PubLove @ The Steam Engine, Waterloo Reviews
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We ended up staying at this hostel twice and it wasn't too bad. It is very small, not a lot of space in the rooms. The beds are quite uncomfortable and the bottom bunks are right down on the floor. There are only two bathrooms upstairs. Staff were friendly but there was a bit of confusion with double booking beds and moving people around. Good location, right near Lambeth North Station and the London Eye. The food downstairs is good (pizza especially) Free wifi is also good (strong connection)
The hostel is very well located. Quiet inside the room, not noisy during the night, live pub with excellent burgers on the weekend downstairs. The staff is helpful and nice. Do not expect much from the breakfast if you sleep till late since there are lots of young people staying.