Finspo Review: Digital Mortgage Brokers

The only mortgage broker in Australia with an app designed to help you save money, Finspo helps you tackle your mortgage head-on.

Mortgages are a hot topic right now. As property prices continue to rise, a potential rise in RBA cash rates and housing affordability issues reported everywhere; it’s no wonder the word “mortgage” now sends shivers down my spine.

Banks and lenders are already starting to increase their fixed interest rate mortgages, even before the cash rate moves, which means finding a good mortgage might already be harder to come by.

Digital mortgage broker Finspo was founded because “housing loans are just plain hard for so many Australians”. Not only are they difficult to obtain, but difficult to eliminate. The standard term for a home loan is 30 years. Say you got your first home loan at age 30, that means you would be 60 when you paid it off. If you are someone who has commitment issues, this fact can be a tough pill to swallow.

Angus Gilfillan, CEO and Co-Founder of Finspo, answered some questions from about why Finspo was created, why you should try it and how using Finspo can save you money .


Are you buying a house or looking to refinance? The table below shows home loans with some of the lowest interest rates on the market for homeowners.


Rate type Gap Redraw Ongoing charges The initial costs LVR Lump sum reimbursement Additional refunds Pre-approval

Variable More details

Smart Booster Home Loan Discounted Variable – 2 years (LVR
  • Fast turnaround times, can meet 30 day settlement
  • For purchase and refinancing, down payment min 20%
  • No ongoing or monthly fees, add 0.10% compensation

Variable More details

Low Rate Home Loan – Premium (Principal & Interest) (Owner Occupant) (LVR
  • No upfront or ongoing fees
  • 100% cleared account
  • Additional refunds + withdrawal services

Variable More details

Homeowner Accelerates – Celebrate (LVR
  • We lower your rate based on the amount you have repaid on your loan
  • Automatic Rate Matching
  • No upfront or ongoing fees

Variable More details

Careful variable real estate loan (capital and interest) (LVR
  • No ongoing fees – None!
  • Unlimited additional refunds
  • Redraw – Access your extra payments if you need them

Variable More details

Owner Occupied Variable, Principal & Interest (Refinance Only)(LVR
  • No application or ongoing fees.
  • 100% free clearing sub-account.
  • Fast online application, approval in minutes not weeks.
  • Mobile app, Visa debit card, Apple and Google Pay
  • Refinance loans and variable rates only.

Founded to help level the playing field

Finspo was founded by Angus Gilfillan, Bill Armor and Josh Brougham – all three with decades of experience working for the Big Four banks – to make the process “confusing, time-consuming and extremely expensive” of getting a home loan easier, faster, and cheaper.

“[We] knew the ins and outs of the mortgage world and wanted to level the playing field for everyday Australians by not only helping them get a loan, but also helping them save where they could,” said Mr. Gilfillan at

Finspo is free, digital and easy to use

With Finspo’s Quick Start app, you can see your estimated borrowing capacity in minutes, then book a same-day call with a home loan expert.

“Our friendly experts will then help you secure a great home loan, from the 30+ lenders on our panel,” Gilfillan said.

“Think video calls and digital documents – none of the clunky stuff.”

Finspo is also the only mortgage broker in Australia with an app designed to help customers save money on their banking once they have connected their accounts.

“You don’t even need to have secured your loan through Finspo to use the app,” Mr Gilfillan said.

You might get a better interest rate

Finspo’s personalized insights and alerts help “many” people save money once they’ve connected all their accounts to the app.

“To give you an example, the average Australian with a $500,000 home loan could potentially save over $50,000 over the life of their loan, just by making small changes to their banking,” Mr. Gilfillan.

“It also means they could pay off their loan two or more years sooner when they maintain repayment.”

The app lets you know when a better rate is available for your loans, how your money could work harder for you, and/or where you can save on fees.

“Finspo’s team of experts are then on hand to help customers secure a great loan easily at home or on the go, from any of the more than 30 lenders on our panel,” Mr Gilfillan said.

“We also do not charge clients for our brokerage service.”

Case Study: Client saves up to $129,961 on loan

Finspo revealed details of a recent client who had an existing homeowner loan of $320,000 with 19 years remaining.

“By refinancing, they went from a lower than normal rate – 5.17% per year – to an extremely low rate – 2.23% per year – and are now able to save $478 per month,” Mr. Gilfillan said.

“That means their savings over the life of their loan could be as high as $129,961.

“Plus, they could pay it back nearly five years early if they stick with their repayments.” Not bad huh.

This assumes that the client makes the minimum repayments and, after refinancing, maintains its value and repayment frequency at the level it was before the application of a reduced interest rate.

Why should you use Finspo?

Finspo comes with no upfront cost, is easy to use, and is online with an app. There are no requirements you need to meet to have a chat, no obligations, and “there are no silly questions you can ask a Finspo mortgage expert”.

“Whether you’re looking to buy, refinance, upgrade or just save smarter, Finspo is here to make it easy,” Gilfillan said.

“Plus, the Finspo app can help you pay off your home loan faster.

“Which other mortgage broker will send you personalized alerts when your interest rate changes? Or when you could transfer money into your linked clearing account to reduce your mortgage interest? »

You can use Finspo’s free refinance calculator to see how much you could save on your home loan. Check their website for more information.


The entire market has not been taken into account in the selection of the products above. Instead, a reduced portion of the market was considered. Products from some vendors may not be available in all states. To be considered, the product and price must be clearly published on the product supplier’s website.,, and Performance Drive are part of the Savings Media group. In the interest of full disclosure, Savings Media Group is associated with Firstmac Group. To learn how Savings Media Group handles potential conflicts of interest, as well as how we are paid, please visit the website links at the bottom of this page.

last articles


Rachel Horane

Rachel is a financial journalist and joined Savings in 2021. Coming from the FinTech space, her interests include lending technology innovation, real estate, investing, and more. Passionate about educating and informing people about their finances, she hopes to increase the financial literacy of ordinary Australians.

to post

Save smart.
Subscribe to free money newsletters.