A flurry of deals in the run-up to the Brexit vote contributed to a record half-year for the corporate finance arm of financial services business Wealthcare.
Wealthcare brokered £14m of funding deals in the first six months of 2016, just £2m shy of its total for the whole of 2015.
Martin Simons, who heads Wealthcare’s corporate finance division, said the firm’s pipeline remains strong despite concerns over the impact of the referendum on the wider lending market.
He said: “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.”
Wealthcare brokers business finance with banks, specialist lenders, crowd-funders, private individuals and hedge funds.
It sources funding for acquisitions, working capital and asset purchases as well as property development and investment.
The first six months saw it secure finance for a range of projects across the country, including commercial and residential property developments and mixed-use schemes.
An increase in house-building activity, especially schemes aimed at first-time buyers and the affordable housing sector, was a key driver for its record performance.
Martin said the firm enjoyed stellar growth in the London area following the opening of an office in Mayfair earlier this year.
He said: “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.”