Ma*******r Co****cial Property - 12 month bridging

I guess it all comes down to opportunity cost; it all seems ridiculously high to us, but if it enables someone/a business to do something and/or make some money that they couldn't do without it, then it will be worth it, and they are still better off than not borrowing even at such a high rate.  It's a bit like entrepreneurs who refuse to give away 50% of their 'great' business to investors, when in fact 50% of the profits they could make with the investment could well be worth a lot more than 100% of the lower profits they could make without the investment.

I'm not enterprising enough to be in either situation, so I'll just stick to the lending