortgage, that would put the annual mortgage and property-tax costs at roughly $600,460, before other expenses associated with maintaining the estate.
How long the Sussexes ultimately remain in Britain could therefore become an important factor. One source previously suggested their stay could last “six months” or “a year.”
The Montecito estate still needs to be maintained
Even while Harry, Meghan and their children spend more time in Britain, their California home is not expected to simply sit untouched.
Staff will continue looking after the property, while the family’s rescued chickens will also remain there. The Portugal property, reportedly worth approximately $8.5 million (£6.3 million), will require upkeep as well.
The Sussexes are expected to return to Montecito during school holidays, while reports have also suggested they could spend Christmas in Europe.
There has also been speculation about Harry’s longer-term plans. The Daily Mail has reported that the Duke could spend “the next 12 to 15 years, minimum” focusing on being a full-time parent, while Meghan travels between countries to oversee her business ventures.
Legal bills add another layer of pressure
The couple’s property costs are not the only significant financial consideration.
Harry is also required to pay approximately $13 million in legal costs to Associated Newspapers Limited following a UK High Court privacy case. The payment is due by August 28 and relates to claims involving unlawful information-gathering, allegations that Associated Newspapers denied throughout the proceedings.
At the same time, the Sussexes’ commercial activities have faced uncertainty, including changes surrounding their major Netflix partnership.
Education, housing and security
Their return to Britain also brings a fresh set of expenses.
Archie and Lilibet are expected to attend school in the UK, meaning the family will have education costs depending on the institution they attend.
The Sussexes will also need to cover the cost of their private British accommodation because they are not expected to move into a royal residence.
Security could become another major expense. Harry and Meghan are not automatically provided with taxpayer-funded protection, meaning any private security arrangements required during their UK stay could also add considerably to the overall cost.
For a family maintaining homes, staff and commitments across several countries, the Sussexes’ return to Britain may therefore prove considerably more expensive than simply establishing a new base for their children’s education.
