Microwave all the ingredients in a bowl on high for 5 minutes, stirring every minute. It will be a bit watery during the first few minutes but will be perfectly smooth and runny after everything has melted together

You can now serve immediately as a dip for tortilla chips or you can let cool and refrigerate / freeze in portions. Remember to line your moulds with clingfilm - I got distracted and forgot so it was hard to show the set but it will slice well once set if you line the moulds. To melt just reheat in the microwave, stirring every 30 seconds until hot and creamy

Use as you would store bought Velveeta, for dips, mac n cheese etc. Will keep well for a week in the fridge. Makes around 900g / 2lbs