The two-year deal is available to appointed representatives of Legal & General (L&G), Pink and Openwork.

Keith Street, head of Kensington, stressed that the lender would take a cautious approach to its return. He added: “Market recovery will not happen overnight and we need to maintain a cautious approach. We remain committed to intermediaries and are dedicated to supporting the benefits of professional financial advice and clear information to assist customers in selecting the right mortgage for their needs.”

Ben Thompson, director of mortgages at L&G, said Kensington’s return was an indication that lenders who have been on the sidelines want to get back into the market.

He added: “We welcome an increase in the supply of credit to help get the lending market moving again. There is evidence of an increasing level of variety and choice amongst mortgage products and this is good new for house purchasers and remortgagors.”