The number of mortgage approvals made to home buyers in Britain and Northern Ireland jumped to a 14-month high in April, Bank of England figures show.
Some 68,076 mortgages for house purchase with a total value of 11.1 billion got the green light in April, marking the highest number recorded since February 2014.
The latest figures in the Bank's Money and Credit report add to evidence that the housing market is starting to pick up after a quieter start to the year. Many mortgage lenders have slashed their loan rates to the lowest levels they have ever offered in recent months.
Over the previous six months, the average number of mortgage approvals being made to home buyers has been just over 60,000.
The number of remortgage approvals is also picking up, as borrowers take advantage of cheap rates.
Some 35,930 remortgage loans with a total value of 5.9 billion were approved in April, compared with an average of just over 32,000 approvals for remortgaging being recorded over the previous six months.
Samuel Tombs, a senior UK economist at Capital Economics, said the month-on-month leap in mortgage approvals for house purchase, from a total of 61,945 recorded in March to 68,076 in April, was the biggest increase seen since February 2009.
He said: "Looking ahead, we doubt that mortgage lending will surge," adding that stricter mortgage lending rules will prevent a major increase in the supply of mortgages.
Mr Tombs continued: "Nonetheless, the combination of record low mortgage rates, high consumer confidence and strengthening earnings growth should ensure that mortgage approvals recover steadily over the next year or so."
Howard Archer, chief UK and European economist at IHS Global Insight, said of the figures: "This reinforces our frequently stated belief that housing market activity is now on the up after losing substantial momentum from early-peak 2014 levels through to the end of the year.
"We have recently lifted our forecast house price increase in 2015 to 6 per cent from 5 per cent - and there looks to be a very real possibility that it will have to be raised further.
He said his revised house price forecast is partly due to an upward pressure on house prices due to a lack of homes on the market for buyers to choose from.
Greater certainty following the recent general election result should also help to support the housing market, he said.
The Bank's April figures also show that credit card lending increased by 420 million that month, marking the highest upswing seen since June 2013.
Consumers' personal loan and overdraft borrowing increased by 753 million, which is down on a 1.1 billion increase recorded in March.
