Fag, not faggot. In America, both Fag and Faggot are used to describe gentlemen who have an attraction for other gentlemen, but here, the two words have no connection to either each other or to homosexuality.
A faggot in the UK is a meatball. Just about everyone knows what an American means when he or she talks about a faggot, but nonetheless, the word isnt used here in that respect.
Our language has been littered with a lot of Americanisms over the last few years (the most annoying being 'awesome'), but faggot (meaning: homosexual) isnt a word or term that has been adopted here.
There are plenty of others people use, but not faggot.