The Duke of York has reportedly found a new way to fund life at Royal Lodge after the King has axed his security team and allowances.

Prince Andrew reportedly has a new plan up his sleeve to ensure he can stay in his Windsor home, despite efforts by King Charles to try and encourage him to downsize.

The duke, 64, has been encouraged to leave Royal Lodge over the last few months and downsize to a smaller royal residence such as Frogmore Cottage.

Despite efforts by the King, 75, to prompt him to leave the 30-bed mansion, including by axing Andrew’s £1 million allowance and his security team, the disgraced duke does not appear to be budging any time soon.

According to an updated version of the book Charles III: New King. New Court. The Inside Story, which is being serialised in the Daily Mail, author Robert Hardman said that Andrew has brazenly found other sources of income to fund life in Royal Lodge and the improvements that are needed to it.

This includes sorting out the mould issue within the home, with part of the lease agreement being that the residence will be kept in good condition throughout.

The prince has reportedly found a new way to fund life at Royal Lodge (Image: Mark Cuthbert/UK Press via Getty Images)

A source told the author: “He claims to have found other sources of income related to his contacts in international trade, sufficient to cover all his costs – which would be a welcome outcome for all parties if that turns out to be the case. But as to whether this funding can be relied upon in the long term is another matter.’”

Prince Andrew has lived at the £30 million home since 2004 and now shares it with his ex wife Sarah Ferguson.

He signed a 75-year lease on the property in 2003, in the hopes that it will eventually be inherited by his two daughters Princess Eugenie, 34, and Princess Beatrice, 36.

According to a royal expert, it is also believed that Andrew does not want to leave the home as then he will feel as though he has lost everything.

King Charles wants Andrew to downsize (Image: Max Mumby/Indigo/Getty Images)

Expert Rupert Bell told Times Radio: “One of the problems that Prince Andrew has is that he is occasionally convinced of his rightness, and he gets himself into hot water with his stubbornness and sometimes his own arrogance has caused him to create these problems.

“He feels like he lost everything and if he loses his house, well then he probably feels that even more has been taken away from him.

“It’s an interesting dynamic between these two but King is trying in a way to force his hand but if Andrew says I can afford to live here, then there’s not much the King can do.”