Kate Moss and Pete Doherty are reportedly looking to buy a house together in London and have applied for a £5million mortgage together.

The couple are currently based in Kate’s home in St John’s Wood in the city or at her cottage in the Cotswolds but a source has told the Sunday Mirror that they’re looking for a new place together in Regent’s Park or Primrose Hill.

The source, a friend of the couple’s, said that the decision to buy together is a sure sign that Kate is in it for the longhaul with Pete: “Everyone is amazed that they’re looking for a joint mortgage. It’s rather romantic.”

“But Kate’s more conservative mates have been saying it’s madness, given Pete’s reputation as a wildman. He is not the first person you think of when it comes to financial stability. But they are both giddy about it and see it as a pledge of their love.”

“[He’s] is an idealist - he used to think that the idea of owning a home was right wing. But now he sees it as a lovely chance to settle down and pledge himself to Kate.”

The friend added that Pete is becoming more financially solvent too: “Pete never even used to have a bank account, but that has all changed. He got a huge advance for his new record deal with Parlophone. And the band have just announced a full arena tour at the end of the year.”

“Pete has also signed a lucrative endorsement with clothing line Gio Goi. He should have about two million in the bank by the end of the year.”