I feel, as the owner of this car, it is time that I posted here to clarify some details.
Firstly, I've taken no offence from comments made so far - it's hard to take offence from a forum - but I do want to address a few details. I just registered with the club forum because I was considering keeping the car. I then spotted Alexander's post (recognised his name!) and had a look.
The car does have a current, valid, MOT. The reason it was put through an MOT in November is my friend whom I bought the car off, wanted to make sure it was worth spending the £3000 on, before spending it, because the engine had failed. The welding it requires is to repair a broadly 1 inch by 1 inch patch to the jacking point where the underseal has failed and allowed water in. I can assure you that I am not exploiting a loophole that can allow dangerous cars to look safe.
There are no proof of repairs as the repairs have not been done. They were not done because during the month long rebuild my friend replaced the car with an E30 BMW. As soon as the rebuild was complete he did not want to spend the extra to MOT the car given it was already replaced and had a current valid MOT.
The reasons the car is very cheap for one that has just had £3000 spent on it are:
1) I never spent £3000 on it
2) I had it up at £2250 (so it wasn't that cheap) - but dropped to £1500 as I've found something else I want (and I want the money to put into my other classic) it seems if the price is too high folk don't want it.... and if the price is a bit lower they get suspicious lol
As for the police & insurance cover, I couldn't comment as I do not work for either of them. However, the law states your car has to have a valid MOT, insurance, and tax to be on the road - which it has.
Hopefully this helps to clarify a few points.