A relocation home loan, sometimes called a bridging loan is used when you need to buy one property before you have sold your current home. However, it might not happen as quickly as you would like. 

You don't need to worry about this. A relocation house loan may be available to you. This isn't new, but due to changes in the market, and the effects of deregulation on banking, these types of mortgages have become more appealing than ever.

These mortgages were deemed high-risk by banks in the past and they charged high-interest rates to compensate. The concept is now viable due to a more competitive market and new products. Relocation loans are no different from other loans in terms of fees and charges. The loan is similar to a regular loan, with interest-only charges up until the property is sold.

There are many lenders that will offer a standard variable rate interest on a loan for relocation. It's worth looking at all options before you make a decision.

The bank will assess the property's value, add it to your existing home's cost (outstanding mortgage), and then calculate the potential sale price for your current residence. After they have done all their calculations, the bank will determine the principal of your mortgage.