Prince William is "set to stop Princess Beatrice and Princess Eugenie" living rent-free in royal palaces in a major shake-up when he becomes King. The 43-year-old will make reviewing the official use of all royal residences and the living arrangements of members of his family a priority during his reign.

Sources close to William have told The Sunday Times that he wants to ensure it is "fit for purpose in the modern era" and will "look under the hood" of the institution.

William - who was recently open about his own lease at Forest Lodge- is said to be "mindful of how much the monarchy costs" and the size of the organisation, and will be "hands on" whilst assessing the "footprint of the institution".

During an interview with Canadian actor Eugene Levy last year, William opened up about the future, telling him: "Change is on my agenda".

With the King still on the throne, it is understood that Charles will continue to review the living and rental arrangements of his relatives at royal residences.

Following the recent news about Andrew and his daughters, Baroness Hodge of Barking, the former chair of parliament’s public accounts committee, told Times Radio: “I cannot for the life of me understand why any members of the Royal Family were able to charge rent [and] make money out of properties that they got on lease.”

The rent on Beatrice and Eugenie's royal homes has risen since King Charles' reign in comparison to when the late Queen Elizabeth II was on the throne.

Respective of the current market value, Beatrice has increased from 60 percent to 68. Eugenie has increased from 50 to 64 percent.