June's figure increased 13% on May's 96,600 loans, representing the highest monthly total of 2006. This figure also represents the most loans taken out since August 2004, with the figure being 110,300 then.
First time buyers made up 39,500 of June's total, with home movers making up the remainder of 69,800. This is the highest number of loans taken out by first time buyers in 2006.
Loans to first time buyers went up by 14% since May, with the average first time buyer forking out 3.21 times their income to attain a mortgage in June, the highest figure recorded.
The mortgage data highlights evidence of the strength of the housing market, as the Nationwide updated their prediction of 0.% forecasted in December to 5%.
Tracker loans are also up , from 30,000 in May to 38,800 in June. Trackers make up 19% of all new loans.
Fixed rate mortgage products also went down a bit by 2%. Nonetheless, fixed rate products account for 68% of all new loans.
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