I'm honestly not trying to be rude, so please don't take this the wrong way. You clearly have no concept of how much bikes and ancillaries are if you think £500 is a lot. I paid more than £200 for my cycling shoes. Almost the same amount for my helmet. My latest wheels were more than £500 without tyres and tubes. You can spend more than £10,000 on a bike.
There's no reason why you can't do the trip, but you need to change your attitude and approach massively. Try and scrimp on the basics and I'll promise you'll suffer when things go wrong.
I've looked on eBay and this is the sort of thing you should be looking at. You will be able to buy some panniers and the rest of the stuff second hand as well.
If you haven't the money then get down your local pub/supermarket and ask for some shifts.
Are you trying to put cycling out the reach of everyone who dosen't want to pay a ridiculous sum of money? I've no doubt that your bike is probably way better than my bike could ever be, but I don't have any interest what soever in sinking so much money into something that's going to be used a few times. It's not a hobby.
I hope you don't take the comments you've received as pure, unadulterated snobbery. There's a lot of truth in the idiom "buy cheap, buy twice" when it comes to cycling gear. While you don't have to go to Hincanpie-esq levels of spending (), buying the cheapest equipment you can will only serve to make your excursions less enjoyable. A used touring bike such as the one George linked to would be a lot more suited to the sort of thing you're planning. You may be able to pick up a decent used hybrid bike for £200 (that's what I paid for my Specialized Globe), but then you'll have to add a rack, panniers, pump, bottle cages + bottles, spare tubes, etc - this all adds up. I'm all for people getting out on their bikes - had I not gotten into cycling I'd probably still be a 23 stone slob - but you will probably end up hating cycling if you insist on buying a rubbish bike.
If you really do only want this bike to do your tour on, then you might want to consider hiring a bike rather than buying one. At least then you'll know you've got a fully serviced, mechanically sound bike to do your 580 miles on. Just make sure you take a bunch of patches and some spare tubes, as you'll almost certainly get a puncture.
As for getting ready to actually do the ride, I echo the sentiments of the others. Doing 50 miles in a day is not a big deal if you are reasonably fit, but sitting on a saddle for hours a day is something you need to condition yourself to. I cycled to Brighton with a friend of mine last year, covering about 75 miles over 5 hours. Prior to this he'd only ever cycled 13 miles in one go. He coped just fine with the physical exertion, but he said that the saddle ruined him, whereas I had no such problem. If you're taking it easy and only cycling 10 or so miles at a time then stopping to rest then it'll go a long way to alleviate the problem, but it's still something you should be aware of.
By the way, I'm not saying this to try to put you off - quite the contrary in fact, it sounds great. It really will be a lot more enjoyable if you put in some time and effort in order to prepare, and that's really the point I think we've been trying to make. I hope you've not taken some of the more "militant cyclist" opinions too harshly - some people are very passionate about their cycling![]()
Now this is reasonable and a great read! Thanks. I understand you've got to pay and truth be told, as long as I get something that will keep it's value, I have no problems paying the extra and selling it later on.

Would you know of any decent places to rent bikes, as that's a superb option I hadn't considered.
The whole saddle issue is something that I hadn't thought about, guess I'll need to get a bike fairly soon so as to get used to it.

Thanks again for the great post.
), buying the cheapest equipment you can will only serve to make your excursions less enjoyable. A used touring bike such as the one George linked to would be a lot more suited to the sort of thing you're planning. You may be able to pick up a decent used hybrid bike for £200 (that's what I paid for my Specialized Globe), but then you'll have to add a rack, panniers, pump, bottle cages + bottles, spare tubes, etc - this all adds up. I'm all for people getting out on their bikes - had I not gotten into cycling I'd probably still be a 23 stone slob - but you will probably end up hating cycling if you insist on buying a rubbish bike.
). The south coast and towards the Alps/Pyrenees are likely to be good. Also the north east and into belgium.