Freedom Lending has launched a two-year discounted buy-to-let mortgage with a rental calculation based on 120% at the pay rate.
The product features include two-year discounts based on LTV: 1.36% discount up to 75% LTV, 1.26% discount up to 80% and 1.16% discount up to 85% LTV. Loans up to 1 million are available to 75% LTV, no HLC and procuration fee of 0.5%.
Mel Dring, marketing director of Freedom Lending, says: 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.