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Test for BTL

By Jake Syms / July 7, 2020

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Question 1 of 11

1. Question
What best describes a consumer BTL?
- The property was not purchased with the intention of being let out
- The property was purchased with the intention of being let out
- A loan for a property where part of the property will be for commercial use
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Question 2 of 11

2. Question
Which of these is an “Expat”?
- An american citizen that would like to purchase a property in the UK
- A UK citizen that no longer resides in the UK
- An EU citizen that no longer resides in the EU
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Question 3 of 11

3. Question
According to the PRAs supervisory statement, what is the definition to a portfolio landlord?
- A landlord that has 4 or more mortgaged BTL properties
- A landlord that has 3 or more mortgage BTL properties
- A landlord that has 2 or more mortgaged BTL properties
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Question 4 of 11

4. Question
What does MUFB stand for?
- Multi-unit freehold block
- Many Units for borrowers
- Mortgage Union Finance Body
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Question 5 of 11

5. Question
What solution could be offered to a client who would like to purchase a property that is in “unlettable condition”?
- Purchase the property on a BTL term product. Put the valuation on hold until all works are completed to ensure that the property is "lettable"
- Tell the client not to purchase the property
- Purchase the property through short term finance, such as a bridging loan. Complete works to ensure the property is "lettable" and then refinance onto a BTL term product
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Question 6 of 11

6. Question
The HMO licence rules means that it is mandatory for a landlord to what?
- For each tenant to have their own kitchen if there are 2 or more tenants
- Have a lock on all doors if there are 3 or more unrelated tenants
- Have a license on a property if there are 5 or more non related tenants
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Question 7 of 11

7. Question
What is the minimum percentage of deposit that a client would need to purchase a BTL?
- 5%
- 15%
- 25%
- 20%
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Question 8 of 11

8. Question
Who would be considered a foreign national?
- A UK citizen who is looking to purchase a property outside of the UK
- An Australian citizen national looking to invest in a BTL property in the UK
- A UK citizen who no longer lives in the UK, that is looking to invest in a BTL property outside the UK
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Question 9 of 11

9. Question
Following the PRA changes, what is the typical rental coverage most lenders use to assess affordability when purchasing a property through a limited company?
- 145%
- 100%
- 125%
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Question 10 of 11

10. Question
A property which is let to multiple individuals, such as students is called a what?
- HMO
- MOH
- MUB
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Question 11 of 11

11. Question
If a client has taken out a bridging loan in order to purchase a property that they intend to let out, would this be considered regulated or unregulated?
- Unregulated until there is a tenant living in the property
- Regulated
- Unregulated
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