To outsource or not to outsource this is the dilemma!
I could talk about this subject for a long time but long story short this is my conclusion :
to outsource the development of code for a startup, and I repeat FOR A STARTUP ( with a startup I mean : "a saas product built from scratch" ) can be done only if the outsourcing is totally controlled by a technician that is part of the company. But even in that case, a positive result is not guaranteed because if the CTO ( or whoever in the company ) cannot control completely the dynamics and the work processes of the outsourced team you will literally burn your money.
Just to give a measure of what I am saying, it is already very complicated for a team in loco, all under your control and always reachable to find the right balance, communication, and productivity. Many companies are struggling to achieve it in a normal condition, so how much harder it is to achieve the same results with a team that is working in outsourcing for you ? never forget they are a team of mercenaries !!! the time is passing by and they are paid based on this, that's it.
Said that, as everybody knows, there are many software companies composed only of employees that are working remotely, but they are employees, not an outsourced team! It is a completely different thing, no need to explain why ( http://www.forbes.com/sites/laurashin/2016/03/31/at-these-125-companies-all-or-most-employees-work-remotely/#4504c3fb4d94) .
So my suggestion is invest your time in refining the product building as much prototypes as possible and showing them to as much customers as you can ( and most probably you'll be surprised by the feedback and anyway you'll improve the product) at the same time jump in all the meetups and events for developers that you can reach in London where you'll start to pitch the project in a very simple way and while you are pitching ask for developers that could be interested in your business project.
If you are afraid to pitch because you don't want to talk about your secret product probably all the things I have said above are going wasted because I radically consider that type of mindset very dangerous and capable of destroying any chance to really build a good business.
If you are still tempted from the shortcut of finding someone to outsource the MVP think about this questions:
What happens when the money is finished and the product is not yet ready ? ( 5000 are burned just with 2 months of a good Indian developer and if you can build a product with one dev only in 2 months you are really a great man)
What happens if the product is finished and then you test it and you discover ( as it always happens ) that just a simple modification would make the product work but you cannot do it because you have finished your money ?
I would never suggest to a friend to outsource the development of his first product.....
Save your money and invest in prototyping & going out of building and pitching, maybe it could appear a strange proposition but this what I would suggest to someone I care about.
I am available to explain you more extensively why.
Good luck :)