Completely agree with what Monarch330 and more Right rudder said. The fact of the matter is unless you are very very lucky there are very few ways to gain an ATPL with no cost incurred.
You will not get a full salary and £12000 on top. It normally works that you will be on a cadet salary with loan repayments on top ( The cadet salary is usually exactly £12000 less than the normal F/O salary). However the cadet salary is normally pretty good. Alternatively, and I believe this is the arrangement with airlines such as Thomas Cook, you get paid full whack from the outset but have to pay back your loan to HSBC.
If on the other hand you are one of the lucky few who has £60,000 tucked under your mattress then it is a slightly different story. There are numerous areas which should be thought about very carefully in any case, tax implications and such.
You could apply for oxford, provided that the bank is willing to lend you that kind of cash unsecured (doubtful). Furthermore If you succeed on the CTC wings scheme then you have an extremely good chance of sitting in the RHS of a jet two years from your start date. I am not sure whether Oxford place every single one of their cadets with an airline.
The point I am trying to make is that you need to go into these agreements with your eyes open. There is nothing underhand about them but they do need some understanding before you sign blindly on the bottom line. The training is not free as such, You are not paying for it directly however, more in a roundabout kinda way. Make no mistake my friend, everybody in this industry will get thier two penneth out of you. No such thing as a free luch anymore. That said it got me where I wanted to go and if its what you want to do, the best of luck to you.
tacho