Housing Finance Policy

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A. Legal and Regulatory Framework

A.1 Legal and Regulatory Framework
VariableEnd of 2013End of 2012End of 2011SourcesVar ID
Basis of the legal system: Civil, Common, Islamic, Other? (Describe)Civil lawCivil lawCivil law
A Guide to Uruguay's Legal system and Research -
A.1.1
Are there specific laws that deal with mortgages? YesYesYes
Republica Oriental Del Uruguay
A.1.2
Registration/Transfer of titles:A.1.3
Typical number of days needed for the transfer of title66 days66 days66 days
WDI
A.1.3.4
Is there specialized legislation covering:A.1.9
B. Housing Finance Subsidies
B.1 Subsidies to Housing Finance Institutions
B.2 Subsidies to Households
VariableEnd of 2013End of 2012End of 2011SourcesVar ID
Are there subsidies to households on housing finance?YesYes 
MVOTMA(Ministry of Housing Uruguay)
B.2.1
Buy-down of monthly/interest paymentsYesYes 
MVOTMA(Ministry of Housing Uruguay)
B.2.1.2
Subsidies to savings for mortgage loansYes  
MVOTMA(Ministry of Housing Uruguay)
B.2.1.4
Reach of subsidies in 2.1.1 to 2.1.4 ?B.2.2
C. Taxation
VariableEnd of 2013End of 2012End of 2011SourcesVar ID
What taxes apply to Residential Real Estate?C.1
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Notes:
Notes:
Notes:
Notes: BHU is a government supported institution, that promotes savings towards housing loans. It has around 50% share in the mortgage market.
Notes: BHU is a government supported institution, that promotes savings towards housing loans. It has around 50% share in the mortgage market.
Notes: Central Bank
Notes: Central Bank
Notes: Figure is a national statistic, not confined to urban areas.
Notes: It was required by the national housing bank(BHU) to have a minimum 30% built up savings to be qualified for a loan. Now,from 2013, the government is offering guarantee so that loans can be provided to families with 10-15% of savings.
Notes: Law No.s 17.596,12.314,18.574 deal with mortgages.
Notes: Law No.s 17.596,12.314,18.574 deal with mortgages.
Notes: Law No.s 17.596,12.314,18.574 deal with mortgages.
Notes: Lending Rate: 118.38
Notes: The Central Bank regulates the operations of the credit bureau.
Notes: The Central Bank regulates the operations of the credit bureau.
Notes: The Central Bank regulates the operations of the credit bureau.
Notes: The Central Bank regulates the operations of the credit bureau.
Notes: The Ministry can provide support to up to 50% of the monthly payments, under its subsidy quota.
Notes: The Ministry can provide support to upto 50% of the monthly payments, under its subsidy quota.