A Bradford couple has vowed to survive the recession by GIVING AWAY their £425,000 house for free.

Entrepreneurs Michelle and Paul Wood, both 50, have devised a bizarre plan to clear their business debts by running a competition with a top prize of their detached home, Oakwood in Chapel Lane, Allerton, Bradford.

They decided on the unusual move when their debts started to spiral after a previous luxury chocolate company they started in 2004 ran into trouble.

But they are now looking forward to starting the new venture from next month.

Michelle and Paul reckon they can raise between £850,000 and £1million by generating advertising revenue on the competition website – winahouseforfree.com – which will mean them being able to give away their home.

Mother-of-one Mrs Wood said: “The last few years have been like walking up hill, backwards in concrete boots.

“But we have never stopped, not had a day off and have worked through the night some nights on this project and we think it will work.”

The couple, who have been married for 25 years, thought of the idea after hearing about a woman running a raffle for her home in the North West.

They have now set up their own competition under a different format.

Competition entrants will get the chance of winning the stone-built two-bedroom property, which stands in 18,000sq ft of land, by answering daily questions correctly.

The competition will run for 12 weeks from November 2 and people will get the chance to enter up to 20 times a day by clicking on sponsors’ links on the website.

The couple said they had made sure that all pitfalls had been avoided and ensured the house raffle was legal by asking competition questions which require the competitors to exercise, skill, judgement or knowledge and do not – as it does in a lottery – rely wholly on chance.

They have contacted the Gambling Commission and taken legal advice, said Mrs Wood, who hopes to move nearer to her daughter in Newcastle at the end of the competition.

She said she and Paul had enjoyed living in the house but added: “We have lived in the house since 1998 and it is a lovely house.

“Over the years, we have done it up ourselves. It has taken a long time, a lot of hard work, a lot of swearing, tears and even bloodshed, literally, from sanding the floors, but it looks really lovely and will be a great prize for someone.”

e-mail: marc.meneaud @telegraphandargus.co.uk.