Retired UK couple buys a villa in Estepona

Andrew and Sarah, a British couple in their early sixties, had spent over three decades working in public service in the UK. They had raised two children, built up modest retirement savings, and often dreamed of spending their golden years somewhere with more sunshine and a slower pace of life. Each winter, they felt the damp grey weather more acutely and began to talk seriously about buying a place in Spain. Having visited the Costa del Sol on holidays, they were drawn to Estepona’s mix of whitewashed old town charm, vibrant weekly markets, and proximity to Malaga’s international airport. They imagined morning walks along the promenade, evenings dining al fresco, and a relaxed community of other retirees from around the world. But turning a long-held dream into reality would require navigating the complexities of cross-border property purchase and finance.

The couple began by researching the Spanish property market online. They spoke to estate agents and joined expat forums, but soon realised that finding a suitable property and arranging finance from abroad wasn’t straightforward. Most agents focused on listing properties rather than explaining financing. Many websites offered general information but lacked specifics for non-residents. Andrew and Sarah knew they didn’t have enough savings to pay cash and would need a mortgage to top up their pension funds. They worried whether Spanish banks would lend to UK retirees, what deposit sizes were expected, and how their pension income would be viewed. A friend who had purchased in France advised that local expertise was essential, especially for navigating documentation requirements and language barriers.

In spring, the couple stumbled upon Zerodown, an introducer specialising in helping non-residents obtain mortgages in Spain. Their website outlined a clear process: a quick pre-check to understand eligibility, a document-first approach to reduce surprises, and introductions to lenders suited to each profile. Andrew filled out the online form, sharing basic details about their budget, target area, and pension income. Within two days, he received a friendly call from Isabel, one of Zerodown’s pre-qualification specialists. She spoke fluent English and had spent years assisting retirees from the UK and Europe. Isabel listened to their goals, explained typical loan structures for non-residents, and outlined the documents they would need: passports, proof of UK address, pension statements, bank statements, and UK tax returns. She also clarified that Spanish banks often required non-residents to provide more deposit than local buyers, but that Zerodown’s network could identify lenders open to flexible terms depending on the applicant’s overall financial strength. Importantly, Isabel emphasised that Zerodown acted only as an introducer; they would assemble the file and match it to appropriate banks, but the final lending decision rested with each bank’s underwriters.

Reassured by the clear guidance, Andrew and Sarah began gathering paperwork. Andrew downloaded recent pension payment summaries and their last two years of P60 forms. Sarah contacted their energy provider for a utility bill to prove their UK address. Their bank supplied statements for the past six months, showing steady savings and no outstanding debts. They scanned passports and filled out a simple questionnaire about their assets and liabilities. At each step, Isabel reviewed their documents to ensure legibility and completeness. She recommended obtaining translated versions of their pension statements and tax records, a step which would prevent later delays once the file reached Spanish lenders. Zerodown connected them with a translation service that could certify the documents in Spanish. Within three weeks, they had a complete, well-organised file ready for assessment.

During this documentation phase, Andrew and Sarah took a week-long trip to Estepona to view properties in person. They met with three local estate agents and toured villas in various neighbourhoods. One property stood out: a charming three-bedroom villa on the outskirts of the old town, with a small garden and sea view. Listed at €580,000, it needed some cosmetic updates but had solid structure and ample space. After discussing with Isabel, they decided to make an offer. The agent accepted a verbal offer pending proof of finance. Isabel and her colleagues at Zerodown requested an updated property purchase agreement and valuation so they could include this in the loan file. Because the couple had not yet sold their UK home, they planned to retain it and rent it out; this meant their UK property would be listed as an asset rather than affecting their debt-to-income ratio.

With the property reserved, Zerodown introduced the couple’s file to two lenders. The first was a Spanish bank experienced in lending to British retirees and comfortable assessing UK pensions. The second was a local branch of an international bank with a team that spoke English. Both lenders reviewed the complete file prepared by Zerodown, including the translation certificates. Within two weeks, the first bank issued an indicative term sheet. The bank proposed a fixed-rate mortgage for a portion of the purchase price, requiring the couple to contribute the remainder as a deposit. The term sheet specified the loan amount, interest rate, repayment period, and monthly instalment. Although the rate was slightly higher than mortgages available to Spanish residents, it was in line with market conditions for non-residents and provided the stability Andrew and Sarah wanted. Zerodown explained each line of the term sheet, emphasising there were no hidden fees. They also reminded the couple that this was not an offer of final approval – final underwriting would require a property valuation and additional due diligence.

