Welcome to the world of cosworth power!

What colour did you get?
From your description I would say your wheels are TSW Hockenheims?

Quite rare now as they dont make them anymore. Id love a set myself!
Does it knock when driving normally or is it just when you are near enough on full lock turning? If so, then its the drive shaft, it does it on cars that are lowered.
Mine does it too, I just try to avoid using full lock which usually just means a couple of extra shunts when getting into a space

You can rectify it if it worries you by using XR4x4 front shafts which people put in as they are slightly longer.