How to improve your file before a loan application?
A well-prepared file increases your chances of a favourable answer, and can also give you access to better terms. Here are the key points to check before submitting your application.
Review your current financial situation
Before applying, take stock of your income, fixed expenses, and any loans currently in progress. This overview will help you set a realistic amount and repayment term.
Reduce your debt-to-income ratio if possible
Your debt-to-income ratio — the share of your income spent on loan repayments — is a central criterion for lenders. Paying off a small existing loan, or avoiding taking on a new one right before your application, can strengthen your file.
Stabilise your income and employment situation
A stable employment situation reassures lenders. Where possible, avoid submitting your application in the middle of a career transition, and choose a time when your income is regular and well documented.
Prepare your supporting documents in advance
As detailed in our guide to the documents you need, having a complete file from the start avoids unnecessary delays and gives a serious impression.
Avoid mistakes that weaken a file
- Submitting several loan applications to different lenders in a short space of time
- Providing incomplete or illegible documents
- Underestimating your real monthly expenses
- Requesting an amount that is disproportionate to your repayment capacity
Frequently asked questions
What counts as a good debt-to-income ratio?
There is no single rule, but a well-managed ratio that leaves enough disposable income after your expenses is generally viewed favourably by lenders.
Is it risky to submit several loan applications at once?
Submitting several applications in a short time can suggest an unstable financial situation and weaken your file. It is better to compare offers before formally committing to one.
Does a recent change in employment hurt my application?
It can make it harder to assess the stability of your income. Where possible, it is best to wait until you have a few months of track record in your new situation.
Ready to apply? Discover the loan types suited to your project:
