Prince Harry and Meghan Markle will be repaying the millions spent on their Frogmore Cottage renovation

Here’s everything you need to know…

Prince Harry and Meghan Markle made news this month as they announced that they were planning on stepping down from their roles as ‘senior’ members of the royal family, hoping to become financially independent.

It was then announced yesterday by Buckingham Palace that the Duke and Duchess of Sussex will be losing their HRH titles following a new deal. The real news that got everyone talking however was the announcement that the couple want to ‘repay Sovereign Grant expenditure for the refurbishment of Frogmore Cottage’.

Releasing an official statement, Buckingham Palace announced: ‘The Duke and Duchess of Sussex are grateful to Her Majesty and the Royal Family for their ongoing support as they embark on the next chapter of their lives.

‘As agreed in this new arrangement, they understand that they are required to step back from Royal duties, including official military appointments.’

The statement continued: ‘They will no longer receive public funds for Royal duties. With The Queen’s blessing, the Sussexes will continue to maintain their private patronages and associations. While they can no longer formally represent The Queen, the Sussexes have made clear that everything they do will continue to uphold the values of Her Majesty.

‘The Sussexes will not use their HRH titles as they are no longer working members of the Royal Family. The Duke and Duchess of Sussex have shared their wish to repay Sovereign Grant expenditure for the refurbishment of Frogmore Cottage, which will remain their UK family home. Buckingham Palace does not comment on the details of security arrangements.

The statement concluded: ‘There are well established independent processes to determine the need for publicly funded security. This new model will take effect in the Spring of 2020.’

Prince Harry and Meghan Markle are yet to comment.