Boris Johnson is preparing to rent out his £1.2 million townhouse to raise cash following his second divorce and the refurbishment of his Downing Street flat, it is reported.

The Prime Minister has taken out a buy-to-let mortgage on the home in Camberwell, south London, that he bought with his fiancée Carrie Symonds, it is understood.

Property experts told the Times that Mr Johnson, 56, and Ms Symonds, 33, could let the house for up to £4,000 a month.

The couple, who have a one-year-old son, Wilfred, continue to face questions over how they paid for the reported £200,000 refurbishment of their flat at 11 Downing Street.

The Prime Minister - who is paid £157,372 a year and has other sources of income, including book royalties - has insisted he met the cost himself but has refused to say whether initial bills were paid by donors.

Boris Johnson and his fiancee Carrie Symonds
Boris Johnson and his fiancee Carrie Symonds bought the property in July 2019

The Electoral Commission has launched an inquiry into whether any loans or donations made in connection with the refurbishment work had been properly declared.

The Prime Minister’s new adviser on ministerial standards, Lord Geidt, and Cabinet Secretary Simon Case are also looking into the matter.

Mr Johnson and Ms Symonds purchased their home in Camberwell in July 2019 with a mortgage from Santander.

It was remortgaged with Clydesdale Bank in August last year, according to Land Registry documents seen by the Times.

The Prime Minister recently put his £1.2 million house near Thame in Oxfordshire up for rent.

A general view of Boris Johnson's home in Camberwell
Mr Johnson and Ms Symonds could let the Camberwell home for up to £4,000 a month, say experts

The four-bedroom detached house boasts a tennis court and a swimming pool.

It was listed at £4,250 a month in April, and a lease was agreed this week, it was reported.

Mr Johnson bought the property for £640,000 in 2003, but his former wife Marina Wheeler is entitled to a share of the property as part of their divorce settlement.

The Times reported that the property does not appear on the PM's register of interests.

MPs are required to register any property that "has a value of more than £100,000 and/or any property that provides rental income of more than £10,000 in a calendar year", according to parliamentary rules.

The standards commissioner has reportedly vowed to review the arrangement after learning of the change to the the mortgage, though Mr Johnson is understood to have told the commissioner about the Oxfordshire property, the report added.

A Downing Street spokesman told the Times: "Mr Johnson has complied with all requirements of the House of Commons code of conduct, and updates his entry on the register when necessary."

There were claims that Mr Johnson was short of cash following his second divorce and the refurbishment of the Downing Street flat.

It is claimed Mr Johnson complained to aides that Ms Symonds was buying at £840 a roll from interior designer Lulu Lytle.

Mr Johnson said "I covered the costs" in a reply to Labour Leader Sir Keir Starmer during Prime Minister's Questions last month.

But he has dodged questions about who originally paid out when the work at No11 was completed in 2020.

When asked about the refurbishment reports, the Prime Minister told reporters last month: “The one thing I object to in this whole farrago of nonsense is I love John Lewis.

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“But what I will say is what people want this Government to do is focus on their priorities.”

Ms Symonds reportedly saw the lavish overhaul as necessary to rid the Prime Minister’s residence of the “John Lewis nightmare” left behind by Mrs May, according to Tatler.

The taxpayer funds a £30,000 annual allowance but the redecoration has stretched beyond that.

Some reports suggest the upgrades hit the £200,000 mark while a leaked email suggested Tory peer Lord Brownlow was making a £58,000 donation to the Conservatives “to cover the payments the party has already made on behalf of the soon-to-be-formed ‘Downing Street Trust’”.

Last month, Mr Johnson said he did not believe “there is anything to see here” when asked about the Electoral Commission’s investigation, telling reporters: “What we are doing is focusing on the stuff that really matters.”

Labour called for Mr Johnson to come clean about his dealings with Tory donors after Downing Street refused to say whether he had asked for help with childcare costs.

Earlier this week, the Prime Minister’s official spokesman said Mr Johnson had covered all the costs for childcare for his one-year-old son Wilfred himself.

The spokesman refused to be drawn on whether the Prime Minister had previously approached supporters to pay for a nanny.

The Sunday Times quoted one party backer as complaining that they had been asked for a donation, adding: “I don’t mind paying for leaflets but I resent being asked to pay to literally wipe the Prime Minister’s baby’s bottom.”

In response, Mr Johnson’s spokesman said: “The Prime Minister has covered the costs of all childcare.

“I have nothing more to add to that.

“I am not going to be getting into any more detail.”