Quick answer
A relocation loan is finance used to cover the costs of moving house, city or state, including removalists, flights, bond, overlap rent and set-up costs. It is typically a personal loan, sometimes secured. Ownright Custom Finance can look at what is available for your move, Australia-wide, including interstate and regional relocations.
Key points
- Moves involve many small costs that add up quickly
- Bond and overlap rent often fall due before the first pay arrives
- Employer relocation help can be negotiated and is worth asking about
- Interstate and regional moves may need extra planning
- Suits
- Workers, families and students moving for a job, study or lifestyle
- Covers
- Removals, travel, bond, rent overlap, set-up and storage
- Security
- Usually unsecured; secured options for larger amounts
- Australia-wide
- Yes
What is a relocation loan?
A relocation loan covers the costs of moving, whether that is across town, to another state or to a regional area for work or study. The expenses arrive in a rush and in a particular order: a removalist deposit, a bond on the new place, rent on both homes for a few weeks, flights or fuel, utility connections and a long list of small things that nobody budgets for.
Typically it is a personal loan, sometimes secured, repaid over a term that suits your income once you are settled.
What costs can a move include?
| Cost | Notes |
|---|---|
| Removalists | Quotes vary with distance, volume and access |
| Vehicle transport | Needed for interstate moves |
| Flights, fuel and accommodation | For you, family and sometimes pets |
| Rental bond | Often due before you get the keys |
| Overlap rent | Paying two homes for a period |
| Storage | While waiting for a lease or settlement |
| Set-up | Furniture, appliances, connections and school costs |
Who needs relocation finance?
- Workers taking a job in another city or a regional town
- Families moving for school or to be closer to support
- Students relocating for study (see education and study loans)
- Partners following a transfer where reimbursement will arrive later
- People leaving a difficult living situation who need to start fresh
- Self-employed people moving a business base
Where can other help come from?
Before borrowing, check what support exists. Employers sometimes contribute to removals or temporary accommodation, and may reimburse after you arrive, so ask what is covered and when. Rental bond help is available through government programs in some states and territories, and my.gov.au lists where to look. If you are moving for work, the Fair Work Ombudsman can explain your entitlements under an award or agreement.
When these do not close the gap or arrive too late, a loan can bridge it.
What do lenders look at?
Stable income. A new job offer or contract helps, and lenders may want to see a start date. If you are changing industries or becoming self-employed, tell us early. Our serviceability guide explains the assessment.
Residential history. Moving frequently or between states can raise questions. We help present your history clearly.
Credit file. See how to improve your credit score if you have time before the move.
Amount and security. Smaller moves are often unsecured. A larger relocation, such as interstate with a family, may benefit from a secured option.
Which structure suits a move?
| Option | Where it fits | Things to weigh |
|---|---|---|
| Unsecured personal loan | Typical moving costs | Fixed repayments; credit file matters |
| Secured personal loan | Larger amounts or weaker credit | An asset is held as security |
| Bond-only help | When the bond is the main gap | Check government options first |
| Loan against existing property | Selling and buying across states | See bridging finance if settlements do not line up |
How Ownright approaches relocation finance
A move is a starting line, and the finance should help rather than weigh you down. Trevor Scott and the team ask what the move involves, when it happens and what income will be arriving at the other end. Then we look for lenders and structures that fit the timeline, including options a bank branch may not mention.
We work Australia-wide, so interstate and regional moves are part of everyday business. If you are selling a home and buying another, and the settlement dates do not match, we can also talk about short-term property finance. For bigger life changes, such as separating from a partner, our page on family law settlement finance explains other options.
An illustration
Illustrative scenario only. A worker accepts a role in another state starting in three weeks. The employer will reimburse some costs after the first month. A broker might arrange a personal loan to cover removals, bond and overlap rent, with a repayment schedule that starts after the first pay arrives, subject to lender policy. The loan could be repaid early when the reimbursement comes in.
