In 2007-2008 we carried out a new multiwavelength campaign of the Whole Earth Blazar Telescope (WEBT) on BL Lacertae, involving three pointings by the XMM-Newton satellite, to study its emission properties. The source was monitored in the optical-to-radio bands by 37 telescopes. The brightness level was relatively low. Some episodes of very fast variability were detected in the optical bands. The X-ray spectra are well fitted by a power law with photon index of about 2 and photoelectric absorption exceeding the Galactic value. However, when taking into account the presence of a molecular cloud on the line of sight, the data are best fitted by a double power law, implying a concave X-ray spectrum. The spectral energy distributions (SEDs) built with simultaneous radio-to-X-ray data at the epochs of the XMM-Newton observations suggest that the peak of the synchrotron emission lies in the near-IR band, and show a prominent UV excess, besides a slight soft-X-ray excess. A comparison with the SEDs corresponding to previous observations with X-ray satellites shows that the X-ray spectrum is extremely variable. We ascribe the UV excess to thermal emission from the accretion disc, and the other broad-band spectral features to the presence of two synchrotron components, with their related SSC emission. We fit the thermal emission with a black body law and the non-thermal components by means of a helical jet model. The fit indicates a disc temperature greater than 20000 K and a luminosity greater than 6 x 10^44 erg/s.Read less <