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Here's a list of some of the things wrong with xcoll. It's only 10, but I'm fairly certain I can come up with dozens of practical examples where I've seen it hurt people.

Just responded to your PM with some futher details. There may not be much that can be done at this point, but in future a better way would be to access your equity in your PPOR (or IPs) via a separate investment loan against your PPOR, or an increase on the existing IP loan. This then gives...

By default NAB will cross-collateralise your loans. In your case, there doesn't appear to be any need to cross anything at all. It would be difficult to clean up your existing cross-collateralisation and avoid it on the next purchase without moving some of your properties away from NAB...