"Much like the wider property market itself, the royal property portfolio does vary quite drastically when it comes to estimated market values and the potential mortgage payments required"
- Stephanie Daley - Alexander Hall
Owning a royal residence may be little more than a fantasy for most, but new research has revealed just how steep the price of such prestige would be. According to mortgage adviser Alexander Hall, monthly mortgage repayments on Buckingham Palace would amount to nearly £19m, even after placing a 15% deposit of almost £600m.
As Royal Ascot gets underway, attracting crowds hoping to catch a glimpse of the Royal Family, the property market surrounding the event also commands a regal price. Homes in the SL5 postcode, which includes Royal Ascot, come with an average house price of £889,503. Based on a 15% deposit of £133,425, this would leave the typical homebuyer with monthly mortgage repayments of around £4,263.
But for those aspiring to live in a genuine royal estate, the monthly figures quickly scale into the millions.
Buckingham Palace, with an estimated market value of just under £4bn, tops the list. After a 15% deposit of £596m, the remaining balance would generate a monthly repayment of £19m.
Other royal properties, while less costly than Buckingham Palace, still require substantial funds:
Hampton Court Palace is valued at £1.038bn, with monthly repayments estimated at £4.9m after a £155.6m deposit.
St James’s Palace has a market value of £623.8m and would demand a monthly payment of £2.9m.
Windsor Castle, at £594m, comes with repayments of £2.8m a month.
Kensington Palace, worth £465.2m, would require £2.2m monthly.
Clarence House, at £68.4m, sees a much lower—yet still significant—£327,796 in monthly payments.
Balmoral is estimated at £62.4m, meaning £299,135 a month.
Sandringham closes the list with a market value of £55m, requiring £263,980 in repayments.
“We may have seen mortgage market affordability improve in recent months, but you’re still going to need extremely deep pockets if you want to keep up with your monthly payments on a royal residence," explained Stephanie Daley, director of partnerships at Alexander Hall, "Much like the wider property market itself, the royal property portfolio does vary quite drastically when it comes to estimated market values and the potential mortgage payments required, from £19m per month for Buckingham Palace to a comparatively palatable £264,000 per month for Sandringham.”
Daley added, “Whilst it’s highly unlikely that these royal properties will ever hit the open market, engaging a highly experienced mortgage adviser is the best way to ensure you secure the perfect mortgage product to suit your individual needs, even if you are a high-net-worth with your eyes on Buckingham Palace."