Mistakes to avoid
- Underestimating overlap rent and utility connection costs
- Waiting until after the move to apply, when income evidence is harder to show
- Not getting the employer’s reimbursement terms in writing
- Paying for storage and double rent for longer than necessary
- Applying to several lenders at once (see why that hurts)
Documents to have ready
- Moving quotes and travel bookings
- Job offer letter or contract, if relevant
- Photo ID
- Recent payslips or tax returns
- Bank statements and details of current debts
The documents checklist covers the rest. Moving to the regions? See our page on loans in regional Australia.
How do I budget for a move?
A simple approach is to list every cost in order of when it is due: deposits for removals, bond, flights, then rent and connections in the first weeks. Add a buffer of around one extra week’s worth of living costs, since delays are common. If your employer is paying part of it, ask for written confirmation of the amount and the date you will be reimbursed. A budget with dates attached makes it clear how much needs to be borrowed and for how long.
What if I am moving to buy a home?
Sometimes a relocation is followed by a purchase, and the order matters. If you are selling a home in one place and buying in another, timing mismatches can leave a gap. Our pages on bridging finance and property purchase loans explain how that is approached. Even if you are renting first, getting your finances in order early makes a later home loan application easier.
What changes for a regional or remote move?
Moving to a regional town can mean longer removal distances, fewer rental listings and limited short-term accommodation, so costs and lead times both grow. Some employers in regional areas offer housing or relocation packages, which are worth asking about before you accept an offer. If you are heading to a smaller community, book trades and removals early and allow extra time between leaving and arriving. A loan that includes a modest buffer for these unknowns is usually less stressful than one sized to the bare minimum.
What if two incomes are involved?
Couples moving together can sometimes apply jointly, which may lift borrowing capacity when both incomes are considered. If one partner is changing jobs and the other is not, lenders will weigh the stable income more heavily until the new one is established. See our page on multiple income loans for how combined incomes are viewed.
Ready to plan the move?
Sounds like you’re looking for relocation finance. We’re the lending experts in making interstate, regional and local moves affordable, so click the button below and see if you qualify.
How it works, step by step
- 1
Step 1
List the costs of the move and get quotes for removals and travel.
- 2
Step 2
Tell us your moving date, income and any employer contribution.
- 3
Step 3
We look at lenders suited to the amount, purpose and your credit profile.
- 4
Step 4
Funds are paid as agreed once documents are complete, with timing depending on the lender.
Frequently asked questions
What costs does a relocation loan cover?
Typically removalists, vehicle transport, flights, temporary accommodation, rental bond, overlap rent, utility connections, storage and basic furniture. Lenders mostly want a clear purpose and a rough breakdown. Gather quotes where possible, and add a buffer for the extras that nearly always appear.
Will my employer help pay for relocation?
Some do. Employers sometimes contribute towards removals, flights or temporary accommodation, and may reimburse after you arrive. Ask in writing what is covered and when you are repaid, because a gap before reimbursement is common and is exactly where short-term finance can help.
Can I borrow for a bond and a move together?
Often yes, under one personal loan, if the purpose is clearly documented. Government help may also be available for rental bonds in some states and territories. We can look at both, as well as our page on rental bond loans, to find the combination that suits you.
Can I get a relocation loan with bad credit?
Sometimes. Lenders treat past issues differently, and a stable job offer, a smaller amount, a guarantor or a secured option can help. We explain what lenders may ask, then match you with those whose appetite fits your history, rather than sending you everywhere at once.
Is moving interstate or to a regional area different?
The finance is similar, but costs tend to be higher and timing more critical. Interstate removals, vehicle transport and double rent can add up, while regional moves may involve fewer rental options and longer lead times. Plan early and tell us your timeline so we can work out what is realistic.
Should I wait until I arrive to borrow?
Usually not. Many lenders assess income and address history, which can be harder to show straight after a move or job change. Arranging finance before the move, while your current income and address are stable, can be simpler. Ask us about timing for your situation.