Prince Andrew, who has been trying to sell his ski chalet in Switzerland to raise money for his legal fees, has finally found a buyer for the property.

The Duke of York previously wasn't able to sell the property in Verbier, named Chalet Helora, as he still hadn't paid off the entire amount to its previous owner Isabella de Rouvre. Andrew, along with his ex-wife Sarah Ferguson, had bought the property from the French socialite in 2014 for £18 million while making an agreement that the amount would be paid for in installments.

However, Rouvre launched a legal battle against the couple in a Swiss court two years ago claiming that they haven't made their final installment of £5 million. The 74-year-old had demanded the payment she was owed, plus interest, which came to a combined £6.6 million.

As per Swiss law, Andrew could not sell the chalet until his legal issue with Rouvre was resolved. Rouvre has now said that the British royal has cleared the payment and is free to sell the property to someone else.

She said, "The war is finished. It is the end of the matter. I have nothing to do with it now. That's all." She noted that she heard in the news that the royals were at the chalet at Christmas but she did not see them.

She added, "So Happy Christmas and that's that. The end. It was about six weeks ago that the matter was closed. It was November. It's done. They paid the money and it was done. It is closed for me. The war is over." A friend of the socialite revealed that it had been a "hugely stressful" time for her.

Sources close to Prince Andrew confirmed that after the whole legal issue, the sale of the property is finally "proceeding" after the royal found a mystery buyer who agreed to take it off his hands in a deal worth an estimated £18 million.

"I can confirm that the legal action has been halted and that the chalet is being sold - but otherwise no comment on private financial matters. There is no completion date for the sale but property experts in Verbier claimed that it could be 'just a matter of weeks,'" an insider claimed.

Meanwhile, the settlement has raised questions about how Andrew was able to make the payment, as he leads a rather lavish lifestyle with his earnings of £270,000 per year. This amount includes a £249,000-a-year annual stipend that he receives from his mother, Queen Elizabeth II, in addition to the pension he receives for his work in the Royal Navy.

Some speculate that he may have received the money from the future buyer in case they agreed to give him £6.6 million as an advance to help him settle the debt.

Prince Andrew
Britain's Prince Andrew (pictured January 2020). Photo: AFP / Lindsey Parnaby