With the latest Lotro Free to play model update, several changes have been made to Lotro Mount System like adding Temporary mounts and the ability to learn the Riding Skill at level 5.
There are several different types of mount: Temporary mounts, Bree-land Starter mount, Regular Mounts, Faction mounts, Festival mounts, Special Deed mounts and Quest Mount.
* With the November Update 2010 new Reputation horses have been added. You can see the stats and screenshots here
A temporary mount can be acquired from the Turbine store at level 5. You don't have to finish any quest just to spend some Turbine Points. These mounts expire after a specific period of time (hours or days).
Crumbling Whistle - Increase travel speed for 33% - 6 hrs - 25TP
Tarnished Whistle - Increase travel speed for 33%- 24hrs - 75TP
Polished Whistle - Increase travel speed for 33% - 7 days - 150TP
Bright Whistle - Increase travel speed for 33% - 30 days - 350TP
Crumbling Whistle - Increase travel speed for 60% - 6 hrs - 75TP
Tarnished Whistle - Increase travel speed for 60% - 24hrs - 125TP
Polished Whistle - Increase travel speed for 60% - 7 days - 350TP
Bright Whistle - Increase travel speed for 60% - 30 days - 595TP
Bree-land Starter mount
VIPs can obtain a Starter mount at lvl 5 by traveling to Hengstacer's Farm to the North of Bree-Town and pay 200s. The Bree-Land Starter Steed appears to be functionally the same as the Basic Mount listed in the Lotro Store. This mount does not require the Riding skill. It's very slow mount (increase travel speed for 33%).
F2P and Premium players can obtain the Starter mount only from the Lotro Store.
Premium and F2P players have to purchase the Riding Skill from Turbine store (195 TP). If you are a VIP player, you can take the riding quest Proving Your Quality for the Riding Skill at Hengstecer's farm at level 20. Once you get the Riding Skill you can own a permanent mount.
Where to buy a mount?
If you have 500 silver you can buy your mount at Hengstacer Farm in Bree-land, or if you don't have enough silver you can buy your mount from the Lotro Store. Some special mounts are only available at the Lotro Store.
Note that once you have purchased a mount from Henstacters, Eogar awards you a trait that will offer a 60% discount on all future common mount purchases from Hengstacer Farms in Breeland. Prices drop to 200s for standard mounts, and 80s for the Breeland Starter mount!
How to summon your mount?
Mounts are toggle skills! They can be quick-slotted like other skills or executed directly from the new Mount panel (Character Journal -> Skills -> Mount). A new keyboard shortcut can be set to promptly access your mounts panel (using Key Mapping Options).