This represented a 36% monthly increase and a 48% yearly increase.
Remortgage lending reached a seven year high of £6.4bn in April 2016, LMS research shows.
This was largest amount lent since £7bn in November 2008 after activity bounced back from a sluggish March.
Lending increased by 38% and 48% on a monthly and yearly basis.
Andy Knee, chief executive of LMS, said: “Remortgaging in April has bounced back after a quiet March, with levels of activity taking place that haven’t been seen since the recession.
“March saw the market overwhelmed by second home-owners looking to push through transactions before changes to stamp duty came in, but as April arrived, existing homeowners were able to remortgage and capitalise on the great rates currently available.
“The average amount people are withdrawing through remortgaging fell to a 13-month low, suggesting household budgets are not as constrained as previously. Homeowners can also celebrate that – as a result of such low mortgage rates and rising incomes – repayments as a percentage of income have fallen to a record low, boosting family finances.”
