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There is a joint at the bottom of the steering column which has a rubber insert, this wears over time and causes the play you are feeling, easy way to fix it is to just weld it up, this can be done in situ if you are careful or you can remove the column first.
Mat.
Way i see it you got nothing to lose.
If it don't turn up it hasn't cost you anything, if it does and you like it you have a bargain tv, if it does and you don't like it stick it on Ebay and make some money.
NB - I do not guarantee you will make money on Ebay, hundreds of other people will...
The correct interval for a cambelt change is 5 years or 72k, but it is advised to get it done earlier than this.
Hillpower does the Cambelt and tensioners for £260 to club members.
Mat.