Katie Price insists she won't lose Mucky Mansion over her bankruptcy

Katie Price insists she won’t lose multimillion Mucky Mansion over her bankruptcy as she declares: ‘It’s mine – no one can ever take it’

Katie Price has denied reports that she could lose her Mucky Mansion due her huge amounts of debt.

The former glamour model, 45, once worth £45 million, was declared bankrupt in 2019 and now has £3.2 million worth of debt.

Last month it was reported that she may have to flog her sprawling Sussex home in order to get the cash she needs.

Katie reportedly paid £1.3million for the home nine years ago and now says it is worth £2.5 million.

She hit back at those who questioned her finances after her bankruptcy and insisted that she would not lose her mansion.

Insistent: Katie Price has denied reports that she could lose her Mucky Mansion due her huge amounts of debt

Difficulties: The former glamour model, 45, once worth £45 million, was declared bankrupt in 2019 and now has £3.2 million worth of debt

Speaking to The Guardian, she said: ‘People write about me as if I’ve not got a pot to p**s in. My £2.5m house is protected. It’s mine – no one can ever take it.’

Katie also said she wasn’t afraid of going to prison over her debts either, saying: ‘If I could go to jail to clear all this, I would, because it’s driving me nuts.’

She explained how she had lost her fortune, blaming the bankruptcy on her ex-husbands, Peter Andre, Alex Reid and Kieran Hayler, as well as her lawyers.

She explained: ‘The ex-husbands were on my case, all three of them. Then lawyers. They all wanted money. Money. Money. Money. Then obviously tax. 

‘When you’re having a breakdown and you’re suicidal, you shut the world off. You don’t talk to anyone, you don’t answer your phone, you don’t open your letters, and before you know it you’ll have a bailiff at your door. 

‘Then the work stops because your head’s not there to do it. It’s all noise in your head. Bills coming in, bills coming in, you hear your husband’s cheating on you, and it all just magnifies.’

Katie has previously insisted that her multimillion home could not be taken from her, during an appearance on The Jeremy Vine Show in March.

She said: ‘My house is safe. They always say oh her house is going to be [taken away] but it’s nothing to do with my house. They could never take it away, it’s completely safe.’

Needs must: Last month it was reported that she may have to flog her sprawling Sussex home in order to get the cash she needs

However, it has been claimed that those handling her bankruptcy have the power to sell the Mucky Mansion to meet her debts if they see fit.

In most cases, if you own your home, your equity is automatically transferred to the Official Receiver dealing with your bankruptcy.

They have three years to decide whether to demand the property be sold, if they believe the equity is enough to clear a significant amount of the debt. 

Katie must present her case to court on how she intends to settle her debts, or else prove that the mansion is essential to her ability to work.

She shoots a lot of her OnlyFans content from the house and it was previously the basis of her Channel 4 show, which saw her attempt to makeover the property after it fell into a state of disrepair – but the third season is currently up in the air.

Katie has also revealed that she is thinking of renting out the house, as she fears the West Sussex property gives her ‘bad luck’ despite ploughing money into renovation.

She said on her Katie Price Podcast in August: ‘I’m still thinking of renting it, it’s just too big for me. I’m always up in Essex [where on-off fiancé Carl Wood lives] at the minute’.

‘[I want to] get something smaller. I don’t know. I just think this house gives me bad luck’.

Hot property: Katie reportedly paid £1.3million for the home nine years ago and now says it is worth £2.5 million

Have her say: Katie must present her case to court on how she intends to settle her debts, or else prove that the mansion is essential to her ability to work 

She added: ‘It’s such a good family home but it is too big for me. It’s more of an excuse for the kids to make a mess.’

The Sun previously claimed that Katie cannot sell the mansion herself without permission from the courts, according to Land Registry documents linked to the address.

The home has a string of restrictions in place relating to cash she borrowed to fund it and subsequent money leveraged against the value of the house.

One recent document stated: ‘BANKRUPTCY RESTRICTION entered under section 86(4) of the Land Registration Act 2002, as the title of the proprietor of the registered estate appears to be affected by a bankruptcy order made by the High Court of Justice (Court Reference Number 1040 of 2019) against Katie Price also known as Katrina Amy Alexandra Alexis Price (Land Charges Reference Number WO 46637/19).

‘No disposition of the registered estate is to be registered until the trustee in bankruptcy of the property of the bankrupt is registered as proprietor of the registered estate.’

This summer Katie hit back at internet trolls who questioned her over her bankruptcy, insisting she still ‘owns her £2.5million house’. 

Speaking on TikTok Live, she answered questions from her followers, urging internet bullies ‘not to knock anyone’. 

‘I’m bankrupt, yes, but I still own my 2.5million pound house and I’m sat here in the kitchen doing my TikTok to you,’ she said. 

‘Never knock someone who is bankrupt, we all can go there but it doesn’t mean that it is all bad.’ 

Katie continued: ‘Yeah, my company went bankrupt and you deal with it don’t you. So, don’t ever knock anyone because it could happen to you.’

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