The 'Brokeback Mountain' actor - who is currently promoting his new movie 'Love And Other Drugs' in the British capital - flew the country music star in by private jet on Friday night (12.11.10), and the pair were said to be holed up in London's exclusive Dorchester Hotel until yesterday (14.11.10) morning.
Taylor - who has dated 'Twilight' actor Taylor Lautner and Disney star Joe Jonas in the past - was due to be in the city to perform at the Radio 1 Teen Awards yesterday, but jetted in early to see Jake.
An insider told The Sun newspaper: "Jake wanted some quality time with Taylor. If he hadn't done this, they would have missed each other as he had to fly back to the US. He hired a jet which would have easily set him back £100,000."
Rumours about the new couple have been circulating since they were spotted holding hands and looking loved-up while on a romantic walk around Brooklyn, New York, last month.
A source said at the time: "Taylor and Jake were walking around Park Slope holding hands. They looked like a couple!"