If you have only have the one phone in your house (near the BT mastersocket) or use multiple DECT phones (that only require to be plugging into the phone line once) then you can skip the faceplate altogether.
If you open up the BT mastersocket and disconnect all the bell wires (may require cutting) then you get the same effect as the iplate and spend no money. Alternatively, remove the mastersocket cover and connect your microfiter into the test socket. This will mean your broadband modem and main phone will have to be hooked up to the master socket - but it will mean that your broadband speed might well go up. Obviously, try the test socket first to see if you will get any speed benefit and you won't have to remove any wires.
I did this in our house (about 3km from the exchange) and the broadband speed almost doubled up to 5.6Meg.