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NTSC PS2 can output PAL signals. It is just your TV can't display it correctlly.
Yes, a converter will be needed in order to see PAL movies on your NTSC TV. Just do a search for "pal tv" on the web and you should found a lot of places selling video converter. However they are very costly (around $300 USD).
Another solution is buy a VGA box for around $45 USD then use your monitor to watch PAL movies or play PAL games.
One more solution is pick up a PAL TV while you traval to England. However you will need a voltage converter for your TV because they use 220v instead of 110v.
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