£14m funding record for Bury-based Wealthcare

Independent financial advisors Wealthcare acted on a record number of deals during H1 2016.

Over the first six months of this year, the Bury-based company brokered £14m in funding deals, which is just £2m short of its total for the whole of 2015.

Wealthcare secured finance for a various projects across the country during the period, including residential, commercial and mixed-use developments.

A rise in housebuilding activity, particularly projects aimed at first-time buyers and the affordable housing market, was highlighted a key growth driver for Wealthcare.

Associate director Martin Simons, the head of Wealthcare’s corporate finance division, said the company also saw growth in the London area after opening a Mayfair office earlier this year.

He commented: “We’ve greatly expanded our client base in the capital through referrals and professional connections.

“Having a presence there is definitely having a positive impact and we expect to add to our team in London over the coming months.”

Speaking further, Martin said Wealthcare’s pipeline is strong despite concerns over the impact of June’s EU referendum on the lending market.

He continued: “With a number of specialist lenders having their funding lines closed due to the uncertainty caused by the EU referendum, developers and builders are seeking alternative sources, and we are well-placed to fill this gap.

“Our growing relationships with specialist funders outside of the standard institutional network are enabling us to provide a bespoke service to clients who require a more flexible approach to meeting their funding requirements. We are continuing to see growth in demand.”