Do the CPE. With a first from UCL major city firms will be queing up to give you a training contract, so you will be able to get both the CPE and LPC funded as well as trousering 14 grand worth of maintenance grants. Alternatively, if you want to head for the bar, a first should be enough to get you noticed, so it makes sense to dive straight into the CPE over other senior status degrees like the one offered at Bristol (which take two years). That said, I have a hunch that the Oxford degree is a one year course, and if it is it makes sense to do that instead of a comparable CPE. However, I have not heard of any other programs that exempt you from the CPE that take only 1 year. Hope that helps.