Katie Price is allegedly set to finalise her divorce from ex-husband Kieran Hayler – two years after they first parted ways.

According to reports from The Sun, the mother-of-five is 'desperate' to get the divorce underway after she was declared bankrupt late last year.

Kieran,32, is said to have given up hope of ever retrieving money he claimed he was owed by his ex, who was declared bankrupt last November.

Instead, he has told solicitors he wants the separation officially sorted out as quickly as possible.

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Speaking about her plans to officially end her marriage to ex-husband Kieran, an insider revealed that Katie, 41, is ready to put the past behind her and finally move forward with her life.

"Katie is desperate to get the divorce sorted out…she has been for ages. But the whole thing was being held up because Kieran was holding out on hopefully getting some money he believed he was owed."

"However with Katie’s current financial problems he knows there is no chance that will happen so he has accepted it is simply better just to move on and get on with his life."

The source continued: "The divorce is also important to Michelle. She adores Kieran and a lot of their friends expect them to go on and get engaged this year."

The inside source also revealed that with Katie's new years resolutions for a brand new start in 2020, the mother-of-five feels the divorce is an important step for her future.

Mirror Online has contacted Katie's rep for a comment on the matter.

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This news comes after sources claimed Kieran is reportedly planning to take out a £10,000 loan so he can pay for a divorce and finally end their marriage, which is now in its seventh year.

Divorces can cost as little as £300 online but if solicitors are involved the price can be as much as £10,000.

Katie and Kieran both say they can't afford to pay that much so he has decided to borrow the money, The Sun reports.

Katie was declared bankrupt last month after spending her rumoured £45million fortune.

She married Kieran in 2013 and they share Jett, six, and five-year-old Bunny.

They split in May 2018 after she discovered he'd had sex with their nanny.

After their breakup she went on to date Kris Boyspm but they split up in December after she admitted cheating on him.

Kieran has moved on with girlfriend Michelle Pentecost after meeting at the school gates.

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