That's the 1.4 TU engine. Leaking headgaskets can dribble oil into the cambelt chest. Otherwise, the usual used car checks, paying special attention to the fragile rear beam. They're turgid slow though, something like 15.5 seconds to 60 - a little quicker than the 1.1, but the 1.1 feels revvier and livlier and is actually the nicer to drive.
This is one of those cars worth investing in a pro AA/RAC check. 53k miles is a little high for the age - there's no shortage of 206s about and I'm sure you'll beter that easily.