Henry Hungate was a London merchant specialising in the export of wool and he would have also imported velvet, silk and other luxurious fabrics.
In the book "The Mercery Of London: Trade, Goods And People, 1130-1578", (Asgate Publishing, 2005) by Anne F. Sutton, Henry Hungate is mentioned along with his brother Robert as mercers, who imported silk by the pound in small amounts. They may have been importing it for use in their own workshops.
Henry Hungate was the son-in-law to Humphrey Baskerfield. Humphrey Baskerfield was a support of protestantism and it is reasonable to assume that his son-in-law was also of the same opinion. Baskerfield server of the jury that acquited Nicholas Thogmorton of treason to Queen Mary on 17th April 1554.
Nicholas Throgmorton (Throckmorton) became Sir Nicholas married Anne Carew and his daughter Elizabeth became the wife of Sir Walter Raleigh. The Carew family is very important to Beddington's history.
When Baskerfield died in 1564 the care of his children and their portions given to several Mercers including Henry Hungate.
Within the London Subsidy Returns of 1576 (http://socrates.berkeley.edu/~ahnelson/SUBSIDY/252ndxn.html) Henry Hungate is listed as 'worth' twenty pounds and his brother Robert worth ten pounds. A Subsidy Roll included the taxes assessed against the people. The subsidy was imposed upon persons according to the reputed value (moderate estimate) of their estates.