"Use Option as Meta key" with ability to type the # symbol

I am using Terminal version 2.5, where I have two requirements:

1. I need to be able to type the Meta key.
2. I need to be able to type the # character, too (Option+3 for the UK keyboard layout)

How can I satisfy both of these? By default, (2) is satisfied, but (1) is not. I can then turn on "Use Option as Meta key", which satisfies (1), but breaks requirement (2).

How can I have both? (It shouldn't be so hard for me to just be able to type.)

Edit: what I'm looking for, for example, might be a way to just "Use Option as Meta key" for the left/right Option key, or a way to override the "Use Option as Meta key" for the sole exception of the # character.

Solution 1:

iTerm 2 can be configured to only use one option key as meta:

Solution 2:

For requirement 2 you can choose to make the keyboard an Australian one. The only difference between UK and Australian i alt3 and shift3. For UK they give # and £ and vice versa for Australian. This means that for an Australian keyboard # is shift3 as it is for a US or under Windows or Linux.

To change the keyboard layout (under Yosemite) got System Preferences->Language & region - hit the Keyboard Preferences button and use + to add Austrailian to the left hand column