Take a registered General Power of Attorney, duly executed by your mother in your favour, with your father as the consenting witness, this should empower you to deal with the property exclusively and completely including the power to sell, transfer or convey the ownership in any person/s favour including in favour of your wife. This power of attorney must be entirely irrevocable.
Till the loan is cleared keep this document, once the loan is paid off, get the property duly registered in the name of your wife, you as the PA Holder for your mother can do this on her behalf.
In case your parents do not change even after the loan is cleared off, then get a Gift Deed executed from your mother and get a cancellation of GPA duly registered after the registration of the property in your name.