Lambeth Simply Postal has launched a range of discount rate mortgages.
The range includes a two year discount of 2.25 per cent for loans up to 95 per cent loan to value. The payable rate is 4.55 per cent.
It has a 5 per cent penalty if the loan is redeemed in the first three years.
The three year discount is 2.31 per cent up to 95 per cent LTV making a payable rate of 4.49 per cent. The redemption penalty is 6 per cent in the first five years.
The four year discount of 1.56 per cent for loans up to 95 per cent LTV brings a payable rate of 5.24 per cent. There is a redemption penalty of 6 per cent in the first six years.
Further discounts of up to 0.45 per cent apply if one of the society's range of insurance products is taken.