For 120k miles,

I would check the following

Cam belt change ford reccoment 100k, but most do soon after 60k, so may be due again,

Valve clearances, its on the maintenance list with fords but how often do they actually check them?? it is usual for them to sound tappy on a cold start, but this should fade/disappear as it warms up.

Turbo, usual shaft play, oil in boost hoses, also the turbo oil feed has a filter built into the banjo bolt that goes into the back of the block this can often clog up and block oil flow, this should be checked and changed for a servicable filter/feed line or a new ford item, as it could severely reduce turbo life, the oil return is made of some crappy tin like stuff and often rots there aftermarket replacements available, but ford have either discontinued production or want two arms and half a leg for it.

Clutch, prob should have been changed at least once, if its been used properly, it is reccomended to replace clutch with AP organic clutch, or sachs, i beleive these are around the same price parts wise, if not cheaper than the stock ford clutch (which was made by AP), and the Sachs or AP organic clutch will take a lot more torque than the stock one if you plan on modding,

check the usual, history, doesnt have to be full ford history, but at least proof of oil changes on a regular basis would be a good start,

gearbox oil and gear lever linkages, check for little play, sometimes they have a problem going into first gear and staying there, pop out when you go to drive off,

smooth idle, no hunting, it is common for the crankcase breather hose with the white one way valve in it to collapse / split, causing bad idle loss of power etc,

Suspension, it is quite hard as standard but a few shocks have been known to go, so might be worth having a look to see any oil etc or other signs the shock is on its way out.

cant think of too much else to be honest matey, generally very good reliable cars, hpe you find one you like and enjoy owning / playing with it ,