Princess Anne, 75, has lived at Gatcombe Park since 1977, when she moved in with her first husband, Captain Mark Phillips. The grand residence was once owned by Lord Butler of Saffron Walden until Queen Elizabeth II bought it for her daughter. While the 730-acre estate was an impressive gift, it did come with its drawbacks.
The Grade II-listed property, which boasts five main bedrooms, four secondary bedrooms, four reception rooms, a library and a billiard room, was in need of considerable TLC. In Channel 5's documentary, Gatcombe Park: A Royal Residence, it was revealed that Anne had to take out a mortgage with her husband to withdraw the funds for much-needed renovations.
Reports in the documentary claim there was a £40,000 bill for redecoration, plumbing, electrics and tackling issues like damp and woodworm. As well as these changes, the top floor of the property was dramatically reconfigured, moving the bathrooms from the front of the house to the back of the house. This way, the bedrooms could be at the front and benefit from the best natural light.
© GettyAs with all historic country homes, constant renovations are required to keep it in working order, and Anne funds this with the working farm on site. Speaking to Countryfile previously, Anne spoke about her life on the farm, revealing: "This is not something that comes free, this has got to pay its way, otherwise I can't stay here."
Her two children, Zara and Peter, also live on the grounds with their own separate accommodations. We've seen a fair few glimpses into Zara and Mike Tindall's impressive property, Aston Farm. The converted barn has a gym and cinema room, and the family also have access to the legendary 'party barn' that sits on the Gatcombe estate.
Royal mortgages
While it may sound unusual for a royal to take out a mortgage, it is something Anne's nephew Prince Harry also did when he bought a property stateside. In his memoir, Spare, Harry revealed how he afforded his Montecito mansion: "So we pulled together a down-payment, took out a mortgage and in July 2020 we moved in." Meghan told The Cut: "We did everything we could to get this house. Because you walk in and go… Joy. And exhale. And calm. It's healing. You feel free."
© InstagramAs well as a traditional mortgage from the bank, royals have the benefit of being able to lease properties from the Crown Estate or the Duchy of Cornwall. I've written extensively about royal rental agreements, including Prince Edward's special deal where he pays less rent. At present, Prince William and Princess Kate lease their residence, Forest Lodge, from the Crown Estate, paying market value to stay there.
