David and Victoria Beckham are reportedly set to splash out on a love-nest for their son Brooklyn Beckham and his fiancee Nicola Peltz.

The power couple's eldest child, who is 21, and New Yorker Nicola, 25, announced this week that they are engaged.

And, according to a source, the retired soccer ace and his fashion designer wife - who also have Romeo, 17, Cruz, 15, and nine-year-old daughter Harper - are planning on buying a pad in London as wedding gift for lovebirds for when they come and visit.

The insider told The Sun newspaper: ''Although they'll spend a lot of time in America, Brooklyn wants a base in London.

''Victoria and David have offered to buy the house which will be seen as a wedding gift.

''It's incredibly generous but they are like any other proud parents who want to help as much as they can. Brooklyn is eyeing up properties in East London but nothing is off limits.''

Brooklyn is marrying into even more wealth, with Nicola's father Nelson estimated to be worth a whopping £1.3 billion ($1.6 billion), whilst David, 45, and Victoria, 46, have a combined fortune of £370 million ($463 million).

Nicola's minted parent is reportedly set to be footing the bill for the couple's two no-expense-spared wedding ceremonies next year.

The loved-up pair - who started dating at the end of last year - will have one ceremony in the UK and the other in Florida.

A source claimed at the weekend: ''Everyone is delighted for them. Brooklyn has always looked up to his parents and grandparents, who have been married for a combined 70 years, and that's what he wants.

''David and Victoria are thrilled. They feel he has finally met a girl who is not after him for fame or money. In fact, her family wealth dwarfs the Beckhams'.

''Victoria no longer needs to solely pay for a bodyguard or driver for Brooklyn, for example, because Nicola's dad Nelson is able to help take care of the security and drivers who are needed to keep them safe.

''Nicola and Brooklyn's parents met earlier this year. David and Victoria flew to Florida and stayed with Nelson and his wife Claudia.

''They got on really well over dinner and are in regular contact. Traditionally, of course, the father of the bride pays for the wedding - but David and Victoria will definitely want to contribute in some way.

''It's too early to set a date, but they're aiming for the end of next summer or early autumn.''

David, 45, is set to to help organise a star-studded stag do for his son, while Victoria has been tipped to design at least one of Nicola's wedding dresses.