Deeds with Banks in Uruguay: BROU, Santander, Itaú, HSBC, and More

When purchasing real estate with bank financing in Uruguay, the public notary plays a central role: they coordinate with the bank, conduct the title search, draft the sale deed and the mortgage deed, and handle the registry registration. In this article, we explain how the process works with each bank.

How does a deed with a bank work in Uruguay?

The general process when purchasing property with a mortgage loan is:

The buyer applies for a mortgage loan from their chosen bank.
The bank approves the loan and conducts a property appraisal.
The public notary is designated (generally chosen by the buyer or proposed by the bank).
The notary conducts the title search for the last 30 years.
Registry and cadastral certificates are requested.
The notary drafts the sale deed and the mortgage deed.
The signing is coordinated at the bank branch or notary office.
Both deeds are registered with the Property Registry.

Banks and financial institutions in Uruguay

At Escribanía Greppi, we work with all banks and financial institutions operating in Uruguay for sale and mortgage deeds:

BROU – Banco de la República Oriental del Uruguay

BROU (Banco República) is the state bank and the largest in Uruguay. It offers the most competitive rates in the market for mortgage loans. Deeds with BROU are usually signed at the bank's branches. The public notary coordinates directly with BROU's Credit Division for documentation.

Santander Uruguay

Santander offers mortgage loans in Uruguayan pesos and Indexed Units (UI). The deed process with Santander includes appraisal by the bank's professionals and coordination with the mortgage department for signing.

Itaú Uruguay

Itaú provides mortgage loans with different competitive terms and conditions. The notary works with Itaú's credit department to prepare all necessary documentation.

HSBC Uruguay

HSBC offers financing for property purchases for both residents and international clients. The notarial process with HSBC follows the entity's international standards.

Scotiabank Uruguay

Scotiabank offers housing loans with flexible conditions and different financing options. The notary coordinates with Scotiabank for deed preparation and signing at the branch.

BBVA Uruguay

BBVA provides mortgage loans for home purchases and construction. Deeds with BBVA are coordinated between the public notary and the bank's real estate department.

Banco Hipotecario del Uruguay (BHU)

The Banco Hipotecario del Uruguay is the specialized institution for housing credit in Uruguay. It offers credit lines with special conditions for first homes and housing access programs.

Other banks and credit unions

We also work with Heritage, Citibank Uruguay, and credit unions such as FUCAC and ACAC, which offer mortgage lines with differentiated requirements.

Required documents for a deed with a bank

Mortgage loan approval from the bank.
Property appraisal conducted by the bank.
Property title deed.
Identity documents of buyer and seller.
Registry certificates (liens, restrictions, seizures).
Cadastral certificate and survey plan.
BPS and DGI certificates from the seller.
Property tax payments up to date.

Costs of a deed with a bank

Costs include the public notary's fees for the sale deed and mortgage deed, professional stamps, contributions to the Notary Association, registry registrations, ITP (Property Transfer Tax), and the bank's own charges (appraisal, insurance, administrative fees).

At Escribanía Greppi, we advise our clients at every stage of the deed process with a bank, ensuring transparency in costs and efficiency in the process. Contact us for a no-obligation consultation.

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