ISCOVER
The industry stalwart has been appointed to lead a new non-bank lending brand launched by AltX Financial Group that will focus on consumer bridging finance.
Green, who has more than 20 years of experience in financial services and property and was most recently a sales director at consumer credit reporting agency Equifax, has been appointed as the chief executive officer (CEO) of a new lending brand, Clinch.
Launched by asset manager AltX Financial Group (the parent company behind private lender Assetline Capital) Clinch specialises exclusively in consumer bridging loans, designed to help clients secure their next property before selling their current one.
It has officially launched to market today (26 August) with a bridging loan product of up to 18 months for downsizers requiring up to $10 million (loan-to-value ratios of up to 80 per cent). Rates starting from 7.74 per cent per annum (comparison rate 7.87 per cent).
In his new position, Green will lead Clinch as it targets the broker market with its bridging solutions.
He has extensive experience of working with the third-party channel, including from his time as head of distribution at former neo-bank Volt Bank, as co-founder and director Australian Mortgage (which was sold to Volt Bank in 2021) and as the co-founder of Sydney brokerage Shore Financial, CEO of Century 21 Home loans and general manager of Oxygen Home Loans.
AltX Financial Group co-CEO and co-founder Steve Beinart welcomed Green to the group as Clinch CEO, adding: “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.
“We have spent time developing a streamlined and efficient online application tool that allows brokers and borrowers to receive approvals within 10 minutes.”
Green commented: “Clinch exists to help brokers say ‘yes’ to more borrowers by removing the roadblocks of timing and funding.
“Our technology platform gives brokers faster approvals, clearer communication and a smoother user experience,” he said, adding that the platform and products aim to ensure that brokers can “offer flexible solutions with confidence”.
The launch of the Clinch brand comes as around 710,000 Australians intend to retire over the next five years (according to the Australian Bureau of Statistics), with many planning to downsize, relocate or access equity as part of that transition.
“We know that for many Australians approaching retirement, securing their next home is a key milestone,” Green continued.
“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,” he said.
Since 2012, the AltX Financial Group has funded more than $6.5 billion of property-backed transactions for property buyers, small-to-medium-sized enterprises and self-managed super funds.
The group recently welcomed two senior appointments to its construction and credit teams at Assetline Capital, in a move the non-bank lender said signals its continued growth and broker-first strategy, and has recently expanded its product range.
[Related: Assetline Capital makes 2 senior hires]
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