There are a number of things you can do ahead of applying for a loan that will improve your chances of success with main stream lenders.
Reducing the number of credit cards. Lenders look at your maximum limit, not what you owe- the bigger the limit the less you can borrow.
Reviewing your credit history. This includes keeping your bills up to date but more importantly if you have other loans to make sure that you don’t fall behind. The lender generally speaking will view you as a risk if you are struggling to keep up without the new debt.
Applying for a loan
If you apply to multiple lenders, each time they do a credit check. The more credit checks you have signals to the lender that there’s possibly a problem and it is not looked upon favourably.
If you’re contemplating buying a property but think that you might buy a new vehicle instead, think again if you are serious about a property purchase. Having a vehicle debt is usually a large monthly commitment as the debt is generally over a shorter period. This will reduce your ability to borrow greatly. Buy the vehicle after you purchase the property if you can afford it.
Showing the lender that have the ability to save over long period of time shows them that you are responsible and capable with your money. It also helps with a deposit.
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