Bridging loans are a type of short-term home loan which are designed to cover the cost of purchasing a new property whilst still in the process of selling your existing one. These can cover all expenses that come with purchasing a new home, such as legal fees, preventing foreclosure, renovations, transactions and more. Relocation loans, on the other hand, are essentially personal loans, meaning they come with far lower borrowing ranges and can be used to pay for anything, rather than solely home purchase-related expenses.