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Vendors can now secure their next home before selling their current property, following the launch of Clinch, AltX Financial Group’s new lending brand offering fast, flexible bridging loans.
Alternative asset manager AltX Financial Group announced the launch of Clinch, a new lending brand that exclusively specialises in consumer bridging solutions, focusing on fast, flexible, and transparent loans.
Clinch has been designed to help clients secure their next property before selling their current one, whether it’s upsizing, downsizing, or accessing equity.
Co-CEO and co-founder of AltX Financial Group, Steven Beinart, said that Clinch will give brokers a competitive advantage while also providing a more seamless experience for consumers.
“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 Beinart.
“We have spent time developing a streamlined and efficient online application tool that allows brokers and borrowers to receive approvals within 10 minutes.”
Beinart said that experienced specialist lender James Green would be leading the new brand, stepping in as Clinch CEO.
Green said that the platform would provide brokers with faster approvals, clearer communication, and a smoother user experience.
“Clinch exists to help brokers say ‘yes’ to more borrowers by removing the roadblocks of timing and funding,” he said.
The launch of Clinch comes at a crucial time, with approximately 710,000 people expected to retire over the next five years, according to a report by the Australian Bureau of Statistics.
With many Australians planning to downsize, relocate, or access equity as part of their transition into retirement, Green said that having flexibility throughout this process is crucial.
“We know that for many Australians approaching retirement, securing their next home is a key milestone.
“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,” Green concluded.
Clinch’s downsizing product offers competitive rates from 7.74 per cent pa (comparison rate 7.87 per cent pa), loan terms up to 18 months, values up to $10 million, and LVRs up to 80 per cent.
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