Before a bank considers an applicant for a loan, it will check the person's credit. If the person has a previous bad repayment record, the new bank will also be suspicious of the applicant's ability to pay back the money on time. The bank uses a report called a CCR (comprehensive credit report) to find out about the person's past.
It shows all the credit cards in the applicant's name, whether he has any loans, how many companies he owns, and so on. A person with a high income, but with bad credit, is not a good lender. Similarly, banks will look at an applicant's credit report before they do any processing and if there are obvious problems on the credit report, the bank will reject it mercilessly. So if you have credit cards or other loans, make sure you pay them back on time.
After that, the bank will look at the income, and each person's situation is different, here also divided into other employees or self-employed, local income or overseas income, full-time or contract workers, Full doc or Low doc, here will not elaborate. It is better to talk to a professional broker, you will know what income you can count and how to calculate it.
You could consider renting out a spare room in your home, adding some extra shifts, or taking on a part-time job to increase your income.
Banks like good collateral, such as detached houses in some good areas, where prices and demand have been steadily increasing. But some collateral, such as high-density apartments, will be restricted by banks, for example by reducing the loan-to-value ratio, and some banks may even choose to simply stop accepting them because they have too many properties on hand in the same project or area. Or if a house is separated into very many small rooms, the bank will not accept the property because of the low turnover in the market, etc.
Also, when buying a mortgage, take some time to consider the features of the loan product so that you know if it is right for you. The different features and functions of a loan will affect how much you can get from the lender.