To be in with the chance of winning, people aged 18 and over need to turn up at ‘Studio B’, Clydesdale and Yorkshire Bank’s new flagship London store on Kensington High Street on Thursday 27 April.

They’ll have to undergo a general knowledge session before being tested on their cooking, gardening and DIY skills to bag the flat.

The flat giveaway will be hosted by TV property guru Amanda Lamb and broadcaster Rick Edwards.

The winner will also have their savings throughout the year matched up to a maximum of £2,000 a month, to go towards a deposit on their own home.

Clydesdale and Yorkshire Bank is staging the competition to highlight the financial challenges facing younger generations in buying their own property.

Helen Page, group innovation & marketing director, said: “Our research lays bare the huge challenge people starting out on their own face and this competition will give a lucky winner a huge helping hand, putting them on track to own their own home. This is the whole ethos of Studio B. It’s an open space where we can engage with the next generation of customers to design the next generation of banking.”

You can see the full T&Cs here, but here are the key points about the competition and the flat:

• It’s aimed at those who are looking to buy their first home, so you need to be renting or living at home.
• You need to be working. The savings that they will match at the end of the year will help fund a deposit for a house. Someone who is unemployed would not be able to take out a mortgage, so it would not help them in such a significant way.
• The bank branch is located at 146-158 Kensington High Street and the flat is five minutes away at Kensington Church Street
• You need to turn up between 7am and 10am and you need to bring proof of identity, address and employment.
• Successful entrants will find out on the day whether they’ve bagged the flat (they need to be contactable so have a mobile) and they must be able to move in on Saturday 27 May for 12 months.
• The penthouse flat is 470sq ft and it has one bedroom with a separate living room, kitchen and bathroom. There is no car parking space but the winner can apply for a parking permit.
• The prize gives you one year’s rent-free accommodation but all bills are on top and must be covered by the winner.
• The winner isn’t allowed to sub-let the flat.