A debt ridden couple are planning to give away their house for free as part of a competition in order to offset their business loan debts.

The luxury West Yorkshire house, which has been their home for 11 years, is being used as first prize in a free competition that they hope will raise substantial advertising revenue.

Michelle and Paul Wood came up with the idea of the competition after problems with their luxury chocolate company meant that their debts kept mounting up.

Further problems arose as when applying for a business loan, Mrs. Wood was informed that she had a county court judgement (CCJ) on her record as a result of a banking error at her credit card company who had taken action against her but had not notified her at all.

Participants in the free competition will get a chance to win the property and 1,800 square foot of land by answering a question correctly every day. Each week one person who has answered correctly will be randomly selected and put through to the grand prize draw to be held in January.

Participants can enter up to 20 times a day by clicking on sponsored advertisements leading to the website.

There is potential advertising space on the site for 200 advertisers each day. The couple are hoping that the revenue raised from the advertisers will raise their target of between £850,000 and £1 million which will enable them to settle their business debts and sell their two bedroom house.