Hot if you don't need the subscription. Looking at the website it states that the subscription only starts when you activate it yourself. But it also says that all the v-home kit is compatible with a SmartThings hub if you already own one with exception on the camera for some reason which needs the v-home hub.
Total cost is £435, not £99.
This will require a data plan as its smartphone controled, you activate and deactivate the alarm via the app. £14 a month seems expensive for the plan they are offering, I wouldn't of thought it uses much data so a pay as you go Sim might work out better