Harry and Meghan Financial Woes: Jobless and Drowning in Massive Debts!

Virtually jobless, Meghan Markle and Prince Harry are reportedly now shelling out tens of thousands a month to cover rents as well as the first installments of the £2.4million of taxpayers cash used to renovate Frogmore Cottage. Can this financial pressure further get into them?

According to Express UK, Meghan Markle and Prince Markle are paying £18,000 a month to maintain the massive Frogmore Cottage as their official British base even though they are present in Los Angeles. Weirdly, they are not sure when they will get to spend time in the United Kingdom as well.

Harry and Meghan has officially stepped down from his senior royal roles and left the royal family back on March 31. Still, news had it that the pair are already starting to pay rent at the beginning of April. They have done it so quietly that news outlets did not immediately catch on. 

There's no denying that this would rouse many rumors and malicious reports, given the writeups claiming all their plans in LA are now unstable, and money is likely to be tight soon.

Express UK estimated that it would take over 11 years of payments to complete the whole £2.4million unless the current monthly level changes. Not included in this amount is the interest nor the running costs of the cottage, which can be quite hefty as well.

The arrangement was thought out well, though, even though it can be surmised that it was made at a time when people still did not think the coronavirus pandemic would become this all-encompassing. The arrangement has been described as a "rental-plus agreement" where the couple has to pay higher than the commercial rate, but the excess would be allocated to the renovation. 

Prince Harry and Meghan Markle, while repaying the Sovereign Grant for the Frogmore repairs, will continue to utilize the property as the official UK family home. 

Senior members of the royal family have access to three sources of funds - the Sovereign Grant, the Privy Purse as well as the Queen's own wealth. With the Duke and Duchess of Sussex stepping down for their senior roles, the two have lost access to these funds. 

They were already hit by harsh criticisms when it was revealed that they spent that much on renovation works. Now that they are repaying these and people thinking they do not have access to excess cash like in the past, some negative reports can be further expected.

Just last month, there were several reports that were written of Meghan Markle and Prince Harry's money woes. Some claimed they're nearing bankruptcy, even. It is a logical assumption since they stepped down from royal duties in the bid to make money from acting and speaking arrangements. 

But none of these are happening now, and they are losing savings fast, paying off expensive security, rents, and other expenses to keep their lifestyle at the same level as they were royals. 

"They're still spending a tonne. They're going to end up broke," an insider shared to In Touch.

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