MRT1 Mock Paper 5 — Mortgage Law, Practice & ApplicationHarder
The hardest MRT1 paper, weighted to mortgage law and affordability with detailed valuation and survey questions. 50 questions, 60 minutes, pass mark 35/50.
Ready when you are
The timer starts when you press the button. You can still finish after it runs out — it is there to mimic exam pressure, not to lock you out.
Free preview: the first 5 of 50 questions, with a timer to match. Unlock the full paper
Answer options are shuffled on every attempt. Your progress is saved as you go, so a refresh won't lose it.
About MRT1 Mock Paper 5
Paper 5 is the hardest MRT1 mock and returns to a law-heavy shape — 12 questions on mortgage law — but pairs it with the unit's most demanding affordability work, including six calculations. Where Paper 1 asks whether you know a rule, Paper 5 asks what happens when two rules meet: a borrower whose income is invisible to credit agencies, a purchase attracting two SDLT charges at once, an occupier who is not quite a tenant, a valuation that comes in under the agreed price. It is the paper to sit last, and a comfortable pass on it is a fair signal you are ready.
It is paper 5 of 5 in the MRT1 ramp, the Mortgage Law, Practice & Application unit, sitting in the harder tier. Every question carries a written explanation.
Format, timing and pass mark
MRT1 Mock Paper 5 follows the live MRT1 format: 50 standalone questions, in 60 minutes — about 72 seconds a question. Pass mark 35/50 (70%), as in the real assessment. There is no negative marking, so answer everything.
What this paper tests
The 50 questions in MRT1 Mock Paper 5 break down across 7 topic areas:
- Mortgage law12 questions
- Applications & affordability10 questions
- House-buying practice9 questions
- Products & lenders7 questions
- Valuations & surveys5 questions
- Tax & schemes4 questions
- Regulation & MCOB3 questions
Where candidates lose marks on MRT1 Mock Paper 5
Three traps this paper sets deliberately. Each one is a question where the wrong answer is the one most candidates would give.
Student loans are invisible to credit agencies but still count
Income-contingent student loan repayments are collected through payroll and are not registered with credit reference agencies. They still reduce net disposable income, so an MCOB-compliant affordability assessment includes them. They neither bar borrowing nor sit outside the calculation, and both of those overstatements appear as options.
A lodger is a licensee, not a tenant
Someone sharing living accommodation with a resident owner is a licensee, excluded from tenancy protections, and mortgage conditions commonly tolerate one or two lodgers while the borrower remains in residence. Letting the whole property is a different matter entirely and needs consent to let or a buy-to-let mortgage.
LTV is the loan's share of the value, not the deposit's
A £425,000 purchase with an £85,000 deposit needs a £340,000 loan, which is 80% LTV. The 20% option is the deposit expressed as a percentage — a correct figure answering a question nobody asked. Deducting the deposit before dividing is the habit that prevents this.
The multiple in the question is the multiple you use
A single applicant on £36,000 at 4.5× can borrow £162,000. The options also offer £144,000 (4×) and £180,000 (5×), both perfectly good arithmetic applied to a multiple the question did not specify. In a paper this dense, the instinct to reach for the familiar 4.5× or 4× before reading is what costs the mark.
Cash needed is more than the deposit
A buyer facing a £30,000 deposit, £2,500 SDLT, £1,500 in legal fees and disbursements and a £600 survey needs £34,600 in total. Each wrong answer drops exactly one component. The practical lesson — transaction costs are budgeted on top of the deposit, never inside it — is the same one the affordability questions keep returning to.
A worked example from MRT1 Mock Paper 5
A buyer agrees £310,000 and plans a 10% deposit. The lender's valuer reports £295,000, and the lender will advance 90% of valuation. How much cash does the buyer now need?
- 1.The lender lends against valuation, not against the agreed price: 90% × £295,000 = £265,500.
- 2.The buyer still has to pay the seller the agreed price of £310,000.
- 3.Cash required = £310,000 − £265,500.
- 4.Compare with the £31,000 originally budgeted, which was 10% of £310,000.
Answer: £44,500 — £13,500 more than planned
The instinct is to take 10% of the down-valued figure and conclude the buyer needs less. The opposite is true: a down-valuation transfers the entire shortfall onto the buyer's cash, because the lender's exposure is capped by its own valuation while the contract price is unchanged. This is the single most useful calculation in the unit for real advice work.
Try two questions from MRT1 Mock Paper 5
These come from the free preview of this paper. Answer them, then reveal the explanation.
Applications & affordability
A buyer pays £425,000 for a house using an £85,000 deposit. What LTV mortgage does she need?
- A85%
- B80%
- C75%
- D20%
Reveal the answer
B is correct. Loan = £425,000 − £85,000 = £340,000; LTV = £340,000 ÷ £425,000 × 100 = 80%. The 20% option is the deposit percentage, not the loan-to-value.
Mortgage law
Since 1925, how many legal estates in land can exist in England and Wales, and what are they?
- AOne — the fee simple; all other interests are equitable
- BThree — freehold, leasehold and commonhold, each recognised as a separate legal estate by the Law of Property Act 1925
- CTwo — the fee simple absolute in possession and the term of years absolute
- DAn unlimited number, provided each is created by deed
Reveal the answer
C is correct. The Law of Property Act 1925 reduced legal estates to two; everything else takes effect as an interest in land or in equity. Commonhold is a form of freehold ownership, not a third legal estate — a subtle but frequently tested point.
Scored under 70%? Revise these next
A near miss is almost always a calculation you cannot do under time pressure, a definition you half-know, or a rule you have never read in the examiner's words. Start with the topic areas above where you dropped marks, then:
- →Drill the calculations on the CeMAP formula sheet — LTV, income multiples, SDLT, APRC, ERCs and rental cover, each worked through.
- →Nail the terminology in the CeMAP glossary — a surprising share of wrong answers are a term you nearly knew.
- →Re-read the syllabus coverage on the MRT1 exam guide, then sit the next paper in the ramp.
The other MRT1 mock papers
5 timed mocks for this unit, running easier → harder. Sitting the whole ramp is what moves a borderline score to a comfortable pass.