Freedom Lending has launched a two-year discounted buy-to-let mortgage with a rental calculation based on 120% at the pay rate.

Key product features include two-year discounts based on LTV; up to 75% LTV at 5.63% (1.36% discount), up to 80% LTV at 5.73% (1.26% discount) and up to 85% LTV at 5.83% (1.16% discount).

Reversion rate is currently 6.99%. Loans up to £1 million to 75% LTV (£500,000 to 80% LTV and £400,000 to 85% LTV) are accepted.

Freedom Lending's marketing director Mel Dring said: “Two-year discounts are a popular product in this sector of the market, but have not been widely available in recent months.

"This product offers a combination of competitive rates and attractive criteria based on a rental calculation of 120% at pay rate. I have no doubt this will be popular with both brokers and borrowers.”

Available now from www.Mortgage-Shop.co.uk