Can we put up the money for our son to buy a house at auction in his name?

theguardian.com:

Q Just wondering if you can help settle a matter regarding helping our son to buy a house. He is 26 years old, currently renting and looking to buy a house using savings, a lifetime Isa (Lisa) and some help from us.

We have seen a house that is going to be sold at auction. The guide price is £130,000 but we expect it to go for more. It will need extensive work, which we estimate will cost in the region of £30,000 to £40,000. Once renovated, we think it will be worth £250,000.

Our problem is that if this is bought at auction, the price will need to be paid within 20 days. As long as we manage to secure the property for £150,000, we have the cash to pay the auctioneer. Can we put up the cash for our son to buy the house and he buys it in his name? How easy will it be for him to then raise a mortgage on a property that he technically owns outright? Would there be any tax implications for either us or him? Can you see any potential pitfalls? We trust him, so the fact that we are handing over a large part of our savings isn’t an issue, but we will need access to this money at a future date. YP

A Yes, you can lend your son £150,000 and, as long as you don’t charge him interest, there are no tax implications I can think of but it might be an idea to put in writing that it is a short-term loan. That will make it clear that your financial help is not a gift and so not at risk of having inheritance tax charged if you die within seven years of handing the money over.

And yes, your son can buy it in his own name, provided that his name is on the contracts that are exchanged on the fall of the gavel and which are legally binding, which explains why you only get 20 days to pay the auctioneer.

As to how easy it will be for your son to get a