They are the couple that all of Hollywood is talking about: the Spanish beauty who has been described as the Latin Julia Roberts, and the man who is the darling of America. Penelope Cruz and Tom Cruise are dating - and that’s official, as both their publicists have now confirmed.

But even more remarkable, Penelope is apparently now living in a £33,000 per month Hollywood mansion that Tom rented following his separation from wife Nicole Kidman. Tom has loaned the house to the 27-year-old actress while she is in Hollywood to promote the August opening of her movie Captain Corelli’s Mandolin.

Penelope, who doesn't have a home in Los Angeles, prefers not to stay in a hotel, where she would be more accessible to the international press who are fascinated by her every move - especially now that she is involved with the Mission Impossible star.

The actress has paid a high price for being one of the world’s most beautiful women - she is constantly linked to her leading men, including her Captain Corelli co-star Nicolas Cage. And Nicole Kidman apparently told friends that she questioned Tom about his closeness to Penelope after seeing pictures of them strolling together off the set of their film Vanilla Sky earlier this year.

For more on Penelope Cruz and Tom Cruise, Hollywood's most talked-about couple, see this week’s HELLO!, on sale now.