Harry and Meghan’s home loan to buy oligarch’s Californian mansion
BY CHRISTOPHER BUCKTIN PRINCE Harry and Meghan are believed to have taken out a £7.27million mortgage to buy their nine-bedroom mansion from a Russian oligarch. The Duke and Duchess of Sussex will now need to find almost £50,000 a month over the next 30 years to cover the repayments, property taxes and insurance for the house in California. They managed to secure a mortgage – despite owing £2.4million for the renovation of Frogmore Cottage, their former home near Windsor Castle, which they agreed to repay at £18,000 a month. A source said: “All combined, Harry and Meghan need to find about £68,000 per month to meet their financial commitments. “It is a staggering amount. No wonder they want to get working.” The seller was a company tied to Russian investor Sergey Grishin, who used to own another home nearby known as the “Scarface mansion”, after it appeared in the 1983 Al Pacino film. Harry, 35, and Meghan, 39, had faced paying much more for the Santa Barbara home but knocked over £7.5million off the asking price to secure it for £11.1million with a £3.8million deposit. The house boasts a theatre, tennis court, rose garden and a two-bedroom, twobathroom guest house.
“It wouldn’t be a surprise if they were still there when their children go on to have kids.”
Paperwork for the house is registered to an address in Beverly Hills used by Meghan’s business manager.
The same address is used for the Duchess’s companies, including Frim Fram and MM Global. Sources say the couple left their temporary home on Vancouver Island in March to begin house hunting in earnest.
When they first arrived in Los Angeles, they lived in a £14million Beverly Hills mansion loaned to them by American actor and director Tyler Perry.
Their new home is a two-hour drive from downtown LA, and neighbours include their friends Oprah Winfrey and Ellen DeGeneres, as well as Tom Cruise, Jennifer Lopez, Steven Spielberg and Whoopi Goldberg.
Some have speculated Prince Charles helped fund the move but sources in the US say the couple have paid for it themselves. The Sussexes reportedly have a combined wealth of £23million.
A spokesman for the couple said: “The Duke and Duchess of Sussex moved into their family home in July.”
Tyler Perry house
Frogmore Cottage
It even has a stripper pole installed in its gym.
Pictures previously taken inside show a library, a spa with a separate dry and wet sauna and a wine cellar. Guests can be entertained in the games room complete with poker table, pinball machines, bar and pool table.
According to US reports, Meghan’s mother, Doria Ragland, who is helping to look after the couple’s one-year-old son Archie, has already been to the couple’s new home.
A source said: “Meghan has been desperate to find a home she and Harry can raise their family in.
“It’s no secret they would like a little brother or sister for Archie.
“They think they have found the perfect home in which they and their children can thrive.
SOURCE ON HARRY AND MEGHAN’S MANSION