Katie Price 'selling Sussex mansion to pay off huge debts' ahead of third divorce

23 July 2018, 11:21 | Updated: 23 July 2018, 15:16

Katie Price asset

The mum-of-five is rumoured to have put her mansion on the market to ease her hefty debt as she prepares to divorce Kieran Hayler.

Katie Price is being forced to sell her home to pay off spiralling debts according to new reports. 

The mum-of-five, 40, purchased the nine bedroom property in 2014 for £1.3 million, and has filled it with a menagerie of animals from hedgehogs to horses. 

The Daily Star reports that it costs Katie almost £10,000 a month to maintain the enormous abode, with recent pictures revealing that she struggles to keep it tidy.

Read more: Katie Price fears for son Harvey, whose weight hits 22 stone

A source revealed: "Katie’s having to sell her home to recover money. It’s as simple as that.

"I don’t know how much change she’ll see from the sale of the property as there’s charges on it, plus tax owed."

The publication also reports that the mother-of-five is in debt to the taxman and various other creditors, due to some of her businesses failing to make a profit.

Some of Katie's side-ventures include writing novels, launching fragrances and designing an equestrian clothing collection.

Katie is currently divorcing third husband Kieran Hayler after five years of marriage. 

She has already moved on with 29-year-old personal trainer Kris Boyson, who she went public with in May. 

The source continued: "Even without all the business problems, the divorce from Kieran and the employment tribunal, the house documents are full of red flags.

The land register alone shows Katie’s property – that she’s re-mortgaged to put in her solicitors’ ownership – has been the subject of a bankruptcy notice."

But the source claims that Katie won't be too bothered at the prospect of downsizing, as long as she's got her kids with her.

They explained: "At the end of the day, Katie’s a down-to-earth girl.

“She could live in a cardboard box and still be happy if she had her kids there with her.”

Katie is mum to Harvey, 16, whose father is ex-footballer Dwight Yorke, Junior, 13, and Princess, 11, whom she shares with Peter Andre, and Jett, 4, and Bunny, 3, with estranged husband Kieran.

She recently confirmed that Junior and Princess had gone to live with their dad and his new wife Emily

WATCH! Katie Price confronts Kieran Hayler over cheating rumours: