By Victoria Ward.

Prince Andrew has not paid rent on Royal Lodge for more than two decades, it emerged on Monday night (Tuesday AEDT).

A copy of the leasehold agreement on his grace-and-favour Windsor mansion obtained by The Times shows he has paid "one peppercorn (if demanded)" in rent per year since 2003.

The revelation helps to explain how he and Sarah Ferguson , his ex-wife, have been able to afford to remain in the 30-room estate and will add to pressure on the Prince to give it up .

Prince Andrew was cut off financially by the King last year, leaving his £20,000-a-year ($41,000) naval pension as his only source of declared income.

The Prince was previously believed to have paid £1 million ($2 million) for the lease, and a "notional" £260,000 ($536,000) per

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