This seems like an exceptional deal if you’re hunting for an iPhone 5 on contract. With an up-front cost of £299 and a monthly £21 to pay for a year, that’s just £551. I say “just” because the 16GB iPhone 5 costs £529 from Apple.
The monthly T-Mobile allowance includes unlimited calls, texts and data, but not tethering.
(Thanks to jamesjamesjamesjamesjames at HUKD)