Dutch professional secures a holiday apartment

Sven, a pseudonym for a 37‑year‑old IT project manager from Utrecht, had long been captivated by southern Spain’s lifestyle. Each year, he visited the Costa del Sol to escape the Dutch winters, enjoying sailing trips, golf, and tapas with friends. As his career progressed, he built savings and considered investing in a second home that would serve both as a personal retreat and a long-term asset. He targeted a one-bedroom apartment near the beach that he could use for a few months each year and rent out to holidaymakers when he was back in the Netherlands. Having never bought property abroad before, Sven was unsure how to navigate the financing process. He knew he needed a mortgage to avoid tying up his entire savings but didn’t know if Spanish banks would finance a modest apartment for a Dutch national who spent most of his time abroad.

Sven searched online and quickly found conflicting information. Some sites suggested non-resident buyers needed to put down large deposits, while others claimed mortgages were impossible for foreign buyers on small properties. Sven reached out to several local agents, but they focused on showing properties rather than explaining how to finance them. He didn’t know what documents Spanish banks would require, whether his Dutch salary would be acceptable, or how rental income might factor into affordability. He also worried about getting bogged down in Spanish bureaucracy and language barriers.

A colleague in his coworking space recommended Zerodown, recalling that they helped his cousin purchase an apartment in Malaga. Sven visited their website and appreciated the clear, step-by-step description of how non-resident mortgages work. He completed the pre-check form, detailing his annual salary, target property price around €350,000, and his intention to rent out the apartment when not in residence. Within 48 hours, he received a call from Maria, a pre-qualification specialist at Zerodown who spoke Dutch and English fluently. Maria explained that while each case is unique, many banks do lend to EU residents living outside Spain if they can demonstrate stable income and a clean financial record. She asked Sven to prepare documents such as his passport, proof of address in the Netherlands, three months of payslips, tax returns for the last two years, and bank statements. She also noted that if rental income was to be used to support the mortgage, lenders might require a long-term rental forecast or a management contract with a reputable agency.

Sven gathered his paperwork. Being salaried with a stable job, he had little trouble producing payslips and a letter from his employer confirming his employment status and salary. He downloaded his Dutch tax returns and bank statements. He provided evidence of savings in case a larger deposit was required. Maria reviewed each document to ensure it was legible and complete. She advised obtaining certified translations where necessary, such as for the tax returns, to speed up the process. She also helped Sven draft an explanation of his plan to rent out the property, emphasising that rental income would supplement rather than be necessary for mortgage repayments.

While preparing the file, Sven travelled to the Costa del Sol to view apartments. He visited several complexes, focusing on locations near public transport, the beach, and amenities attractive to holiday renters. Eventually, he found a modern one-bedroom unit in a gated development near Estepona’s seafront. The apartment featured a spacious balcony, communal pool, and on-site concierge. Priced at €350,000, it was within his budget. Sven placed a reservation deposit, subject to obtaining finance.

With the file complete, Zerodown introduced Sven’s case to a Spanish bank known for lending to EU citizens. The bank’s initial feedback was positive, noting that his stable salary, savings, and EU citizenship gave them confidence. They did, however, want clarification on his plan for renting out the property. Maria suggested providing a letter from a holiday lettings agency outlining a rental income estimate. Sven contacted a reputable agency on the Costa del Sol, which assessed the apartment and provided a conservative income projection. This document, along with the rest of the file, was added to the lender’s application.

Within two weeks, the bank issued an indicative term sheet. It proposed a mortgage covering a substantial part of the purchase price with the remainder as deposit. The term sheet outlined the interest rate, which was variable with a floor, and the repayment period. Maria explained that variable rates could fluctuate but also provided initial cost savings compared to fixed rates. Sven, who planned to pay off the mortgage within a decade, was comfortable with this structure. He noted that the monthly payments were affordable even without rental income, ensuring that he wouldn’t be forced to let the apartment if he didn’t want to.

The next stage was valuation and underwriting. The bank commissioned an independent valuation of the apartment. Zerodown liaised with the agent and the valuer to ensure access to the property. The valuation confirmed the purchase price, and the bank proceeded with underwriting. They requested an additional document: a credit report from a Dutch credit agency. Maria guided Sven on how to obtain this and submit it. She also advised him to maintain clear communication with his employer in case the bank needed further confirmation of his job stability.

Underwriting went smoothly. The bank appreciated the thoroughness of the file prepared by Zerodown and the conservative assumptions on rental income. They issued a binding offer within a month. Sven reviewed the terms, which included details about the initial interest rate, possible adjustments, and prepayment penalties. He consulted with a Dutch financial adviser, who confirmed that the mortgage fit his budget and investment goals. Sven accepted the offer, setting a completion date.

On completion day, Sven returned to Spain. He met with the notary, where documents were read aloud in Spanish and Dutch. Zerodown’s lawyer partner accompanied him to ensure clarity and to liaise with the bank. The mortgage funds were transferred to the seller, and Sven paid the deposit from his savings. He received the keys to the apartment, thrilled at his first property abroad.

Reflecting on the experience, Sven appreciated the role of an introducer. Without Zerodown’s guidance, he would have struggled to know which banks to approach and how to present his income and rental plans. The process was not free of complexity – the translation of documents, the rental income documentation, and the credit report all required careful management – but he never felt overwhelmed. Maria’s steady communication and clear explanations were invaluable. As he prepares to furnish the apartment, Sven is already planning his first long stay and has set up a management company to handle rentals when he is away. He now has a foothold in his favourite holiday destination and peace of mind that his finances are structured sensibly.

Once the apartment was his, Sven focused on preparing it for both personal use and holiday rentals. He consulted with an interior designer who suggested durable yet stylish furnishings that could withstand guests’ use. Sven invested in high-quality bedding and kitchenware, believing that satisfied renters would leave positive reviews and encourage repeat bookings. He also installed smart locks and a security system to allow remote check-ins, increasing convenience for both him and his guests.

During his first summer as an owner, Sven spent several weeks in Estepona. He explored local coffee shops, beach clubs, and hiking trails, discovering hidden spots he hadn’t visited while on holiday. These experiences made him appreciate the area beyond the tourist attractions. He also met with the property management company regularly to review occupancy rates and plan maintenance. The rental income covered a portion of his mortgage payments and provided insight into the seasonal patterns of the local market. When he returned to the Netherlands, he remained engaged via regular video calls with his property manager, ensuring the apartment stayed in good condition.

Sven’s experience taught him that owning a holiday apartment requires ongoing attention. Regulations regarding short-term rentals in Andalusia changed during his first year, prompting him to renew licenses and update safety features. Maria at Zerodown notified him of these changes and connected him with a lawyer who handled the paperwork. By staying proactive, Sven avoided fines and ensured compliance. He also joined an online forum for Dutch property owners in Spain, where members shared tips on tax declarations, tenant screening, and local service providers. These connections enriched his experience and reduced the isolation of managing a foreign property.

Reflecting on his journey, Sven concluded that the key to success was preparation and openness to learning. The mortgage process had seemed daunting, but with Zerodown’s guidance, it became manageable. The ongoing relationship with the introducer proved beneficial beyond the initial purchase, as they continued to update him on regulatory and market developments. Sven now looks forward to spending more time in Estepona each year and is considering purchasing another property in a different part of Spain, confident that he understands the process and can rely on professionals to support him.