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Offering to sell me his house and pay him back without interest!
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Personally I would be quite wary about this as it would put all sorts of pressures on your friendship and if you fell out it could get very nasty and you could end up homeless !
Could you get a normal bank mortgage on the property ? and if you had a free choice of properties would you buy this one ? Assuming that you did want this house then I would be tempted to buy it on a normal basis with a mortgage which would save you being beholden to him for the next 10 years.
Also I would get a full survey done, it would be hard on the friendship if you bought the house and found major issues with it that required alot of money to fix later on. (that's why I would never sell a car etc to a friend as if it broke down a few months later they could blame you even if you were unaware of any issues !).0
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