Katie Price ‘faces losing mucky mansion as she is due back in court’
Katie Price ‘faces losing £2million mucky mansion as she is due back in court over £12,000 a month bankruptcy repayments’
Katie Price could reportedly face losing her £2million Sussex home as she is due back in court over bankruptcy repayments.
The television personality, 41, will appear at a specialist insolvency and companies court in Central London on October 14 and will find out if she will get to keep her “mucky mansion”, The Sun reports.
Katie, who is said to have already moved her new boyfriend Charles Drury into the family home, avoided bankruptcy last year after coming to an agreement over a £22,000 tax bill.
Spiraling debts: Katie Price could reportedly face losing her £2million Sussex home as she is due back in court over bankruptcy repayments
The former glamour model is said to have whittled away her £45million fortune and amassed debts estimated to be between £250,000 to £500,000.
Now, the publication reports Katie could face losing her nine bedroom country mansion due to a bankruptcy petition which calls for her assets to be taken and sold to pay her debts.
Her £2million mansion, a former home of politician Francis Maude, boasts nine bedrooms, a two bedroom annexe, 12 acres of land, a pool, tennis court and stables.
Court: The television personality, 41, will appear at a specialist insolvency and companies court in Central London on October 14 and will find out if she will get to keep her home
Renovations: Katie’s new boyfriend Charles Drury is said to be helping her fix up her mucky mansion after it fell into a state of disrepair
She bought it for £1.35million in October 2014, but it has since fallen into a state of disrepair, with the grounds strewn with rubbish and the pool full of dirty water.
But despite the prospect of losing her home, Katie has already started huge renovations of her house and is said to have enlisted the help of her hunky new builder boyfriend to fix it up.
Back in December, Katie was accepted for a Individual Voluntary Arrangement, which is a formal agreement that allows people to pay back creditors at an affordable rate, with the bankruptcy petition placed on the house.
Money: Katie, who is said to have already moved her new boyfriend Charles nto the family home, avoided bankruptcy last year after coming to an agreement over a £22,000 tax bill
For the IVA, Katie is said to have to pay back £12,000 a month over the next four years.
Katie’s representatives declined to comment when contacted by MailOnline.
The mother of five’s once-lucrative business empire began falling apart after her third marriage to Kieran Hayler failed and her businesses collapsed.
Katie lives in the mansion with her five children – Jett, five and Bunny four, whose father is her ex husband Kieran , son Junior, 14, and daughter Princess from her marriage to Peter Andre and Harvey, 17, whose father is Dwight Yorke.
The television personality, who split with her fiancé Kris Boyson to pursue a romance with Charles, was reportedly introduced to Charles by a builder who is working on Katie’s mansion and encouraged her to follow Charles on social media.
‘He encouraged Kate to follow him and they started exchanging messages. He’s younger than Kris and they have good banter,’ a source said.
Charles is based in Chesterfield, and he and Katie have been accused of previously meeting up at a hotel in the Cotswolds recently after his good looks caught her eye on social media.
A source told The Sun that Katie had been lining up Charles to ‘take over’ from Kris for a while, saying: ‘Katie started following Charles on Instagram and thought he was really hot.
Exes: Katie turbulent love live saw her dump her fiancé Kris Boyson to pursue a romance with Charles (pictured July)
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