Bought back and restored oneself to favour (8)

I believe the answer is:

redeemed

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'bought back' is the definition.
('redeem' can be a synonym of 'buy back')

I can't explain the rest of the clue.

(Other definitions for redeemed that I've seen before include "Restored to favour" , "Made up for; bought back" , "Recovered possession - paid back" , "Bought out of pawn" , "Bought back from pawnbroker" .)

I've seen this clue in the Evening Standard.

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