My wife and I decided to buy a home and found one that we really liked. We hadn't sorted out our mortgage beforehand and we only realised that the process is really long to get the mortgage after we'd chosen the property we were interested in.
When I was explaining to my boss what had happened, he became very keen to help me put and asked the owner to hold onto the property till our mortgage come through. He even said he'll give 20,000 pounds deposit immediately but they refused. So cut story short, my boss bought the house for me with cash (he's a millionaire) and now we will be making monthly repayment to him as we would have had we obtained a mortgage from the bank.
I just wanted some advise on what to look out for in order to ensure that the property is ultimately mine in 25 years. The land registry needs to be n my name right? How do we do that?