A statement has been issued by the palace and the Queen.

Meghan Markle and Prince Harry are to lose their HRH titles and repay the funds used to refurbish Frogmore Cottage, Buckingham Palace has confirmed. Buckingham Palace released a statement confirming the details of the agreement between the royal family and the couple, a little more than a week after they revealed they wanted to step back as senior members of the royal family. "The Duke and Duchess of Sussex are grateful to Her Majesty and the Royal Family for their ongoing support as they embark on the next chapter of their lives," the Buckingham Palace statement began. "As agreed in this new arrangement, they understand that they are required to step back from Royal duties, including official military appointments. They will no longer receive public funds for Royal duties." As per the statement, the Sussexes will continue "to maintain their private patronages and associations" with the blessing from the Queen. "While they can no longer formally represent The Queen, the Sussexes have made clear that everything they do will continue to uphold the values of Her Majesty," the statement continues. "The Sussexes will not use their HRH titles as they are no longer working members of the Royal Family." Meghan and Prince Harry are also said to have said they wish to repay the Sovereign Grant expenditure for the refurbishment of Frogmore Cottage, which will continue to remain their family home in the UK. "Buckingham Palace does not comment on the details of security arrangements," the statement said. "There are well established independent processes to determine the need for publicly-funded security." The new model will take effect in Spring 2020. The Queen also issued a statement, where she thanked the couple for "their dedicated work across the country, the Commonwealth and beyond," adding that she was "particularly proud of how Meghan has so quickly become one of the family." "Harry, Meghan and Archie will always be much loved members of my family," she added. The full statement from The Queen can be found below:

Following many months of conversations and more recent discussions, I am pleased that together we have found a constructive and supportive way forward for my grandson and his family. Harry, Meghan and Archie will always be much loved members of my family. I recognise the challenges they have experienced as a result of intense scrutiny over the last two years and support their wish for a more independent life. I want to thank them for all their dedicated work across this country, the Commonwealth and beyond, and am particularly proud of how Meghan has so quickly become one of the family.  It is my whole family’s hope that today’s agreement allows them to start building a happy and peaceful new life.