North Yorkshire Police have not confirmed the identity of the dead man, who was found near the village of East Layton, north of the A66, but he is believed to be Peter Young, 47, who had been missing from his home in Scorton, near Richmond, since early on Friday.

Police, who had been co-ordinating the search involving a Royal Air Force Sea King helicopter and 50 members of three mountain rescue teams, believe there are no suspicious circumstances and are not looking for anyone else in connection with the death.

Mr Young, who lived with his wife, Penny, and their three children at a house overlooking the village green in Scorton, had been seeing his doctor for depression and also had financial worries.

As the search was continuing, Sergeant Richard Hall, of Richmond Police, said: "He just walked out at 7.30am after giving the children their breakfasts and has just disappeared. He did not even take his glasses with him. He has just disappeared off the face of the earth."

Mr Young was last seen at about 8.45am on Friday walking along the road between Moulton and Middleton Tyas, which is close to Scotch Corner. He left his car, BT van, mobile phone, money and credit cards at home.

A Royal Air Force Sea King Search and Rescue helicopter with thermal imaging equipment was brought in to look for him early on Saturday and police also requested the help of Swaledale Mountain Rescue Team.

The number of searchers was increased to more than 50 yesterday when Cleveland Mountain Rescue Team and the Teesdale and Weardale Search and Mountain Rescue Team joined the efforts. They established a temporary headquarters at
Middleton Tyas C of E Primary School, a mile from Scotch Corner, and searched the area, which includes woodland, quarries, disused copper mines and areas of open water.

Police showed photographs of Mr Young to staff working at Scotch Corner Services and other business premises, but nobody remembered seeing him.

Last night a police spokeswoman said: "Officers conducting searches for missing 47-year-old Peter Young who went missing from his home in Scorton near Richmond on Friday, have discovered the body of a man in a wooded area approximately five miles west of Scotch Corner, near the village of East Layton.

"Officers believe there are no suspicious circumstances and are not looking for anyone else in connection with the death."

An inquest is expected to be opened later this week.