The deal is fixed for one year and comes with a two per cent fee.
Only borrowers with a large chunk of equity will be accepted with the loan to value (LTV) capped at 65 per cent.
TMW said it is increasing its range of mortgages to give landlords more choice during the current uncertainties.
The lender hoped the new product could help borrowers manage their cashflow.
Henry Jordan, Nationwide director of mortgages (pictured), added: “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.”