Unfortunately iPhone does not work with Miracast, however, there is another option.
You can use airplay to mirror phone apps on the TV, but you will need Apple TV too which is £79 from the Apple website store, or £69 from places like Argos and John Lewis.
That's about a £30 saving on the launch price.
Obviously, if you already have movies and videos on your phone you can stream those directly through Apple TV.
I hope that helps