The financial firm is looking to reduce its exposure to the falling property market, by launching the new deal.
Oakwood, a financial firm which buys up mortgages from consumer home loans lenders, is offering discounts to customers who redeem repayments early.
The company's 15 percent discount is being conducted through Engage Credit - and will help it to shore up its balance sheet by encouraging customers to pay up quickly or remortgage elsewhere. This is because, with house prices falling, Oakwood wishes to reduce its levels of exposure to the property market.
However, merely selling these mortgages on to another firm would lead to larger losses than offering discounts encouraging customers to leave.
Oakwood's new deal follows a similar move made last month by Edeus, a UK lender specialising in the sub-prime market. The firm said at the time that customers who switched to a different mortgage firm would receive an eight percent discount - meaning that Edeus was also effectively paying people to leave.
Speaking to industry website Mortgage Strategy, Engage Credit chief executive Jason Miller said: "At the direction of Oakwood Homeloans, Engage Credit has deployed a strategy to target selected borrowers which will allow them to redeem their outstanding mortgage balances at a discount."
He added: "This strategy will allow Oakwood to deleverage its exposure to the housing market while giving selected borrowers incentives to refinance."
Around 250 people have been offered the discount, the BBC reports.
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