hi,
i believe age doesn't matter that much. at least in england.
re funding, i am an EU student as well and i found that it is very hard to get funding in the UK, as they will only pay for people who have been resident for three years. you can get fees, that's it. and that tends to be very competitive, too...
so you should be looking for funding mostly in your home country. if age is a problem there, i don't know. it is in Germany, but in Switzerland for example 28 is not old to start a PhD.
other things to consider are the location, and if you go on the one year course you will be spending a lot of time in that year planning your future, writing applications etc. instead of focusing on your work. on the other hand you'd have some extra time to decide on what exactly you want to spend the next 3-4 years, you'd still have more flexibility.