Approximately £500 Gaming Build (UK)'

So my work computer has recently began encountering more freezing, more lag and has ultimately got slower (It was an awful computer anyway) (HP Slimline S5000) to the point that any type of gaming would cause it to crash. Since its 5 or so years old and I'm into gaming, I've decided to invest in a Gaming PC. I first began looking through Pre made builds but after extensive research I've decided go ahead and attempt to build my own PC due to the cost advantages and more one can get out of it :D

Budget. How much are you willing to spend : I am willing to spend approximately £400 - £600 (The less the better as I intend to buy a new mouse/mousepad and maybe keyboard)
Where do you live, and what currency do you use : I live in the UK and use British Sterlings as a currency (£)
Is there a retailer you prefer? : Not really, I only really aim towards investing in good quality, highly rated products and components.
Do you need or already have peripherals? : I do need a new mousepad and mouse, however I will be buying these separately and would not like the prices to intefear with the PC build. I already have all the components a normal pc has in my current one, I plan to take out the HDD (OS) and sell the rest as a complete package.
What will you be using your Glorious computer for? : I would be using my computer primarily for Gaming, however it will also be used for social networking (Steam, Twitch, YouTube)
Do you overclock or want to get into overclocking? : At this point in time I don't really want to get into overclocking, however I would possibly do it in the future.
Do you plan on going for custom watercooling now, or in the future? : Since it will only be a £500 or so build, water cooling seems unescessary and a little extensive, possible in the future but unlikely.
Operating System. Do you need a new one? : I can probably snag the Win 7 (32 or 64 bit, I don't know) 500GB HDD out of my current PC.

What FPS would you like to play at? : 60 FPS at high/ untra settings preferably on most games.
What resolution will you be playing at? //or would like to play at. : I currently play at 1080p (I believe, don't quote me on that) or 720p (Don't know) I would like to play at 1080p +
What kind of games do you like to play? : Minecraft, Fallout, Tonnes of indie games, MMO's, FPS's, GTA, Battlefield, Cod, and tonnes more big and small games. (Some were played on console/ I would also like to get into Counterstrike, Witcher etc)
What specific game will you be playing: I will be playing many, not one specifically, possibly MC or an FPS game with friends.

Thanks for reading through if you did :P I will be buying parts this week (earlyer the better) and attempting to build it after more research. I have build a custom setup and would appreciate if you could check it out :D http://uk.pcpartpicker.com/parts/partlist/. You guys probably know better than me anyways haha. Any opinions, suggestions, ideas are welcomed, Please suggest your own builds for £500, that would be great! Thanks :)

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http://uk.pcpartpicker.com/p/nc3t23

CPU: Intel Core i5-4460 3.2GHz Quad-Core Processor (£141.19 @ More Computers)
Motherboard: Gigabyte GA-B85M-DS3H Micro ATX LGA1150 Motherboard (£48.28 @ CCL Computers)
Memory: Corsair Vengeance 8GB (2 x 4GB) DDR3-1866 Memory (£44.32 @ Ebuyer)
Storage: Western Digital Caviar Blue 1TB 3.5" 7200RPM Internal Hard Drive (£39.91 @ Scan.co.uk)
Video Card: MSI Radeon R9 380 2GB Video Card (£156.99 @ Ebuyer)
Case: Cooler Master N200 MicroATX Mid Tower Case (£27.93 @ Amazon UK)
Power Supply: XFX 550W 80+ Bronze Certified ATX Power Supply (£46.18 @ CCL Computers)
Total: £504.80

http://uk.pcpartpicker.com/p/74XvGX

CPU: AMD Athlon X4 860K 3.7GHz Quad-Core Processor (£52.00 @ Aria PC)
CPU Cooler: Cooler Master Hyper 212 EVO 82.9 CFM Sleeve Bearing CPU Cooler (£24.95 @ Aria PC)
Motherboard: ASRock FM2A88M EXTREME4+ Micro ATX FM2+ Motherboard (£51.46 @ Scan.co.uk)
Memory: Corsair Vengeance 8GB (2 x 4GB) DDR3-1866 Memory (£44.32 @ Ebuyer)
Storage: Kingston HyperX Fury 120GB 2.5" Solid State Drive (£42.58 @ CCL Computers)
Storage: Western Digital Caviar Blue 1TB 3.5" 7200RPM Internal Hard Drive (£39.91 @ Scan.co.uk)
Video Card: MSI Radeon R9 380 2GB Video Card (£156.99 @ Ebuyer)
Case: Cooler Master N200 MicroATX Mid Tower Case (£27.93 @ Amazon UK)
Power Supply: XFX 550W 80+ Bronze Certified ATX Power Supply (£46.18 @ CCL Computers)
Total: £486.32

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Thanks for the quick reply, which one would you propose is better? I'm personally preferring the i5, however it does not have a cpu
cooler, is that a problem? Also if Os comes with the HDD, will my current 500GB Win 7 32bit do?

The intel set up is a little better cpu wise (you dont get any overclocking as the cpu is locked hence not needing a extra cpu cooler)
The AMD set up get's you some overclocking and a ssd for a boot drive.

Does the i5 setup need a cpu cooler or optical drive, I have a current HDD 500GB with Win 7 OS, would that do?

the i5 one is better the amd one needs a better cooler because it runs quite hot and for the keyboard and mouse i would recommend the cooler master cm storm devastator combo im using this at the mo and i love it if you can get it from overclockersUK great service and quality

A 32bit vershon of windows cant acomadate more than 4gbs of ram (it will still work fine) but you whont be able to use the full amount of ram installed so you will be needing a new OS but you could get away with useing it antill you can aford a new OS

Ah cool man, Ill take it into concideration, thx.

Ahhhh ok, No problem, I could afford it on top of the £500 as I will be selling my current anyway, could you edit the current list? For the i5 setup that is.

just get the cheapest windows 7 or 8 64bit you can find as both will give you a free upgrade to windows 10 anyway.

Ok, thanks for your help :D

How about this.

yep that looks fine

Oh will I have to get fans with the case?

The case come's with 2 120mm fans (one in the back and one in the front) there is space for extras if you whant to add more but not needed tbh.

Alright, how about CPU
cooler?

You whont need one with that cpu the stock heatsink handles the chip perfectly fine.

Cool.

Is an optical drive required if I don't intend to insert any CDs into the PC?

Well you can buy windows and put it on to a usb stick to load it up so you dont realy need a dvd drive anless you have old dvds you whant to use but then a dvd drive can be had for next to nuthing if you whant one (my local mom and pop computer store sells secondhand drives for £3) and new ones are around a tenner.