This was a significant uplift on the average monthly increase of £1bn over the previous six months.

The number of loan approvals broadly flatlined at 53,710 last month but remortgaging saw a fillip with 30,313 homeowners remortgaging against a 28,323 average over the previous six months.

Residential mortgage lending increased by £0.9bn in April, compared to the average monthly increase of £0.6 bn over the previous six months.

The three-month and twelve-month annualised growth rates were 1.1% and 0.7% respectively, reported the central bank.

Richard Sexton, director of e.surv chartered surveyors said:

“The mortgage market is much stronger than it was six months ago. Lender confidence is more durable compared to the brittleness of the last few years, and that is helping more first-time buyers get a mortgage.

“House purchase lending is at its highest and most consistent since the financial crisis, and there were 14% more house purchase loans to high loan-to-values (LTVs) borrowers compared to April last year. Rates are low, criteria have eased slightly, and there is a wider choice of high LTV mortgages.

“But the improvements are being stymied slightly by the unholy trinity of weak wage growth, rising costs of living, and meagre savings rates. And on the supply side, lenders will find it difficult to significantly increase the amounts they lend. Their hands are still tied by turbulent money markets and punitive regulatory and restructuring requirements that will leach away funds which could be used for new lending.

“It will still require a significant tour de force in the economy if the mortgage market is to fully regain its va-va-voom.”

Paul Hunt, managing director of Phoebus Software, said:

“The small but significant rise in mortgage approvals in April is not momentous by any standards but there is a growing sense that the mortgage market is taking steps in the right direction. Lending is inching up on an annual and monthly basis which is really encouraging.”