^...This
Saving up to $1000 would be even better, but sometimes that isn't realistic, and you can upgrade a decent bike as you go.
I really like my 2010 Felt Q620. It doesn't have top notch components, but it doesn't have too many things that NEED to be switched out. The fork kinda sucks, but works to ride with at first (and makes you a stronger rider b/c it is so heavy ;P). Everything is functional, and will work ok until it breaks and has to be replaced. I think you could find a 2010 model (or another equivalent bike model) for around $500? Otherwise used is a good option.
Edit: Oo I just saw you said pounds. So you are in Europe like me. Bikes here are way more expensive than in the US from my experience. Used really might be the way to go.
Last edited by ShimmerFade; 06-03-11 at 02:32 AM.