Currently in Australia, there are only One way to purchase a property without any deposit:

1. Family Equity Loans

Thses loans are available to anybody. In a typical scenario, a young couple (Jim and Mary) want to purchase a home but don't have any deposit. The bank will lend them 80% of the purchase price using the new property as security while their parents will offer extra security by allowing the bank to use the parents property as security. This is a limited guarantee only, so the parents liability is limited to 20% of the value of Jim and Mary's new home. After a few years when the new home has appreciated 20% or more, Jim and Mary can refinance the property and release their parents equity back to them.

The great advantages of family equity loans are that the clients do not have to pay mortgage insurance and the loans are usually easier to get approved because the lender is offered more security.