<" Horner President bought off a friend of my dads for £5. Action so high you could almost walk under the strings. I didn't know any better at the time. ">.
I don't know if "Horner" is a typo. There are (or were) Hofner Guitars and Hohner guitars.
I had a Hofner President 1958/9 version. Thin Body electric version. I paid about £45 for it new. i have had a number of far more expensive guitars since then but that one was great and had a great action.
There were very few American guitars around at this time so the choice for electric guitars was quite limited.
Don't know what £45 would convert to nowadays but then it was a lot of money. I "lost" my President when one very stormy night it blew off the roof-rack of my van coming home from a gig. A car coming behind ran over it...bo hoo.
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sj