There was a 21.2% rise in the total number of mortgage applications last year over 2010, according to the latest National Mortgage Index compiled by Mortgage Advice Bureau.
Although mortgage applications fell 43.1% in December 2011 compared to the previous month, they were still 20.2% higher than the corresponding month in 2010.
Meanwhile, the percentage of applicants choosing a fixed rate deal in December was 75.8% compared to 75.0% in November. The popularity of fixed rate products has increased over the year from 70.9% of all mortgage applications in December 2010.
The average loan size on mortgage applications in December was £137,230, compared to £140,448 in November. Over the year the average loan size was £132,747 which is 4.62% higher than the average in 2010 of £126,888.
The average loan to value (LTV) on mortgage applications in December was 69.8%, which was lower than the average for November of 71.6%, and also than the average for the year of 70.7%.
The average deposit mortgage applicants put down in December was £59,375, up from £55,708 in November, and up 12.2% from December 2010 (£52,918).
The average age of mortgage applicants in December topped 39, which is the highest level since the Index launched. The average salary of applicants in December was £35,352, up from £34,789 in December 2010.
The seasonal slowdown was also evident in remortgage applications, with the number of cases down 39.1% in December compared to November. However, to put this in context of the greater levels of activity seen in 2011, remortgage applications were 55.2% higher than they were in December 2010.
The proportion of homeowners choosing fixed rate deals in December stood at 62.4%, down from 67.1% in November but more in line with previous months in 2011.
There was a definite swing towards remortgage applicants choosing fixed rate deals in 2011, as just 51% of remortgage applicants in December 2010 were looking for fixed rate deals.
The average loan size requested by remortgage applicants in December was £150,065, up from £146,998 in November and higher than the average for the year of £145,834.
The average loan to value on remortgages in December was 58.7%, compared to 56.5% in November.
Brian Murphy, head of lending at Mortgage Advice Bureau, said: “The slowdown in activity experienced in December reflects the seasonal trend of the housing and mortgage market