A report by The National Audit Office has reportedly exposed some of the royal family’s spending habits and allegedly, King Charles has been funding Princesses Beatrice and Eugenie’s rent.
Here is everything we know…
The two sisters have largely kept a low profile due to the scandals their father has been embroiled in (Credit: SplashNews.com)
King Charles is ‘secretly funding’ Beatrice and Eugenie’s rent
The National Audit Office (NAO) has taken a look into the royal family’s residential property arrangements and whilst doing so, they have reportedly discovered that King Charles has been footing the bill for Princesses Beatrice and Eugenie’s royal residences.
It comes as Andrew Mountbatten-Windsor has also hit the headlines this morning.
Andrew is also under scrutiny due to the National Audit Office’s report.
The report found he had been making money from his property at Windsor, Royal Lodge.
Despite not calling either properties their primary abodes, both Princess Beatrice and Princess Eugenie have homes at two of the royal family’s palaces.
Princess Beatrice has an apartment at St James’s Palace and Princess Eugenie has Ivy Cottage at Kensington Palace.
NAO revealed that both properties have had adjusted rents.
Princesses Beatrice and Eugenie’s rent miscalculated
The cost of their rent has been reduced because the Royal Household properties require tenants with security clearance.
The calculation to work this out was allegedly based on out-of-date open market valuations.
Former Liberal Democrat minister Norman Baker said of the matter: “There’s no way that non-working members of the royal family should be subsidised by the Duchy of Lancaster. The royal family is yet again taking the public for a complete ride.”
The report found that these calculations were based on numbers from years ago.
Princess Eugenie’s rent of Ivy Cottage in Kensington Palace was based on a 2018 valuation.
Meanwhile, Princess Beatrice’s rental cost was based on a 2020 valuation.
As per the NAO, Eugenie’s rent was 50% of the 2018 open market value from 2020 to 2021, and ranged from 55% in 2022 to 63% in 2025.
Beatrice’s rent was 60% of the 2020 market value from 2020-2021 and ranged from 62% to 68% between 2022-2025.
Eugenie’s current rental rates are 64% of a 2026 open market valuation.
And Beatrice’s current rental rates are 68% of a 2026 valuation.
How King Charles has paid for Beatrice and Eugenie’s rent
King Charles is said to be fund the rent. It is paid to the Royal Household out of the Privy Purse.
King Charles uses his income from his private Duchy of Lancaster.
The two sisters have allegedly been funded by their uncle King Charles (Credit: SplashNews.com)
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