The Mysterious Girl singer shares Junior, 14, and Princess, 12 with the former glamour model

Peter Andre has reached out to his ex-wife Katie Price after she was declared bankrupt last week.

The Mysterious Girl singer shares children Junior, 14, and Princess, 12, with the former glamour model, and reportedly “feels sorry” for her, despite the fact there’s no love lost there.

Peter has also promised to make sure the kids are supported financially as “he wouldn’t want to see the mother of his kids suffer.”

A source told new! magazine: “Pete had a feeling this was going to happen, but he is far from happy about it. He feels sorry for Katie.

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“He has a soft heart and, despite their differences, he wouldn’t want to to see the mother of his kids suffer.”

Peter also apparently called Katie to tell her he “was sad to hear about the bankruptcy”, told her “not to worry about the kids” and that “he’s happy to look after Junior and Princess financially.”

After the seemingly civil chat, Katie even thanked him for getting in touch.

However, while Pete said he’d support the children financially, he’s not giving the money to Katie, as he is concerned about her spending the money on a new man or going off the rails and partying, according to the source.

MORE: Katie Price BLAMES Peter Andre for bankruptcy in bizarre ‘tipsy’ train rant

Katie and Pete met on I’m A Celebrity in 2004. They went on to marry and have Junior and Andre before divorcing in September 2009.

Katie was declared bankupt last week, having blown her £45million fortune on holidays, cosmetic procedures and boyfriends, and failing to pay off her agreed £12,000 montly repayments.

Her bank accounts have now been frozen and a trustee has been appointed to work out what assets they can sell to pay off her debts.

It comes after Katie is said to have addressed her money woes on a packed train during rush hour and blamed Pete for her bankruptcy.

According to The Sun, Pricey said: “Tomorrow, I’m being declared bankrupt. Even though I’m not bothered. ’ve known it’s coming, going bankrupt, because I took him [Peter] to court. He’s the worst person ever.”