Existing landlords looking to transfer to a new product can opt for the new one-year fixed rate mortgage, which is available at 65% LTV, has a rate of 1.00 per cent with a 2% product fee – the lowest fixed rate ever offered by TMW.
TMW is looking to increase its range of mortgages to give landlords further choice during this period of uncertainty and the new product could help them manage their cashflow through this period. TMW continues to offer a full range of fixed and tracker mortgage to suit the different needs of landlords.
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.”
