How We Saved $4 Million in Interest for Our Clients 

Discover How We Achieved Our Most Significant Client Savings Yet 

Paying off a mortgage is one of the largest and longest investments on the path to financial freedom. Yet, between work, family, and life, few have the time to constantly check the market for better lending deals. 

At Empower Wealth, our broking team takes on this crucial but time-consuming task, giving our clients back their time and brain power to live their best life.  

By uncovering the best borrowing options, our team aims to maximise each client’s savings—after all, who would want to pay more on their mortgage (which roughly translates to the terrifying name of “death tax”) than they have to?  

“Getting lending in place for our clients is a key part of turning their dreams into a reality,” says Jamie Sinclair, CEO of Empower Wealth.

“As a purpose-led business, being there for the whole journey is just as important as the first transaction.” 

This is why we are incredibly proud to announce that Empower Wealth has achieved one of our biggest goals ever set, all within the 2024 financial year:  

We have saved $4,000,000 in interest for our clients!  

“One of the most impactful aspects of the broking role is saving clients’ money. In just three years, we’ve achieved an astounding $9+ million in interest saved with FY24 our highest number yet 4 million,” says Ben Magnus, Head of Mortgage Broking at Empower Wealth. 

How Did We Calculate This?  

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Empower Wealth’s mortgage broking team saved this staggering amount across 2,868 loans, with an average saving of $1,412.83 per loan per year. 

We calculate interest saved only on the loan balance being refinanced, which is net of equity release/cash-out/redraw. This is done to show the $ for $ dollar comparison if you were to stay with an existing lender vs refinancing your loan. The interest saved calculation includes discounts and is the final rate.  

We have a history of being competitive in saving our clients’ money, and this achievement is a testament to that cause. 

According to Ben, this remarkable milestone is a testament to the dedication of Empower Wealth’s Broking team, and the significant value brokers bring to the community. 

“We’re so proud to put money back into our clients’ pockets,” Ben says.  

The Client Who Tipped Us Over $4M 

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To better understand the numbers, we sat down with the PK (Initials used for privacy), the special client who tipped us over the $4 million interest-saved mark.  

“When I started using Empower Wealth and the Mortgage Broking team a number of years ago to purchase my second property, the experience was painless and seamless, so I had no issue with using Dean and the Team again to re-finance these loans,” says PK.

The loans PK came to refinance were for an investment property that was reaching the end of its interest-only period. They came to us wanting to continue an interest-only period, therefore achieving a better rate.  

With our mortgage broker’s experience and connections, we were able to refinance PK to another lender, saving them $3,708 p.a. This refinance further provided PK with the ability to improve their cash flow and savings when combined with a 100% linked offset account.  

“The experience again was very seamless, and I was kept up to date with everything along the journey, including at what stage settlement was at, and being instructed as to what exactly needed to be completed and when,” PK says.

“Similar to the Buyer’s agency experience, I was very happy to pretty much just being required to sign things as opposed to dealing with the process in which I had full trust in Dean and the rest of the team who assisted.”

This monthly cash flow savings equated to more than $1,300 per month, translating to over $15,000 per year in extra cash in PK’s wallet. 

“I can’t thank Empower Wealth enough for helping me achieve the level of Financial security I enjoy now.”

– PK

A Different Approach to Lending  

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According to Ben Magnus, Head of Mortgage Broking, Empower Wealth’s holistic approach to lending sets it apart. 

“We regularly check in with existing clients with life plans which might assist with a restructure or review,” he says.  

“For restructuring, our brokers look at your overall household financial picture, offering tailored solutions and strategies to your personal situation and suggest the best loan options and structures to suit your needs.”  

This is aided by Moorr, Empower Wealth’s money management application, which has ranked in Apple’s Top 150 Money Management Apps since 2024.  

This all-in-one money management platform provides users with a securely encrypted platform to record their investment portfolios (specialising in property), with advanced features that help users forecast spending, stretch their budgets, predict the earning potential of investment properties, and much more. 

For the brokers at Empower Wealth, Moorr allows them to track and monitor clients’ future plans, making it easier to follow their long-term goals. 

“Further to this, our brokers immediately jump on repricing when lenders announce rate changes or shifts in retention attitude,” says Ben.  

“We start our review work nine months after initial settlement, which allows time for valuation, pricing, and presentation to the client before the loan’s 12-month anniversary.”  

By providing an annual interest-saving comparison to our clients, Empower Wealth can demonstrate to each client a 360-degree view of the market. 

“We appreciate that every family has a different definition of “beneficial” benefit and work to achieve their definition of success,” says Ben.  

Alongside our brokers’ wealth of industry experience, Empower Wealth is affiliated with all the major banks and lending institutions, helping ensure our clients get the best loan rate and structure to suit their needs and objectives.  

A Consistent Track Record  

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You can check out the extensive list of awards Empower Wealth has won here.  

Into The Future… 

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As with all great goals, Empower Wealth is already focusing on its next big achievement: Saving its clients $3,000,000 in interest within the 2025 financial year.  

Ben Magnus, Head of Mortgage Broking at Empower Wealth, explains that this reduced target is market-adjusted to external conditions. 

“With many existing lenders tightening their discounts or providing no discounts at all, it predicates that refinance will be more difficult,” he says.   

Nevertheless, Empower Wealth is confident it can achieve this goal.  

“This milestone represents much more than the millions of dollars we’ve helped our clients save because behind all the numbers are people, families and households with aspirations for a better future,” says Jamie, CEO of Empower Wealth.  

“At the heart of it, we believe in the power of turning aspirations into achievements together.”  

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