Prince Harry and Meghan Markle
Prince Harry and Meghan Markle lease a home in Cotswolds as they renovate Nottingham Cottage in Kensington Palace. Pictured: Prince Harry and Markle walk down the steps of St George's Chapel after their wedding in St George's Chapel at Windsor Castle on May 19, 2018 in Windsor, England. Getty Images/Ben Birchall

Prince Harry and Meghan Markle have a new home.

The Duke and Duchess of Sussex are occupying the Nottingham Cottage at Kensington Palace. But they will be staying in another new house as the newlyweds just signed a two-year leased for a home in the Great Tew Estate in Cotswolds, according to an insider.

"Meghan loves the Cotswolds and fell in love with the estate the first time she went," the source told Us Weekly. "They recently had security cameras installed around the perimeter."

Prince Harry and Markle are expected to spend their weekends at the property as they wait for the renovations of the centuries-old Nottingham Cottage. The insider added that Queen Elizabeth II will "most likely give them a house as a wedding present as she did with William and Kate … but whichever one they get will need an update."

There are speculations that the Queen will give Prince Harry and Markle their own stately home as a present after their royal wedding. Her Majesty gifted Prince William and Kate Middleton Anmer Hall after their nuptials.

Many believe that Queen Elizabeth II will give the York Cottage to Prince Harry and Markle. The property is located at the Queen's private Sandringham estate in Norfolk. It's in close proximity to the Duke and Duchess of Cambridge's Anmer Hall home.

In related news, prior to signing a lease for a new home in Cotswolds, Prince Harry and Markle were spotted visiting the place in October. It was reported that at that time, the pair was house-hunting and was looking for high-end properties.

"He is searching for a new home in the area," one of Prince Harry's friends said. "Before Meghan, he was vaguely looking in Norfolk but didn't find what he wanted. Now, with her input, he's renewed his search."

Prince Harry spent the majority of his life in Cotswolds and often returns in the lush green countryside with his father, Prince Charles. The Prince and Princess of Wales had a 150-acre property in Highgrove where they used to spend their weekends. Thus, there is no question about the prince's affinity for the area.

"It's not surprising that Harry would like to live where he feels at home," one local said. "He's lived in the Cotswolds all his life and often returns to visit his father. After his mother died, it became a place of sanctuary. When the boys entered their teens, Charles bought several homes in the area, thinking they might want one in the future."