A bridging, sometimes called a relocation loan, fund the purchase of your property while allowing you a period (generally up to six months) to sell your existing property. During this period the lender will take both properties as security, pay out any existing debt and advance the full funds for the purchase plus cost. In some situations interest can be capitalised during the bridging/relocation period.
Generally once the other property is sold and/or the debt is reduced, the client reverts to a standard loan product, where repayments are made on a period basis.