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@edscoble
qwerxy, now that you know that your lock is barely enough to secure your bike, let alone for 5 minutes (take a couple of second to cut it with decent tools), you'll be able to learn from your recent incident and purchase a decent lock, preferrably a D-lock after you get your new bike.
it's worth spending a good amount of money on it, it's far cheaper than getting insurance (in the long term), and hopefully you'll feel reassured on locking your bike in London.
Another advice is to try and not lock it for too long and in the same place everyday like clockwork (especially in public place), if you feel that a certain area is too risky to lock your bike, then it's probably is.
my only advice is to keep looking at gumtree and check out brick lane when you can, there's not much to go on sadly.