Correct.
The method above that I have mentioned works, I have used it and the rates really arent too bad.
Someone commented on
http://howtogetbitcoinsuk.blogspot.co.uk/ (which incidentally seems mostly cut'n'pasted from WikiLeaksDude's blog) as follows:
I'd add Intersango.com to the list of exchanges - you can use Transferwise to get Euros into Intersango, you can then trade directly in Euro, without having to go thru US dollars. I wish the UK banks would wake up to the business opportunity and allow the exchanges to open a sterling bank account: there may be compliance issues, but the UK banks end up looking a bit like luddites. Not a good image to be seen to be trailing behind even euro-zone banks.
So it looks like you're better off using Intersango than Bitstamp.
M.