IHT
Just a note regarging the IHT if a parent were to gift a child the property and still occupy the property then this is what is known as a gift with reservasion.
Your parents estate would still have to pay IHT on the property. The IHT payable would be based on the market value at death - not when the transfer took place.
One way to get around this would be for your parents to remorgage the property and gift you that money for your flight training. Your parents would have to be responsable for the morgage repayments.
If they survive seven years from the date of the gift then it will not be subject to IHT.