Mortgages are a hot topic right now. With property prices still going up, an RBA cash rate hike potentially incoming, and housing affordability issues being flagged all over the place; it’s no wonder that the word ‘mortgage’ now sends a shiver down my spine.

Banks and lenders are already starting to raise their fixed interest rate mortgages, even before the cash rate moves, meaning the hunt for a good mortgage could already be harder to come by.

Digital mortgage broker Finspo was founded because “home loans are just plain hard for so many Australians”. Not only are they hard to get, but hard to get rid of. The standard home loan term is 30 years. Say you get your first home loan at 30 years old, that means you’d be 60 by the time you paid it off. If you’re someone with commitment issues, that fact may be a hard pill to swallow.

Angus Gilfillan, CEO and co-founder of Finspo, answered a few questions from about why Finspo was founded, why you should give it a go, and how using Finspo can save you money.


Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.

Update resultsUpdate
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkCompare
6.04% p.a.
6.06% p.a.
Principal & Interest
Featured Online ExclusiveUp To $4K Cashback
  • Immediate cashback upon settlement
  • $2,000 for loans up to $700,000
  • $4,000 for loans over $700,000
5.99% p.a.
5.90% p.a.
Principal & Interest
Featured Apply In Minutes
  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
6.14% p.a.
6.16% p.a.
Principal & Interest
Featured Unlimited Redraws
  • No annual fees - None!
  • Get fast pre-approval
  • Unlimited additional repayments free of charge
  • Redraw freely - Access your additional payments when you need them
  • Home loan specialists available today
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

Founded to help even the playing field

Finspo was founded by Angus Gilfillan, Bill Armour, and Josh Brougham - all three having decades of experience working for the big four banks - to make the “confusing, time-consuming, and crazy expensive” process of getting a home loan easier, faster, and cheaper.

“[We] know the ins and outs of the home loan world and wanted to even the playing field for everyday Aussies by not only helping them get a loan, but to also help them save where they can,” Mr Gilfillan told

Finspo is free, digital, and easy to use

Through Finspo’s quick-start application, you can see your estimated borrowing power in minutes, and then book a same-day call with a home loan expert.

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

“Think video calls and digital documents - none of the clunky bits.”

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

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

You could snag a better interest rate

Finspo’s personalised 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 $50,000-plus over the life of their loan, just by making small changes to their banking,” Mr Gilfillan said.

“This also means they could be paying their loan off two or more years earlier, when they maintain their 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 conveniently at home or on the go, from one of the 30-plus lenders on our panel,” Mr Gilfillan said.

“We also don’t charge customers for our broking service.”

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

Finspo revealed details about a recent client who had an existing owner-occupier loan of $320,000 with 19 years left.

“By refinancing, they went from a sub-par rate - 5.17% per annum - to a great low rate - 2.23% per annum - and are now able to save $478 a month,” Mr Gilfillan said.

“This means their savings over the life of their loan could be a whopping $129,961.

“Plus, they could pay it off nearly five years faster if they maintain their repayments. Not bad hey.”

This is assuming the customer makes the minimum repayments, and after refinancing, maintains their repayment value and frequency at the level it was prior to applying a reduced interest rate.

Why should you use Finspo?

Finspo comes with zero upfront costs, is easy to use, and is online with an app. There are no requirements you have to meet to have a discussion, no obligations, and “there are no silly questions you can throw at a Finspo home loan expert”.

“Whether you’re looking to buy, refinance, upgrade or simply save smarter - Finspo is on hand to make it easier,” Mr Gilfillan said.

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

“What other mortgage broker will send you personalised alerts when your interest rate changes? Or when you could move money into your linked offset account to reduce your mortgage interest?”

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

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