Best way to protect a personal loan used to buy a property

[sealives]

HI
My daughter and her fiancee wanted to buy a property, but due to his bad credit report, applying for a mortgage was never going to work. So, my wife and I decided to lend my daughter the money to but property outright. The plan is that in 2 years time, when his credit rating has been corrected, they will try and get a mortgage and pay us back.

My questions are :

1) I assume we should secure the loan on the property. Is it necessary to use a solicitor for this? Or, is filling in form CH1 and registering it with the LR all that is required?
2) Should the loan be in both there names, or just my daughters name? What are the reasons for joint?
3) When they apply for a mortgage, they will no longer have 'first time buyer status'. Is this an advantage, or a disadvantage?
4) Is it wise to get them to take out a cohabitation agreement? My concern is that I don't want him (or anyone else), staking a claim if they separate.

They have both takes out life insurance,

[SpringerSpaniel]

Re: Best way to protect a personal loan used to buy a property

You can make your loan a mortgage, simply a private mortgage rather than a commercial mortgage.

You should take professional legal advice to make sure your interests are properly protected. Not doing so is a false economy with the amount of money and seriousness of the issues involved.