Xana,
Luton is not a bad base to work from. A lot of people have left in the last few months, but this is mainly because Heathrow is only 25 miles away and BA and BMED are both recruiting. Luton town is not the best place in the UK, but it is not the worst either. Yes, it is missing culture, but just jump on the train to London or St ALbans, both very close.
Luton crew always have busy rosters, but this also means lots of sector pay and commision. The crew are all really friendly and socialise together, and we always have a laugh when we fly.
Dustybin,
All airlines will only pay you your basic pay whilst you are on training. Living on £500 for a couple of months is not easy, but the rewards come to you later. Ryanair even expect you to pay for your training, so it could be worse. Sadly, there will always be a big queue of people wanting to join an airline, so airlines will take advantage of this and terms and conditions will reflect this. On the other hand, you get benefits like staff travel, so there is an upside of working for an airline.