Commercial First, the Essex-based mortgage lender that was forced into hibernation after closing its doors to new business last year, is set to recommence lending to its customers.

The lender, which is run by David Johnson, the Grand National winning horse-owner, is believed to have struck a deal with a number of banks that will allow it to advance loans once again.

Before the de facto closure of the securitisation markets, Commercial First was lending more than £1.5bn to small- and medium-sized enterprises.

Independent On Sunday