Exclusive | Prince Harry and Meghan Markle likely to list Montecito mansion as staggering monthly costs revealed: sources

Prince Harry and Meghan Markle say they’re keeping their Montecito mansion as they relocate the family back to Britain, but a source in the Santa Barbara luxury real estate market told The Post there “have been rumblings” the couple will sell the property, adding that “every broker wants that listing.” This comes as The Post can reveal that the property costs the former Royal couple a staggering $600,000-plus a year in mortgage payments and tax alone — a potential motivating factor for a sale.Jason Streatfeild, a Douglas Elliman broker who represents the Santa Barbara and Montecito area separately told The Post deals of this size don’t always show up on the open market right away, either.“Many times properties like this will trade off market with an NDA signed and all of the terms sealed until the property records at the county,” Streatfeild said.“It’s very possible that they would be listing it, but I have a strong feeling that it’s already being discussed and shown,” Streatfeild speculated to The Post.The Duke and Duchess of Sussex are moving to the UK this month with Prince Archie, 7, and Princess Lilibet, 5, ending a six-year run in California that began when they stepped back from royal duties in 2020. The children are set to start school in Britain in September, and the couple plans to set up a new, private residence there, its location being kept under wraps. King Charles was informed of the move over the weekend.Harry and Meghan have said they intend to hold onto both the Montecito estate and their vacation property in Portugal rather than sell either, but the numbers on the California house make that pledge look shaky.Santa Barbara County records show the Sussexes’ company, Rockbridge LLC, bought the 7.38-acre estate for $14.65 million on June 9, 2020.

Three days later, the company took out a $9.52 million loan from City National Bank.It’s an adjustable-rate mortgage, starting at 2.49 percent and capable of climbing as hig...