Wow, can't believe some posters here could be giving serious advice...
To the OP:
Go where you want to spend the next 3 years of your life. Go to the school that appeals to you more. And most importantly, consider your parents budget for your college education.
If you really want to go to UCL but your parents can't afford to send you there, then I don't think it would be a good idea to go there, especially that your other option is as excellent if not better for your program choice.
Yes, there's no doubt that UCL is a great university, but so is Warwick. In fact, it ranks higher than UCL in many league tables. Warwick is a solid top 5 university. It is also a solid top 5 for the most selective UK unis. Maybe not for your program choice, but it is, in general. It also has a beautiful campus. UCL does not really have a university campus. Some of the buildings are old and kind of rundown and are scattered all over. There’s obviously a little feeling of being in a university facility as its set-up is so urban rather than scholarly. I also heard many UCL students complain about the housing accommodation that they get. They say it’s poor and expensive.
It is also not a good idea to base your decision on location alone. If you think being in London is an advantage, then that would make London based universities such as City U, Brunel, London South Bank, Middlesex and the like supposedly better schools than is Warwick. But clearly, such is not the case. You did not even apply to any school I mentioned. Why? Because smart students like you value academic prestige. And Warwick has a got a great academic prestige despite its location.
In finality, I think Warwick would be a perfect fit for you, that is, if you did not make it to Cambridge, your other option. Warwick has got a great academic prestige (solid top 5 in the UK), great university campus, great reputation for your program choice, great program as it has a facility in Europe specifically for such programs you intend to major in, great value for money and wonderful students and very caring and supportive academic staff to assist you all throughout your 3 years at the university.