tins of LME are a bit dear, im having a wee play with the bog standard cooking LME, got off amazon when it was silly cheap for 6x jars of stuff, not got the beer primed yet but stuff out the bucket was pretty darn good, even managed to get it pretty pale by using alot of honey (goldensyrup would work aswell) not al malt as it can be a PITA to ferment aswell appently
as for hops on ebay last time i looked u can get a kilo of fuggles for £20 delivered, so basic hops are cheap (the maltmiller tends to have some cheaper aswell)
also the cheaper kits are half extract half sugar, this can work aswell esp if ur using plenty of spec malts (a mini mash is ideal)
overall i reckon i can make a basic light engish bitter ale from extract for £12 for 20l- £2 sugar, £4 cheap LME, £2 hops, £2 yeast (if im not recycling), £2 spec and basic malts, so cheap as a kit- yeast recyling helps alot so can spend on the malt- delivery wise i spend enough for free or have factored it in... so as cheap as kits if plan accordingly- cheaper malt can be done by buying in 25kg jerry cans etc