First time buyers UK mortgage advice?

A friend of mine is looking to buy a new build and really take advantage of the incentives they offer for first time buyers. Thing is for what he wants to buy he can only really afford to do it as a first time buyer with the included developers incentives.





He doesnt want to move into the flat but let it out or give it to a letting agency to take care of. Are there issues with this in terms of buying on a first time buyers and than renting it out? Do you have to inform the mortgage company afterwards? Whats the best way to make it work out legally or in a way that he gets all the advantages of the first time buyers (i.e. live there for a few months then rent it).





Anyone had experience in this? Ideas, advice, legal loop holes :).?First time buyers UK mortgage advice?
There shouldn't be a problem with your mate renting out his flat, the best thing to do is to inform the mortgage lender that he plans to let out the property and take out adequate insurance for the place. If he wants to manage it himself then I guess it is just a case of him making sure that he can take care of any domestic issues that arise like the boiler breaking down and collecting rent. The thing to watch out for is the new HMO's that have come in but this will only affect him if he has more than three tenants in the place. In terms of incentives he might want to check out the guarantees that come with buying a new build, I understand that some of them come with these so he might save some money in the long run.