Kensington Mortgage Company is offering a 1 per cent cashback product through Private Label.
The cashback is available up to £5,000. Commission is 1 per cent of the loan up to £1,000.
Kensington charges interest rates of Libor, currently 7.6 per cent, plus between 3 and 4.5 per cent depending on the number of county court judgments the borrower has.
Redemption penalty is five months' interest in the first year, four months' in the second and three months' in the third.
Kensington lent about £300m last year to borrowers with a poor credit history. It accounts for about half of completions in the sub-prime market.
Private Label executive chairman Stephen Knight says: "Kensington became the first of the new breed of specialist non-conformist lenders offering mainstream terms such as Libor-linked loans and no redemption charges after three years.
"We are delighted to be offering this exclusive cashback on a specific tranche."