The National Home Builders Registration Council is suspending the practice of accepting enrolment fees through the PA003.
In terms of Rule 5(1)b of the National Home Builders Registration Council Rules in GNR 1408 of 1 December 1999 (âRegulation 1408â), the NHBRC is required to enter into agreements with financial institutions and/or mortgage lenders for the payment of enrolment fees in respect of monies owed to the home builder by the housing consumer on payment of the first progress payment (âPA003â) from a mortgage loan.
In lieu of a NHBRC agreement with any financial institution/mortgage lender, as required by Regulation 1408, the NHBRC hereby advises the suspension of the PA003 method.
Home builders and housing consumers are encouraged to direct any enquiries to the nearest NHBRC provincial customer care office.