TOWIE star Lucy Mecklenburgh and Mario Falcone have confirmed the reports they are engaged, after Lucy was seen wearing a dazzling £25,000 engagement ring on her finger.The couple were pictured on the balcony at their home in Essex where Lucy gave us a glimpse of the diamond engagement ring she said yes to. The engagement ring looks to feature a large princess cut diamond over 2 carats set in white gold with diamonds set on the shoulders of the gold band. Lucy’s engagement ring is also reported to cost £25,000. Mario, 24 proposed to Lucy 20, whilst the pair were holidaying and filming the final episode of The Only Way is Essex in Marbella. Mario apparently popped the question to Lucy during a moonlight boat ride. The pair have kept their engagement news quiet and ignored the rumours, as the proposal is set to be the big finale for the TOWIE’s summer special last episode this Wednesday.