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"This is a big statement by Perrie and Zayn. They've had to shoot down rumours of a split after his exit from the band and this is both of them showing everyone just how serious they are," a source told The Sun newspaper.
"They're engaged and need somewhere they can both call home - and this house is it."
The luxurious property is split into two wings and also features a three-bedroom guest cottage, reports mirror.co.uk.
The source added: "It's got everything they need and gives them a safe haven to base themselves when they're both in London and Perrie isn't away on tour.
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"Zayn has a bit more time on his hands than he used to, so this is a good place to be for him to hang out with mates or just spend some time alone."
A representative for Malik declined to comment.
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