The next stage involved a valuation of the Estepona villa. The lender appointed an independent valuer to inspect the property and verify that the price matched market levels. Zerodown coordinated with the agent to schedule the valuation and ensured that the couple’s interests were represented. The valuation report arrived within two weeks, confirming the property’s value as slightly above the agreed purchase price. This provided comfort to the lender and to Andrew and Sarah, who now knew they were not overpaying. The bank proceeded to formal underwriting, verifying the authenticity of all documents and assessing credit risk. During this process, there were questions about the source of certain pension payments and a small deposit Andrew had received from a private investment. Thanks to the careful preparation of documents, Andrew was able to provide explanatory notes quickly. Zerodown advised on how to present these responses clearly and in a format preferred by the lender.

After final approval, the bank issued a binding offer letter outlining the mortgage conditions. Andrew and Sarah reviewed the terms with Zerodown and decided to proceed. The final loan amount covered a substantial portion of the purchase price, with the remainder paid from their savings. They appointed a local solicitor recommended by Zerodown to oversee the legal aspects, including the drafting of the purchase deed and coordination with the notary. On completion day, Andrew and Sarah signed the deeds at the notary’s office in Estepona. The bank transferred funds directly to the seller, and they paid the remainder via their Spanish bank account. The couple walked out with keys in hand, relieved and excited to start a new chapter.

Following completion, the couple reflected on the journey. Without the support of an introducer, they noted, the process would have felt daunting. Zerodown’s team had helped them understand what Spanish lenders required, assisted with document translation, and avoided surprises by clarifying fees and timelines early. The quick pre-check gave them confidence to make an offer on the villa, and the detailed case file meant lenders responded swiftly. They appreciated that Zerodown handled the introduction and structured the file but made clear that the final decision lay with the banks. Having now settled into their new home, Andrew and Sarah spend mornings on the terrace, evenings exploring Estepona’s old town, and weekends hosting friends from the UK. They also know that if any issues arise, the team who guided them remains just a call away.

After moving into their Estepona villa, Andrew and Sarah gradually adjusted to life in Spain. They enrolled in Spanish language classes at a local community centre, learning basic phrases to communicate with neighbours and shopkeepers. They also joined a cultural association that organised outings to neighbouring villages and wine tastings. Through these activities, they built friendships with both Spaniards and fellow expatriates. On Saturday mornings, they walked to the market to buy fresh produce, slowly adapting to the rhythms of Andalusian life. The couple discovered that being part of the community added depth to their retirement and made the villa feel like home.

The villa itself became a project that kept them happily engaged. They painted the walls in warm colours, replaced outdated fixtures, and planted herbs and flowers in the garden. Andrew spent hours assembling an outdoor kitchen where he could cook paella for friends. Sarah joined a local gardening club and learned how to cultivate citrus trees and bougainvillea, using advice from seasoned growers. They also installed solar panels to reduce energy costs and contribute to sustainable living. Throughout these improvements, they consulted local tradespeople recommended by their solicitor, ensuring quality workmanship and compliance with regulations.

Financially, the mortgage payments fit comfortably within their budget. The couple set up a euro-denominated account for automated payments, transferring funds from their UK account monthly using Zerodown’s currency partner. They appreciated the consistency of the fixed-rate mortgage, which allowed them to plan long-term. Occasionally, they considered making additional payments toward the principal, but after consulting with their financial adviser, they decided to maintain flexibility and preserve savings for travel and healthcare. The sense of security they felt was amplified by the fact that Zerodown remained available to answer questions about insurance policies and potential refinancing options.

Looking back over the first year in Estepona, Andrew and Sarah felt their decision to work with an introducer had been essential. They had not only secured a mortgage that suited their needs but also formed lasting relationships with professionals and neighbours who made their transition smooth. The villa became a gathering place for their children and grandchildren during holidays, and the memories created there affirmed that the effort invested in the process was worthwhile. They also found satisfaction in offering advice to other retirees in their network who were contemplating similar moves, sharing their experience and recommending Zerodown’s services. Ultimately, the villa represented not just a financial investment, but a fulfilled dream of a vibrant, sun-soaked retirement.