The amount of residential mortgage money lent has increased by more than 10% in the past year, according to new statistics.

The amount approved for residential mortgages in Q2 of 2015 was £59.3bn, up from £47.2bn in Q1 and an 11% jump from the same period in 2014.

The figures were revealed yesterday by the Bank of England and the Financial Conduct Authority (FCA).

In all, 15.1% more was lent in Q2 than in Q1.

Statistics show there were also 200,273 house purchases in Q2, and a further 68,764 in July.

The amount of money lent for buy-to-lets also increased year-on-year, up from £7b in Q2 of 2014 to £8.3b in Q2 this year.

In total the amount of residential loan money outstanding stood at £1.272bn in Q2, an increase of 0.8% on Q1 and up 1.8% on a year ago.

The amount of money lent at fixed rates increased from 77.6% in Q1 to 78.9% in Q2. The overall average interest on this money was down from 2.99% in Q1 to 2.83% in Q2 – the lowest interest rate since the Bank of England/FCA figures began in 2007.

The value of residential loans approved for first-time buyers increased over the quarter from £8.9bn in Q1 to £10.8b in Q2.

However, the figure was slightly down on the amount lent to first-timers in Q2 of 2014 when it stood at £11.4bn.