Zimbabwean family grateful for new start

Former Zimbabwean Sidney Chigwende arrived in New Zealand with his wife, two children, and no assets. Three years later, he owns his own home, as well as two investment properties Sidney’s remarkable success story got off to a rocky start. Two of the major banks declined his application for a home loan, concerned that he had not been working for long enough as an accountant, and that his residency had not yet been confirmed.

“I was gutted,” Sidney recalls. “I had never lived in rental accommodation before, and now we were staying in a two-bedroom fl at. My eleven-year-old son kept asking why our home was so small.”

A real estate agent directed Sidney to Gail Jensen, of Mortgage Link Manawatu, and within a short time, the family had a mortgage and a new home. “It was difficult at the start, because Sidney needed a 95 per cent loan. But neither of us were prepared to sit back and let the world pass him by,” Gail says. “He had $6500 saved, a supportive letter from his employers, and a solid CV, outlining his successful career in Zimbabwe. He was struggling at the beginning, but now he’s building up his investment portfolio.” Sidney had owned half a dozen rental properties in Zimbabwe, but because of the uncertainty in that country, he decided to move his family to a safer country. He was not able to cash up before leaving Zimbabwe, as there was an embargo on the export of currency (which is still in place).

He is grateful that Mortgage Link has given his family a chance to start over. “The moment you walk into the office, you sense that the environment is different from the banks. The reception is friendly, and they are prepared to consider your case.”

Sidney’s ambition is to own 10 properties within the next 15 years, then sell off half, and clear all the mortgages. He is two thirds of the way through his studies to become a NZ certified chartered accountant, and his wife, Jay (a former teacher), is re-training to become a nurse. The couple are happy to call New Zealand their home now. “We want to give something back to the community. It’s a good place to bring up our children.”

Sidney Chigwende and Gail Jensen from the Mortgage Link Manawatu Office.

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