Aaron Claridge and Angela Altus with their newborn daughter, Summer Claridge, in the home they just managed to buy in Ashmore. Picture: Glenn Hampson.
New parents Aaron Claridge and Angela Altus consider themselves to be among the ‘forgotten middle-class’ who don’t have the luxury of relying on family inheritance to help them buy a home.
The Brisbane couple recently purchased their first house in Ashmore on the Gold Coast — just in time for the arrival of their newborn daughter, Summer.
Despite earning solid salaries between them, it was a struggle to scrape together a 20 per cent deposit, and they didn’t receive any financial help from family, but they desperately wanted to get out of the rental market before becoming a family of three.
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Aaron Claridge and Angela Altus and their newborn daughter, Summer Claridge, struggled to get into the housing market without help from family inheritance. Picture: Glenn Hampson.
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“We were in this awkward position where we were both strong income earners, but the rent itself was around $1400/$1300 a week,” Mr Claridge said.
“We wanted to get into the market before 2026, but also wanted to truncate that time once we knew Summer was coming.
“We knew we had the capacity to pay a loan back, but the sticking point was not having enough of a deposit.”
After meeting with a mortgage broker and exploring his options, Mr Claridge decided to consult an AI chatbot.
“I just put in a query to ChatGPT to see what options we had,” he said. “Skip (Loans) came up, so I went through that process.
“I was very bewildered because it was super easy. The process wasn’t overcomplicated.”
The couple secured a loan through Skip Loans with just a 2 per cent deposit — paying $85,000 upfront for a $1.2m house.
“If you know you can service the loan, you either have the deposit to go with a big bank or this is your option. Do you want the security of a home or not?”
Mario Emmanuel of Skip Loans. Image supplied.
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It comes as new research reveals the suburbs where large amounts of intergenerational wealth are set to change hands, with residents in some Brisbane locations set to receive inheritances of up to $1m this year alone.
The analysis from Foundit lays bare the widening wealth gap between those who can afford to get into Queensland’s property market and those who can’t.
Mr Claridge said he could not see that gap closing.
“I can’t see there being a middle-class anymore,” he said. “You’re either in the upper tier of lower socio-economic, or the low tier of higher (socio-economic).
“Unless there’s a recession, or house market crash, which creates its own economic issues, I don’t see how many people just getting a medium or average wage will ever be in a position to own their own home.”
As for their daughter’s future, the couple is already considering putting money away for her to be able to afford her own home one day.
Skip Loans CEO Mario Emmanuel said the company helped people get out of the rental market and in to their own homes sooner by offering low deposit loans.
“Most people being left behind today aren’t worried about the success of their peers,” Mr Emmanuel said.
“They’re focused on building a better future for their families. Skip helps remove their biggest barriers so they can focus on building their lives and future — just like generations of Australians that came before them.”
