Uruguay Mortgage
When investing in Uruguay property and land, you may find you require Uruguay mortgage information. However, buying property and land in Uruguay with a mortgage is not currently possible for foreigners. This is because the Uruguay banking system is recovering from the financial problems of the 2002 recession. However, with increased interest in Uruguay land and property, it is expected that the Uruguay mortgage market will become available to foreigners to meet demand. When this happens, it is thought that potential for investment in Uruguay property will greatly increase.
It is important to consult your Uruguay lawyer for the latest information on mortgages and finance options in Uruguay when you invest in land or property in Uruguay. Alternatives to Uruguay mortgages include equity release on other properties you may own in your home country or abroad.
Uruguay Tax
If you are making an investment in Uruguay property, you will also need information about the property purchase procedure in Uruguay. This process will be very different from that in other countries and so it is vital that you obtain expert legal advice to ensure that you understand every stage of buying Uruguay land and property.
Your Uruguay lawyer can also give you Uruguay tax information and full details of the Uruguay property purchase procedure. Investment in Uruguay property involves the payment of certain taxes. These include Notary fees of 3%, deed registration and stamp duty fees. Buyer and seller also pay a property transfer tax. For further Uruguay tax and property ownership information, download the full Uruguay Property and Land Investment Guide.
