You may be better off buying a better quality instrument second-hand. Shops like Hobgoblin often have some, so it's worth enquiring. Ebay is OK if you can try them first - personally I wouldn't buy an instrument without first trying it (unless it's being built for you). Alao, rather than buying from a shop, you can often get a good deal from stands at festivals (OK, bit late for this year), especially if you go when they are packing up.

Incidentally, Dave Freshwater, who makes good quality handmade instruments is offering a new range of hand-built in=struments for the price of a second-hand one. He'll make you a mando for £330, but you may have to wait a few months for it. I used to have one of his citterns which was excellent. http://www.affordablefolkinstruments.com/