I don't know nothing about anything but it sounds dodgy as f**k to me!
If you had the cash, you could gift it to your parents and let them buy it, but since the discount will only apply to them, there's no way you'll be able to buy it yourself. I doubt you'd get a mortgage on the house since the house would have to belong to your parents for the discount to work, which means you'd have nothing to secure against the mortgage, unless you already own a property and remortgage it?