I have an original escort rs turbo s2. Its on a d plate and was owned from new by my nan(!). So just 1 previous owner. It has done 130k and to be honest the outside looks good. Only a few scuffs and small dents on the doors. However underneath is rotten. Its had loads of welding- pretty ugly welding too (nearly on every mot). As far as i can see, its got hole in inner wing passenger side (can see from inside wheel arch and engine bay near suspension turrent). Small hole in boot. Both rear inner arches have gone (big gap in btwn outer arch and inner). Its had welding to floor pans,boot,sills,front cross member,battery tray and just about everythere else b4 on the previous mots.
The engine runs (needs setting up as been sat for 2 years) and ive been driving it but needs clutch, gear linkage (real loose)and poss rebuild to get it back to new. Its not noisy and doesnt overheat.
As i said No rust on outside including outer wheel arches,sunroof.

Is there any point in restoring (im not that mechanically minded tho i know a few people that could help with normal things but welding,spraying and engine rebuilding will prob need to go to garage) or would it be better to reshell? Prob is then it wont be a proper rs would it?

I was thinking of getting the welding done that it needs, then strip the interior and giving the under side and inside a good clean then smooth hammerite it white (its in diamond white)inside and out (and under bodykit where you cant see it as well as under bumpers and places where you cant see the finish)where ever I can.Then possible top end rebuild including new cambelt and head gasket.
Then prob just tune it so its making a reasonable amount (180bhp? sensible). Is this a good idea? Ive got a limited budget of about £150 a month and mot and tax due next mth.
Im not looking for a concours car by any means but id like a car thats not gonna rot more and just end up as brown cornflakes in a few years. I aim to keep the car but also get weekend use out of it and enjoy owning a classic that i can use when i want!