Restored to favour, you thought, again (8)
I believe the answer is:
redeemed
'restored to favour' is the definition.
(I've seen this before)
'you thought again' is the wordplay.
I cannot quite see how this works, but
'thought' could be 'deemed' (I've seen this before) and 'deemed' is found within the answer.
'again' could be 're' (prefix meaning 'again') and 're' is found within the answer.
This accounts for all the letters.
This explanation may well be incorrect...
Can you help me to learn more?
(Other definitions for redeemed that I've seen before include "Thought about the possibilities again" , "bought back from uncle?" , "Bought out of pawn" , "Made up for; bought back" , "Saved as from hell or pawnshop" .)