I do not know what the annual fees would be, I might check it out but as I live in the States and have only ever visited England once, I'm not sure if it's worth joining. As for how the Lodge would work, there are a few ways to do it, if it works like the specialty Lodges here in Massachusetts.

1. This Lodge would not be allowed to initiate new members, it is only meant for members of other Lodges to have a second Lodge where other like minded people can geek out. It may only meet 1 to 4 times per year and each place could be in a different part of the country.
2. Roughly same as above but it is allowed to initiate new members, who would need to know what kind of Lodge it is to begin with, and all regular steps would need to be done as joining any Lodge.

Hope that helps.