Try take a look at Icelandic Flight Academy.
English | Flugskóli | Tćkniskólinn - Skóli atvinnulífsins
I did my MEIR conversion there and they did a very good job. There is plenty of instrument approaches available in the area, as Reykjavik and Keflavik is 20 min flight within each other. Most important the price is very good for the quality of the training you get.
If you decide to go all the way and get an Icelandic license the authorities will hand it over to you on the same day as you apply if everything is okay and not in 3-4 weeks as the UK CAA takes for processing.