Existing landlords looking to transfer to can opt for the 1-year fixed rate mortgage, which is available at 65% loan-to-value (LTV), has a rate of 1.00% with a 2% product fee – the lowest fixed rate ever offered by TMW.

Henry Jordan, Nationwide’s director of mortgages, said: “The impact of COVID-19 has led to uncertainty in the property market and some landlords are looking to manage their cashflow as they navigate the coming months.

“Some may be reluctant to lock into a long term mortgage deal, so the Society has introduced a new one-year fixed mortgage with its lowest ever rate, to support these landlords.”