Tough ex-footballer Larry Lloyd on why he sold his medals to buy a bar in the Costa del Sol.

Footballer Larry Lloyd was one of the toughest, most uncompromising players ever, winning the League championship, League Cup and European Cup with Liverpool and Nottingham Forest in the 70s. Then he moved to Spain and opened a pub in the Costa del Sol before becoming a successful real estate agent in Marbella.

He spoke to Maire Bonheim about life in Spain, learning the language and investment tips for buying in Spain.

You sold your medals to buy a bar in the Costa del Sol – what made you decide to do that?

It was actually on a whim. I went over to look and decided it was time for a new stage of my life; I wanted to go to Spain and open a bar. And the only way I could finance all that was with the medals I had.

Was it a good idea to buy it on a whim?

Well actually the bar didn’t work out, I ended up selling it after 5 months. But it allowed me to look into other things that I could do, and that’s what I did. I went into selling properties.

What are some of the best things about living in Spain?

The weather for one! It’s totally different from the UK. It’s a different way of life, very laid back and relaxed.

What are some of the drawbacks?

I have my two children living in Nottingham and my granddaughter, so that’s the biggest drawback. But I come back reasonably often enough to see them. A lot of Brits live in the part of Spain where I live so I’ve made some friends out there, but the only problem with that is it ruins your chances of learning the language living in a Brit community. When eventually you meet the Spanish it’s a problem!

What might surprise people about the Spanish lifestyle?

One thing about Spain that annoys absolutely everybody, even the Spanish, is the amount of paperwork needed for every minor thing. I thought it was bad enough in England, but in Spain the paperwork, the bureaucracy, the red tape is absolutely annoying. You go to the bank and they are the slowest people in the world. You could be in the queue for an hour, you’re hanging around forever.

Does that extend to buying a property?

That’s changed a lot over the years, there’s been a lot of corruption within the local councils, so you’ve got to make sure all the legals are in place. The process can be quite long but it is better to be safe than sorry.

Do you think property in Spain is still a good investment?

Yes I do but it’s a long term investment. When I first started there was a lot of off-plan buying and then selling before the completion of the property. But now prices have slowed down just like in England. It’s still a good investment, but be prepared to have it for a few years.

What are the risks?

If you’ve got a good lawyer and a good agent the risks are minimal. Just find out first of all if the developers have legal permission to build there. The most important thing is the Occupation License, which you buy from the local council to say it’s ok for you to move in. That can take time; everything’s got to be absolutely perfect to get it.

What are the best areas in Spain to invest in?

Where I am in the Costa del Sol, that was the place a few years back and I still think it is the best coast in Spain, they’ve got everything and it is a twelve month season there. A lot of other coastal places close down in the winter and just leave a few shops, bars and restaurants open. Moving on up the coast Murcia is a good place to invest, a bit farther north Benidorm is probably the cheapest place, but not always the best.

Are there any areas you would advise against investing in?

No, I wouldn’t advise anyone against investment but I’d just say be careful and make sure you have a good lawyer on your side.

Larry Lloyd’s autobiography Hard Man: Hard Game; RRP £17.99, is out now.