The one you've listed isn't my first choice, even within that price bracket, but it'll be fine. You'll likely only need/want it to run office and a web browser, along with note taking software, and Chrome OS with those specs will work for that, you'll have computers at 6th form you can use instead. I'd be more concerned about using it at uni/whatever you do next, but that's a couple years away.
As for other laptops, if you're wanting to save money (and don't mind dropping the 2 in 1 mode), you can generally get something pretty decent. This thread is a different use case but same budget and use case,
have a look to see if there's anything that you like. Alternatively, looking second hand is generally a much better value than buying new at these price points.