Australia’s largest independent mortgage broker believes 2009 will be one of the best years in history to venture into the property market.

John Kolenda, Executive Director of Loan Market Group, said the combination of low interest rates, softer property prices and government incentives made the housing market particularly appealing, especially for first time buyers.

Loan Market Group, which includes retail mortgage brands Loan Market, X Inc and realestate.com.au Home Loans, is launching a television campaign for the Loan Market Brand to highlight the many opportunities available in the housing sector.

“Despite the global economic uncertainty, the conditions in Australia for those seeking to enter the property market are ideal,” Mr Kolenda said.

“The official cash rate is down to 4.5 per cent and mortgage holders in the coming year are likely to benefit from the lowest variable interest rates ever offered in Australia as the cash rate could fall to as low as 2.5 per cent.”

Mr Kolenda said the opportunities for first home buyers were unprecedented and the first Loan Market ads were designed to make sure that they had access to the full funding available.

He said Loan Market Group had been inundated with inquiries across Australia from first home buyers since the Federal Government announced the doubling of the First Home Buyers’ Grant from $7,000 to $14,000 in mid-October, and that had prompted the new ad campaign from January 3.

“The increase in the grant and the provision of $21,000 for first home buyers purchasing newly constructed homes has also reinvigorated interest at the lower to middle end of the property market,” he said.

“These concessions will continue for the first half of 2009 while we also expect to see home mortgage rates fall further, encouraging a variety of buyers including Australians returning from overseas.”

Loan Market Group is aligned with Australia’s largest real estate franchise group, Ray White.

LMG has more than 500 mortgage brokers and support staff in Australia and New Zealand.

The company is among the top five mortgage broking groups in Australasia, writing approximately $600 million worth of loans every month.

“Our highly experienced mortgage brokers work closely with accountants, lawyers, conveyancers, financial planners and real estate networks,” Mr Kolenda said.
“We especially understand the realities of getting your home, property or business deal settled on time and with the best deal and interest rate.

“Our ambition is to be the number one branded mortgage broker in Australasia with a mortgage broker attached to all good real estate agents. To do that, we aim to be acknowledged as the premium mortgage broker of choice for consumers.”