In reply to Ghastly Rubberfeet:
> If you mean Derwentwater, then the OP might like to know it is now an independant hostel as the YHA flogged it off.
Yes, Derwentwater Independent Hostel is great too, but there is also the Borrowdale YHA, further down the valley, near Rosthwaite.
On the outskirts of the Lakes, I was very impressed with Arnside YHA recently.