How is the interest on bridging loans calculated?

Where the bridging loan is one loan against the property, and no further loan is made for improvement works, then the lender simply calculates the loan interest as; (£ loan amount x interest rate %) x loan term. This loan interest and the lender's arrangement fee is deducted from the gross loan amount. What’s left over is the net loan amount and this is the amount made available to the borrower.