You will normally have six months to sell the existing property or 12 months if a new property is being constructed. If the property has not been sold by that time, the loan will be reviewed and new arrangements may need to be put in place.
Remember that a standard settlement in some states can take up to 6 weeks so this needs to be taken into consideration when calculating the bridging period.
If you are unsure of how to calculate the bridging period and estimate the impact that it will have on your loan, ask your local Mortgage Choice broker.