MFN statusThe status given by the U.S. to some non-members of the GATT/WTO whereby they are charged MFN tariffs even though they are eligible for higher tariffs. See PNTR.
Full status mortgageFull status mortgage
A full status mortgage is for people who wish to make a lender aware of any previous arrears or debt problems they may have had. If they do not make the lender aware of these facts and they are latetr discovered, his could lead to all sorts of problems and the borrower could even be forced to sell the home. If you have a bad credit record some lenders will regard lending you money a high-risk activity. Many will not lend you money at all and when you can get a loan, you will undoubtedly have to pay a higher rate of interest than you would otherwise.
Status quoStatus quo
The current situation. A preference for the status quo means a reluctance to change.
Residence statusResidence status
The definition of a person's status when living or working outside the UK with regard to his/her taxation liabilities. This can be:Resident in the UK, which applies if:The person spends more than 183 days are spent in the UK in any tax year.The UK is visited on a continuing basis where the average visiting time is over 3 months taken over 4 consecutive years.The person is a British or Irish subject who is ordinarily resident in the UK and occasionally resident abroad.Ordinarily Resident in the UK, which applies if:The person resides in the UK on a permanent basis.Domiciled in the UKThere are a number of types of domicile, that is, domicile of origin, domicile of dependence and domicile of choice. This is a very complicated aspect of general law and advice should be sought when dealing with these matters.
Non status mortgageNon status mortgage
Mainly for people whose income is difficult to assess using the standard method adopted by most conventional mortgage lenders. Bonuses, commission and seasonal work can cause income to vary over time or be difficult to guarantee and this may not be considered acceptable in order to get a loan. The main groups of people that opt for self-certification mortgages are: self-employed and unsalaried company directors, contract workers (increasingly common in technology-based industries), commission-based workers (often in sales, recruitment etc.), people with seasonal earnings. The interest rate you are charged will be higher to compensate the lender for the increased risk.
Tax status electionTax status election
The decision of the status under which to file a tax return. For example, a corporation may file as a C corporation or an S corporation.
Further SuggestionsEmployment status