A merchant, Gayncote may have been a younger son or other kinsman of the man who represented Dartmouth in the Parliament of 1426. Whereas his putative elder brother John and their kinsman Nicholas Gayncote were trading from Dartmouth in the 1460s, Walter sought his fortune in the north of the county and settled at Barnstaple, from where he may have traded with Ireland.
Yet, the focus of Gayncote’s life and commercial activities unquestionably lay in the Bristol Channel and despite occasional clashes such as one in about 1455 with the local merchant Bernard Bromwych whom he accused of housebreaking,
Gayncote’s Barnstaple neighbours were evidently content with his conduct of the mayoralty, and re-elected him for a second term of office just a year later, and it may have been in the course of his official duties that he came to arrest one John Gregory, a man who proved to be exceptionally well connected. Two of his patrons, the local gentleman John Orchard, and – far more importantly – William Bourgchier, Lord Fitzwaryn, challenged Gayncote’s actions in the court of common pleas, and litigation over the matter continued into Edward IV’s reign.
Little else is known of Gayncote’s career. In April 1468 his knowledge of shipping in the Bristol Channel was once more called upon when he was included in a commission to investigate acts of piracy off the coast near Barnstaple, and Walter, who may himself have suffered at the hand of pirates in his trading ventures, took this task seriously and was one of the men who actually executed the commission.
