Former Volt Bank distribution head tapped as CEO of new venture
Alternative asset manager AltX Financial Group has announced the launch of Clinch, a lending brand targeting the consumer bridging loan market.
Under chief executive James Green (pictured), former head of distribution at Volt Bank, Clinch is tailored to upsizers and downsizers looking to secure their next property before selling their current property.
Clinch is offering up to 18-month loan terms at up to 80% LVR on property values up to $10 million, with comparison rates starting at 7.87%.
A key demographic for Clinch is retirees who are looking to increase their cashflow through downsizing.
"We know that for many Australians approaching retirement, securing their next home is a key milestone," said Green.
"Clinch gives them the freedom to make that move when it’s right for them, not just when their current property sells. Brokers and customers want fast, upfront certainty. We deliver exactly that with competitive rates and a streamlined online application tool,” says Green.
“With the backing of AltX Financial Group, Clinch combines the agility of a specialist lender with the strength and stability of a well-established industry leader,” said AltX’s co-chief executive and co-founder Steve Beinart.
