Dragons' Den entrepreneur James Caan is fronting a scheme which offers interest-free loans to cover stamp duty and solicitors' fees to homebuyers.

Anyone buying a property advertised on Look4aProperty.com - a website part owned by Caan - will be offered a loan of up to £50,000 from a £1bn fund. The loans can be taken out over a two or three-year period and will need to be paid back in monthly instalments over this time.

"The housing market needs stimulation, it needs a kick-start, and we believe that offering interest-free loans is the sort of catalyst that is needed," said Caan.

To read an exclusive New Business interview with James Caan click here [0]