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If you have equity in another property (property X): 1. Set up a split loan against that property that amounts to the deposit required for your next property. 2. Use this as a deposit. 3. Get a separate loan for the new IP (property Y). X-coll is when you skip to step 3 without doing 1 and...

As Rolf said. A couple other options to make up the deposit component: 1. Family guarantor loan. 2. Using equity from other properties (be sure not to x-coll). 3. Using gifted funds if available. FHOG can be used to form part of the deposit, but not as proof of genuine savings. For...