Padella | Borough
Padella is a cute little pasta bar on Southwark Street, right at the entrance to Borough Market. The plates are small (but surprisingly filling), cheap and the wine is excellent. The pasta is all homemade (they close in the afternoon to make more) and everything is cooked in front of you. It's quite possible to have a 3 course meal for two with wine for £50.
They do not take reservations so you may have to queue but the queue goes down pretty quickly. The atmosphere is convivial and fun and it's a great place for a lunch time catchup with a friend or a bite to eat in the evening before moving on somewhere else.
6 Southwark Street, SE1 1TQ