Bury finance broker Wealthcare on track for record year

North West financial services business Wealthcare is expecting to achieve a record year with the value of deals brokered so far already matching 2014’s total.

The Bury-based firm has brokered £14m of funding deals this year, ranging in value from £125k to £3.7m and spanning Greater Manchester, Cheshire, West Yorkshire and Derbyshire.

Around £7m of the total was brokered in the three months to the end of September.

The head of Wealthcare’s corporate finance division, associate director Martin Simons, said he believes a more favourable lending climate has helped drive the growth, as well as increased activity from residential and commercial developers.

He said: “More finance is being made available by lenders, and we are seeing more entrepreneurs prepared to take risks.

“Growth has come in the house building sector and in commercial construction, in particular for new healthcare, retail and leisure facilities as well as refurbishment schemes.”

Mr Simons added: “There has also been a noticeably greater appetite for investment in hotels in the north from southern-based and overseas buyers, as they look to extend their portfolios into the regions.”

Wealthcare plans to hire more staff in the coming year to meet a growing demand for its corporate services.