Verizon iPhone 5 with UK provider?

I'm moving from LA to the UK. I was told Verizon iPhone 5 is unlocked, so I'll be able to use it there. Apparently there's only one British LTE provider called EE. Does the fact of it being an American phone compromise the service quality and speed of using it with a British carrier?

Ideas recommendations welcome.

Added (1). So would you say that maybe it's a better idea to go with O2 (so I also save money) and when they eventually upgrade their services to LTE, I'll be able to use that cause they support CDMA?

Your phone will work in the UK, since the phone is unlocked out of the box from Verizon, however, you won't be able to get LTE speeds since EE uses a different LTE band than Verizon. You will get 3G speeds however.

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