Katie Price loses her £2million ‘Mucky Mansion’ after being declared bankrupt last month
KATIE Price has lost her £2 million “Mucky Mansion” just weeks after being declared bankrupt.
The former model, 41, once worth a reported £40 million, is facing homelessness after being forced to sign the 11-bed property over to a trustee.
Price was declared bankrupt in November after the High Court found she had failed to stick to a plan to repay her debts, estimated to be £800,000.
Land Registry documents seen by the Sunday People confirm that her Sussex home, purchased for £1.3 million in 2014, was made the subject of a bankruptcy charge on December 3.
The 12-acre site, whose value has now risen significantly, includes a swimming pool, tennis court, and horse stables.
Price took out a second mortgage on the property in 2015, but faced monthly payments of £12,300, and is now thought to be £100,000 in arrears.
A source told the Sunday People: “Katie faces being made homeless any day if the property is sold now that the bankruptcy charge has been applied.”
Price is currently said to be living between the homes of personal trainer boyfriend Kris Boyson and other friends and family.
LUXURIOUS LIFESTYLE
Despite her money woes, Price is reported to have continued to live a luxurious lifestyle, enjoying holidays, cosmetic surgery, and renovations to her home, once dubbed the “Mucky Mansion” after pictures showed much of it in a state of disrepair.
She is also reported to have thrown a party at the house the weekend before she was declared bankrupt while filming her reality series My Crazy Life.
The previous week, her pink Range Rover was spotted on sale at a used car dealership in Essex with a sign reading “repo” – short for repossession – on its windscreen.
Speaking on a 2018 episode of her show, Price said: “I will be out of bankruptcy in a year. It’s not that bad.
“I’ve got nothing to be ashamed of. Loads of people go through it like me.
“It’s just a matter of going through the motions. This is what has to be.”
MOST READ IN NEWS
Price rose to fame in the mid-1990s as a model on The Sun’s Page Three, and later featured as a contestant on the third series of reality series I’m A Celebrity… Get Me Out of Here!
She is a mum to Harvey, 17, by former Man U player Dwight Yorke; Junior, 14, and Princess, 12, by singer and ex-husband Peter Andre; and Jett, 6, and Bunny, 5, by construction worker and ex-husband Kieran Hayler.
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