Hey, i would like to make a new animation using the basic character that is provided using blender.Can someone point me to some links,videos,tutorials etc that would help me in doing so?
You first need to rig your Blender-character. Give it a skeleton with the same bones the Free Animation Pack use.
You can try to use the Mixamo auto-rigging tool and export it for UE4. Open the downloaded file in Blender.
You can now create animations with blender. Keyframes or with Motion capture using iPi Motion Studio.