I'm just finishing up my undergrad in Bristol, and I've loved every second of living here. It's a beautiful and really exciting city, full of great clubs, pubs, food places and independent shops.
The uni itself does have a really good reputation, and is a good stepping stone for both UK and international postgrad study. As for the fees, I'm not sure about the one year thing, do check that (I have a friend who's been resident for longer and doesn't qualify for PhD funding, so just be sure that's true before you relocate!).
All in all, Bristol is fab, and definitely worth considering. If there's any more specific info you think you would like (I still have internal web access so could possibly find out more about courses/costs/living etc), let me know!
Good luck choosing