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What does NTU stand for and how does it impact me?

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Sidesh
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What does NTU stand for and how does it impact me?

Hi there,

 

I recieved a mail from my bond registration attorney suggesting that my bond maybe 'NTU'd' as the property I am attempting to buy is taking more than a year to conclude ( Various issues with the transferring attorney ). 

 

What does NTU stand for? And if the bond is NTU'd, will this negetively impact me in the future with regards to credit ratings or getting another home loan down the line?

 

Thanks

Sidesh J.

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Thandazile
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Re: What does NTU stand for and how does it impact...

NTU means
Not Taken Up.
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Thandazile
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Re: What does NTU stand for and how does it impact...

Ntu means not taken up the bond will be closed
It doesn't affect you if its the bank that decided to close the bond because the property delays were not in your control.
You can still go ahead and apply for a property again in future as long as you kept your credit record in a good state.
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