Refereed proceeding of the 15th Annual Pacific Rim Real Estate

The paper explores major reasons for recent proliferation in a number of home loan products, and provides a classification and detailed account of various contemporary home loan products and packages offered in Australia. The following series of categories are used to facilitate discussion: type of offering, major functionality, major purpose, distribution segment, interest structure and conformation status. Among other things, the large number of home loan products, a significant variation in home loan products world wide, recent dynamic changes in the home loan market and the number of different ways in which home loan products can be grouped and viewed, make it difficult to exhaustively categorise home loan products. The home loan classification presented results from the author’s attempt to overcome this difficulty. As much as the author is aware, this is the first time that an exhaustive series of classifications of home loan products has been compiled. Finally, it is important to note that many of the findings in this study are derived from a number of different sources, including the author’s extensive experience in the industry