If you see Ben around Newcastle or Lake Macquarie, there’s a good chance he’s chasing after his 6-year-old daughter and 3-year-old son. Like many local families, his crew has walked a unique path, and life hasn’t always gone exactly to plan.
Before becoming a mortgage broker, Ben worked as a qualified mechanic before moving into sales and business development roles. Across both careers, his favourite part of the job never changed—he genuinely enjoyed listening to people and finding the right choices to get things running smoothly.
A few years ago, family health challenges led Ben and his wife to make a major life change. They chose to swap roles, and Ben stepped into the role of full-time stay-at-home dad, managing the household and supporting the family day-to-day.
Then in 2025, to prioritise his family’s long-term wellbeing, they made another big leap: selling their property in Victoria and moving back to a place they always loved — Newcastle.
“Moving interstate with young kids and health hurdles was stressful enough,” Ben says. “But our mortgage broker completely changed the experience for us. They took the weight off our shoulders, made everything feel manageable, and gave us total confidence through the whole process. That’s when I realised just how valuable personalised assistance really is.”
That exact experience inspired Ben to retrain as a mortgage broker himself. He didn’t do it to sit in a corporate bank tower—he did it to provide tailored support to everyday local families who are trying to juggle real life, real budgets, and big financial milestones.
How Ben Assists Local Families:
- First Home Buyers: Navigating grants and low-deposit options.
- Growing Families: Upsizing and reviewing bridging finance choices.
- Refinancing & Health Checks: Providing competitive choices compared to your current lender.
- Debt Consolidation: Streamlining multiple repayments into one structured framework.
- Building Loans: Guidance through the construction process.
- Loan Structuring: Aligning your loan structure with your family’s financial goals.
Your Questions Answered
Why are so many families now using mortgage brokers instead of going directly to a bank?
Ben: “Mainly because families are incredibly busy. Instead of booking appointments at multiple bank branches yourself, a broker compares choices from a wide panel of lenders to find a home loan that suits your needs. Every lender has completely different policies, borrowing calculators, and requirements. A broker navigates all of that behind the scenes, which is designed to save families time and minimise stress.”
Does it cost anything to use a mortgage broker?
Ben: “In most cases, our standard home loan procurement service is complimentary to you. Mortgage brokers are compensated via a commission paid by the lender after your loan settles, meaning there is generally no additional cost to your family budget. Importantly, brokers in Australia operate under strict Best Interests Duty laws. This means we are legally required to recommend products that are truly right for your needs, not the bank’s.”
What’s one major thing families often look past when choosing a loan?
Ben: “Offset accounts. A lot of families focus strictly on the interest rate, but loan structure and flexibility matter just as much. Having your savings and everyday income sitting in an offset account reduces the interest calculated on your mortgage, while still giving you instant access to your money for school fees or family expenses. A well-tailored structure can help reduce the overall cost of your loan over time.”
We want to upgrade to a bigger home but haven’t sold our current home yet. What are our options?
Ben: “This is really common around the Newcastle and Hunter region right now. Bridging finance can allow families to secure their next home before selling their current one. It removes a layer of pressure from the moving timeline and makes the transition much smoother, especially when you’re trying to coordinate school zones, childcare, and family packing.”
How does maternity leave or returning to work affect borrowing power?
Ben: “Every lender treats this differently. Some banks can be quite rigid, while others are much more accommodating with maternity leave and part-time return-to-work income. This is why exploring your options early is so helpful—many families assume they won’t qualify, when there may actually be competitive choices available to them.”
How much deposit do first-home buyers actually need right now?
Ben: “A lot of people still think you need a traditional 20% deposit, but that isn’t the only pathway. Eligible buyers can purchase a property with a 5% deposit through government guarantee schemes, which avoids the cost of Lenders Mortgage Insurance (LMI). For eligible single parents, that entry point can even be lower. The main thing is understanding what is available to your specific situation before assuming homeownership is out of reach.”
Are there still grants or schemes available in NSW?
Ben: “Yes, there are several helpful initiatives active for eligible buyers right now. These can include:
- Stamp Duty Concessions: Paying reduced or zero stamp duty based on property price brackets.
- First Home Guarantee Schemes: Purchasing with a lower deposit without insurance penalties.
- First Home Owner Grants: Support for those building new properties.
The rules and eligibility limits change regularly, so it’s always worth getting personalised assistance tailored to your exact situation.”
With rents so high in Newcastle, how do families know when they’re ready to buy?
Ben: “A lot of local families are already managing weekly rent payments that are remarkably similar to what a mortgage repayment would look like. Sometimes it just comes down to assessing your current position properly and putting a clear plan in place. Even if you aren’t completely ready to step into the market today, having a casual conversation early can help you understand exactly what milestones to focus on over the next 6 to 12 months.”
Ready to find the right loan for your needs?
If you’d like to chat with Ben about buying, refinancing, or just getting a quick, honest pulse-check on your current loan structure, reach out for a no-pressure, personalised conversation.
Ben McCosh, Mortgage and Finance Broker
Mobile: 0490 703 536
Email: ben@gainfinancial.com.au
Website: gainfinancial.com.au
Licensing Statement: Credit Representative 443687 is authorised under Australian Credit Licence 389328.
Disclaimer Statement: Your full financial situation would need to be reviewed prior to acceptance of any offer or product.