MRT1 Mortgage Law, Practice and Application: exam guide
1,156 words · checked 2026-10-30 · Free
MRT1 is the first of the two units in CeMAP® Module 2 (MORT). Its official title is "MORT: Mortgage Law, Practice and Application". It covers what a mortgage is in law and regulation, who borrows and who cannot, the MCOB duties of lenders and advisers, the market and rate environment, the principles of suitable and affordable advice, and the property side of a mortgage: costs, defects, value and valuations. This guide explains the exam format, the eleven learning outcomes and a sensible way to revise them.
The exam at a glance
| Feature | MRT1 |
|---|---|
| Questions | 50 standalone multiple-choice questions |
| Marks | 50 (one mark per question) |
| Time | 1 hour |
| Pass | 35/50 (70%) |
| Merit | 40/50 (80%) |
| Distinction | 45/50 (90%) |
| Case studies | None. Every question stands alone. |
| Delivery | Online on Brightspace, remotely invigilated, on demand |
Sixty minutes for fifty questions gives you an average of 72 seconds per question. Most MRT1 questions are short knowledge checks, so you should finish with time to review flagged items. Calculation questions (stamp duty, loan-to-value, higher lending charges) take longer, so bank time on the quick ones.
The specification describes the questions only as "MCQs". The FSRE units state "select 1 answer from 4"; for MRT1 the number of options is not stated officially. Our practice questions use four options, which is the common format, but do not rely on that as a rule.
How the exam is run
- On demand. You can sit the exam at any time during your registration period. There is no need to book a slot.
- Remote invigilation. Before you start, you scan the room (a 360-degree check) with your webcam or laptop. Toilet breaks are not allowed during the exam.
- Equipment. Any PC or laptop works without plug-ins. If you are on a work device or VPN, ask your IT team to allow the exam platform domains listed by Walbrook.
- Back-to-back sittings. You may sit units on the same day or on separate days.
- Grading. The qualification overall is pass or fail; merit and distinction are recorded at unit level. Results feedback appears on MyLIBF.
Registration, resits and fees
| Item | Position at October 2026 |
|---|---|
| Registration period | 18 months for the full CeMAP; 12 months if you register for a module on its own |
| CeMAP 2 (MORT) module fee | £320 (includes MRT1 and MRT2 study material and first exam attempts) |
| Full CeMAP | £735 |
| Resit fee | £120 per unit |
| Resit limits | For each failed unit, no more than three attempts in a week and ten attempts in any 12-month period |
Check the Walbrook course page before you pay, as fees can change.
What MRT1 replaced
MRT1 was introduced with the new CeMAP structure from 30 September 2025, with exams on Brightspace from 10 November 2025. Learners who had passed old Unit 3 (MLPP) and Unit 4 (MAPP) were treated as having passed MRT1. Old-structure exams ended on 12 January 2026, so every live CeMAP 2 exam is now MRT1 or MRT2.
The suggested learning path is FRE1, then MRT1, then FRE2, then MRT2, then the synoptic ASEW/ASSC case-study exam. You may study in a different order, but MRT1 builds on the regulatory basics in FRE1, and ASEW/ASSC tests MRT1 content again through case studies.
The eleven learning outcomes
| LO | What it covers | Our note |
|---|---|---|
| 1 | Regulatory and legal definitions of a mortgage; regulated second charge loans | mrt1_01_definitions |
| 2 | Buying at auction: funding up front; unconditional and conditional auctions | mrt1_02_auction |
| 3 | Types of borrower, impaired credit, mortgage prisoners, those who cannot borrow | mrt1_03_borrowers |
| 4 | MCOB roles and responsibilities of lenders and advisers | mrt1_04_mcob_roles |
| 5 | Property market, interest rates, lending sector, buy-to-let, MCOB regulation | mrt1_05_market_context |
| 6 | Affordability, suitability, risk, term, ethics, verification, matching needs | mrt1_06_advice |
| 7 | Higher lending charges, guarantors, sureties and other additional security | mrt1_07_security |
| 8 | Purchase costs and taxes, lender fees, broker and exit fees | mrt1_08_fees |
| 9 | Property defects, lending decisions, retentions, new-home guarantees | mrt1_09_defects |
| 10 | Factors affecting value: tenure, legal issues, insurability, flood, subsidence, listing | mrt1_10_value |
| 11 | Valuations and RICS Home Survey levels; lender requirements; consumer rights | mrt1_11_valuation |
There is no official split of the 50 questions across the learning outcomes. In practice LO3 (borrowers), LO5 (market and regulation), LO6 (advice) and LO10 (value) have the most content, so expect more questions from them. LO2 (auctions) and LO7 (additional security) are small, but they are easy marks if you know the basics.
Figures and the tax table
MRT1 tests purchase taxes (SDLT in England and Northern Ireland, LBTT in Scotland, LTT in Wales) as part of LO8. Walbrook provides a tax table with the study materials, but it does not publish which tax year applies to which exam window. Our notes and questions use the figures in force on 30 October 2026, which are the 2026/27 rates. If your study text shows different figures, follow the tax table issued with your materials.
The key current figures worth knowing for MRT1 are:
- SDLT residential nil band £125,000; first-time buyer relief to £300,000 for prices up to £500,000; a 5% surcharge on additional dwellings.
- LBTT nil band £145,000; first-time buyer relief worth up to £600; an 8% Additional Dwelling Supplement on the whole price.
- LTT nil band £225,000; no first-time buyer relief.
- Bank Rate 3.75% (unchanged since 18 December 2025).
- The MCOB interest-rate stress looks at least five years ahead and assumes a rise of at least 1%.
How to revise
- Learn the vocabulary first. Many MRT1 questions turn on one word: mortgagor or mortgagee, unconditional or conditional, reinstatement or market value, heave or subsidence.
- Tie each rule to its source. Know that affordability is MCOB 11.6, suitability MCOB 4.7A, initial disclosure MCOB 4.4A, charges MCOB 12 and arrears MCOB 13. The exam rarely asks for rule numbers, but knowing them keeps your answers precise.
- Practise the calculations. Work through the SDLT, LBTT and LTT examples in the fees note until you can do them without notes.
- Use the exam traps. Each note ends with common wrong answers. Most marks are lost on near-miss options, not on unknown topics.
- Mix your practice. Because questions are standalone and drawn across all eleven LOs, finish with timed mixed mocks of 50 questions in 60 minutes.
No study method can guarantee a pass, but steady practice against the learning outcomes is the most reliable route.
Recap
- MRT1 is 50 standalone MCQs in 1 hour; the pass mark is 35/50 (70%).
- Exams are on demand on Brightspace with remote invigilation and a room scan.
- A resit costs £120, with limits of three attempts a week and ten in 12 months.
- Eleven learning outcomes cover law, borrowers, MCOB, the market, advice, security, fees, defects, value and valuations.
- Use the 2026/27 figures in these notes unless your official tax table says otherwise.