Thanks for the input everyone.
This bike was located in northern Scotland, and I'm in Norfolk so I couldn't practically get there to have a look before buying. I did speak with the seller on the phone - he sounded genuine, and the bike looked genuine from the pictures as far as I could tell so I took the risk whilst accepting that it's not at all the best way to buy anything, let alone a 49 year old motorcycle.
I'm not bothered that it's actually a mk1, and I'm only slightly miffed that it's not the smooth running bike that was described in the ad. There's absolutely no point looking to the private seller for a refund or anything of the sort. That would be a waste of my energy that would be much better spent cracking on with getting the bike running and making sure that it's safe to ride.
I'm practical and mechanically minded, and can turn my hand to most things (I also own an old Land Rover so me and oily surprises are old friends). Yes there are issues with the bike, but I'll work through them and I'll enjoy the process. I've got ALL of the manuals now!
The useful tips people have already given me on here are really, really appreciated. I'll probably ask for more help as things progress, so thanks in advance for that.
Cheers