Wet weather gear

Know that the weather is going to get progressively worse and wet can anyone suggest some reasonable priced wet gear for cycling to work. I cycle most days and am really enjoying but with the wet weather coming don't want to stop
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Commuting in bike specific clothing makes a big difference, lycra gets wet but doesn't get heavy.
Have you got mudguards? Most of the time water will be coming from the road.
Overshoes next. I don't mind being wet but wet feet are not at all pleasant.
Depending on how heavy the rain is, I just wear something windproof to keep the chill off, however I rode home in a downpour yesterday in my new DHB waterproof (£60 ish from Wiggle), it's heavier and less compact than some, kept me more or less dry. I've never bothered with waterproof trousers.
I'll def get mudguards but don't have have fittings on my bike so I would think my choice is limited. Ideally just want some sort of cheap over suit that I can pull over normal kit if heavy rain. I have motorbikes and have an oversuit that I can wear over normal kit so something similar woud be good.
I wear normal MTB shoes, MTB water resistant (not proof) shorts and a base layer T-shirt, when it rains I use a wind proof top to stop it stinging and making me cold, but still get wet, but at least I don't sweat.
retired 9.6kg Carrera Kraken
The Carrera Hardtail combined thread - come on all you Carrera's!
The Sons Scott Genius RC20 build
Having said all that, your route may be totally different, and none of the above is relevant at all! But I would stress not going overboard on waterproofs if you are likely to sweat. If it's all road, mudguards are a big bonus.
EDIT: asterisked part says " f a s t w i c k i n g" - obviously too close to a censored word (or two).
Skin is waterproof
It's not getting wet that is the problem, it's getting cold
Don't bother putting anything waterproof on your legs, at most tights, or 3/4s
Mudguards are your friend
Basically get a breathable jacket that keeps you slightly warm. I use the old eVent jacket from Wiggle (good for down to 0C in the Winter as well)
Overshoes are great if you don't have winter / waterproof shoes (I have both for the really cold days)
You *need* mudguards when it turns wet as:
You
Your drivechain
Your bike
Everyone behind you
...will suffer if you don't have them
The key to wet weather riding is staying warm, not dry and water conducts heat far more quickly than air. So keep yourself a warm layer against the skin.
Oh, and hand dryers at work dry lycra REALLY quickly
2009 Specialized Tricross Sport
2011 Trek Madone 4.5
2012 Felt F65X
Proud CX Pervert and quiet roadie. 12 mile commuter
As it gets colder add knee, arm and leg warmers, base layers and longer 3/4 or full tights.
Once it's cold add a decent soft shell jacket, it'll keep you warm and the worst of the wet off.
In my experience good neoprene overshoes will get you through a winter or three (if you avoid walking and never ride flat pedals in in them) and cost around £30. I've used ProRace and Endura.