Good Housekeeping Competition

Good Housekeeping magazine, Jan 2012 issue (out now) is offering a £25000 prize for a first novel, as an advance, and an introduction to an agent. Now, I know a whole group of people who are wrestling with or planning to write a novel. This competition has a number of major advantages for all of us. 

• It's deadline is 31st March so we have some time to polish or rewrite or, if you're very organised, even write a novel
• It's free to enter except for buying the magazine
• It's for any genre except children's
• It starts with a 5000-10000 word submission, allowing more time to complete the rest of the novel.

Now, what's not to love about such a big prize for so little outlay and a do-able deadline? Anyone else going to give it a go? http://www.thebookseller.com/news/good-housekeeping-launches-%C2%A325k-novel-competition.html