The disgraced peer was arrested on suspicion of misconduct in public office on Monday, February 23, amid an ongoing Metropolitan Police investigation.
His home in the Pewsey Vale, near Wilcot, had been searched extensively by police prior to this arrest after further revelations about Mandelson’s links to paedophile financier Jeffrey Epstein during his time as business secretary.
The Telegraph has since reported that Mandelson could be forced to leave this home as he looks to “cut his outgoings.”
The publication understands that he is considering handing back the keys to the rented property and has not been seen there for weeks.
It is understood that Mandelson rents the farmhouse from Lord Rothschild, the multi-millionaire financier, and has done so since 2014.
Police at the home of Peter Mandelson in Wiltshire (Image: Ben Birchall)
He also owns a four-storey townhouse near Regent’s Park in London.
In January Mandelson was photographed at his Wiltshire home, which he shares with his husband Reinaldo Avila da Silva, for an interview with The Times.
Claims that he is leaving the property have been repeated in a recent Daily Mail column by Andrew Pierce, who said Mandelson would be “heartbroken” by the development.
He said: “Since being sacked as British ambassador in Washington in September, Lord Mandelson has rarely been seen at his farmhouse.
“But I hear the next time he will be at the property in Pewsey Vale, Wiltshire, it will be with his packing cases.
“It’s understood he’s leaving the home – owned by Nat Rothschild, a scion of the grandest banking family – this month.
“Now employing lawyers from three blue-chip law firms, it seems Mandelson can no longer afford the rent, believed to be around £4,000 a month.
“Mandelson, who loved escaping London for the country with his border collie Jock, will be heartbroken to leave.”
Mandelson was released on bail following his arrest in February.
In a statement issued just after 2am on Tuesday, February 24, a spokesperson for the Metropolitan Police said: “A 72-year-old man arrested on suspicion of misconduct in public office has been released on bail pending further investigation.
“He was arrested at an address in Camden on Monday, February 23, and was taken to a London police station for interview.
“This follows search warrants at two addresses in the Wiltshire and Camden areas.
“We are not able to provide further information at this stage to prevent prejudicing the integrity of the investigation.”